Gina Rae Mitchell

Preserving Wealth: The Next Generation by Jack Lumsden, MBA, CFP | $15 Giveaway, Exclusive Excerpt. Book Spotlight, Author Profile 

A book blog tour from Goddess Fish Promotions.

Thank you to the author, publisher, and Marianne & Judy at Goddess Fish for providing me with the information for this tour.

Book Details

Preserving Wealth: The Next Generation by Jack Lumsden
Published by Tellwell Talent on 09/21/2020
Genres: Educational, Non-fiction, Self-help
Format: eBook, Paperback
Pages: 168

"Toronto-based research firm Strategic Insight projects that approximately $1 trillion in personal wealth will be transferred from one generation to the next in Canada between 2016 and 2026, with roughly 70% of that in the form of financial assets." - Advisors Edge January 30, 2018
"70 % of Wealth Transfers fail."
- The Future of Estate Planning. Trusts and Estates June 2010
"65% of Canadians say it's likely they will leave an inheritance to their heirs or estate but only 46% of Canadians have a will." - Sun Life Canadian UnretirementTM Index, 2015.
Experts estimate that $1 trillion of inheritances will pass from one generation to the next within a decade in Canada. In addition, many individuals are selling their businesses, resulting in substantial gains. Accordingly, the ability to effectively manage one's wealth and prepare and implement a proper estate plan is no longer just prudent. It's crucial.

Jack Lumsden is an experienced financial advisor who uses an easy-to-read narrative style to clarify financial planning concepts that everyone needs to know. Preserving Wealth explains:
-Investment strategies to provide for growth and protection of capital,
-How to develop an effective estate transfer plan to reduce estate costs and taxes,
-Strategies to preserve wealth and safeguard an inheritance or gift for the next generation,
-How to select an executor, and what to do if you are an executor,
-The critical discussions to have with your family, and
-How to assemble a financial team.

 

~~~~~~~~~~~~~~~~~~~~

Exclusive Excerpt from Preserving Wealth

“My best advice is to develop a globally diversified portfolio that invests both in bonds and stocks/equities, based on your risk level and specific goals.”

“What kind of mix do you recommend?” asked Alice.

“Before we get into that, Alice, let’s review what I mean by risk,” Uncle Wayne continued as he sat up straight in his chair. “There are basically two main types of risk: capital preservation risk and inflation risk.

“Capital preservation risk is the risk that your capital is not there when you need it. Let’s say you were going to buy a new boat in a year, and the cost was $25,000. To make sure you had the $25,000 in a year, you would have to invest in conservative investments, such as a high interest savings account, so you’d have the $25,000. If you invested in equities/stocks, in a year you could have more than $25,000 or a lot less.

“Inflation risk is basically making sure that your money grows over time as items get more expensive each year. Even inflation of 2% over twenty years, as in the prior example, can lead to costs increasing dramatically.

“Even if you’re close to retirement, you still need some growth in your portfolio, because people today are living longer, and the longer you live, the greater the chance is that inflation will beat you. I’m sure you all want to live a long time, but you don’t want to outlive your supply of money, so your financial plans should be based on a projected lifespan to your mid-nineties. That means Sally needs her money for the next sixty years, and Mark for another forty-two!”

Mark looked surprised and took a sip of his drink. “Wow, that is a long time. I wonder if I’ll still be water skiing then!”

Sally started to laugh and said, “You can barely water ski now! You only go once a year after a few brown pops!”

Uncle Wayne coughed to get our attention and continued. “So you all will need growth or equites in your portfolio to keep up with inflation. A globally diversified portfolio is made up of both bonds and stocks/equities from countries around the world, and the breakdown is determined by both your goals and your risk, or sleep at night factor.”

“What specifically do you mean by goals and sleep at night factor?” asked Sally.

~~~~~~~~~~~~~~~~~~~~

Purchase Links for Preserving Wealth

Amazon – OneLink for every country   

Bookshop/IndieBound

    The Book Depository     Blackwells’s

Waterstones 

~~~~~~~~~~~~~~~~~~~~

~~~~~~~~~~~~~~~~~~~~

I love my Amazon Kindle Unlimited Subscription. So many books, so little time!

~~~~~~~~~~~~~~~~~~~~

~~~~~~~~~~~~~~~~~~~~

Purchase Preserving Wealth online from a local book store.

Amazon – OneLink for every country   

~~~~~~~~~~~~~~~~~~~~

Giveaway!

Jack Lumsden, MBA, CFP® will be awarding a $15 Amazon or B/N GC to a randomly drawn winner via rafflecopter during the tour.

Visit more stops on this Goddess Fish tour for extra chances to win!

Official Tour Page

Full Tour Schedule:

April 18: Candrel’s Crafts, Cooks, and Characters
April 19: Christine Young
April 19: Long and short Reviews
April 20: Locks, Hooks and Books
April 21: Momma Says: To Read or Not to Read
April 22: Fabulous and Brunette
April 25: All the Ups and Downs
April 26: Our Town Book Reviews
April 27: Eye-Rolling Demigod’s Book Blog
April 28: Gina Rae Mitchell
April 29: Gimme The Scoop Reviews
April 29: Westveil Publishing

Canadian Readers Please Note:

The publisher is running a Goodreads giveaway in conjunction with the tour: 10 print copies. Anyone in Canada on Goodreads can enter https://www.goodreads.com/giveaway/show/343225-preserving-wealth-the-next-generation

~~~~~~~~~~~~~~~~~~~~

Shared on:

Twitter

Pinterest

Instagram

If you would like to review books for Goddess Fish Promotions, please click the link below:

Goddess Fish Virtual Book Tour Host