April 27, 2022

BLOG TOUR - Preserving Wealth: The Next Generation by Jack Lumsden

Hi friends! This post is part of a virtual book tour organized by Goddess Fish Promotions. The author, Jack Lumsden, will be awarding a $15 Amazon or Barnes and Noble Gift card to a randomly drawn winner at the end of the tour via Rafflecopter. Be sure to check out the other stops on the tour (the link to the tour schedule is below) - the more you comment, the more chances you have to win!

Preserving Wealth by Jack Lumsden Tour Schedule (Goddess Fish Promotions) 

About the Book

"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.

Check out this EXCLUSIVE excerpt

“When you buy stocks,” Mark continued, “you’re not lending money to the company; you’re actually buying ownership in a company. Your investment increases when the value of the company increases; unfortunately, it also works the opposite way. If the value of the company decreases, so does your investment. Some companies also pay their investors a portion of the company profits each year in the form of dividends. Dividends are nice, but your biggest gain comes when the value of the company goes up, because that pushes up the value of your stocks.”

“I’ll say it again,” interrupted Alice. “I’m impressed, and I don’t impress easily.”

“Tell me about it,” mused David.

The rest of us laughed, but Sally had dollar signs in her eyes. “Are stocks guaranteed?”

“No way!” Mark answered.

“Well then, why would anyone buy them?”

Uncle Wayne took over. “It’s true that the stock market goes up and down, but over the long term, the trend has been up, just like the economy. I can show this to you in black and white. I took the liberty of asking Aunt Lorraine what year each of you were born so that I could chart the growth of the Toronto Stock Exchange Index in a way that isn’t skewed toward my point of view. Look at this,” he said as he pulled out a sheet of paper.

Mark (1955) TSE was 536.50

David (1968) TSE was 1062.88

Alice (1970) TSE was 947.54

Jack/Sandra (1978) TSE was 1309.99

Sally (1983) TSE was 2552.35


“The Toronto Stock Exchange at the end of 2019 was at a whopping 17,063.43, so even with all the turbulence in the time since Mark was born, the stock market has increased dramatically. Gosh, think of everything that has happened in the last sixty-three years: the Korean War, the Cuban missile crisis, Vietnam, the separatist movement in Quebec, the advent of the information society and the global economy, not to mention the oil crisis of 1973, the market crash of ‘87, the fall of Communism, the Gulf Wars, Bre-X, Nortel, the Dot Com boom bust in 2000–2001, the Great Recession in 2008–2009, 9/11 …”

“Enough with the history,” Sandra said affectionately. “Let’s get back to the economy. What I think you’re saying is that at any one point in time, there’s enough upheaval going on that you could feel skittish about risking an investment in stocks. However, the bottom line is that the market has always gone up over the long term.”

About the Author

JACK LUMSDEN, MBA, CFP®, is a financial advisor with over twenty years of experience. He has enjoyed building a strong career and loyal client base. In addition to helping clients preserve and transfer their wealth, he focuses on those who are or will be making the transition from their working years to retirement with the need to develop a lifelong income and cash-flow strategy from the financial assets they have accumulated.

A lifelong resident of Burlington, Jack dedicates much of his spare time to staying active and coaching high school football. Spending time with family is another of his core values. He enjoys attending sports events with his son, Connor, and country music concerts with daughter, Paige, while he and his wife, Sandi, like to travel with friends and explore new destinations.

Jack's education includes a BBA from Wilfrid Laurier University (where he met Sandi), and an MBA from McMaster University. He is also a CERTIFIED FINANCIAL PLANNER® or CFP® professional.

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

Connect with Jack Lumsden

Financial Planning: jacklumsden.com 

Author website: preserving-wealth.ca 

Facebook: https://www.facebook.com/JackLumsdenCFP

Goodreads: https://www.goodreads.com/author/show/20761015.Jack_Lumsden 

Get your copy of Preserving Wealth - The book is free from BookFunnel

Free download of Preserving Wealth


AMAZON.COM https://amazon.com/dp/0228810949 

AMAZON.CA https://amazon.ca/dp/0228810949 

BOOKSHOP https://bookshop.org/a/80536/9780228810940

INDIGO CHAPTERS https://www.chapters.indigo.ca/en-ca/books/preserving-wealth-the-next-generation/9780228810940-item.html 

BARNES & NOBLE https://www.barnesandnoble.com/w/preserving-wealth-mba-cfp-r-lumsden/1137726169 

BOOK DEPOSITORY https://www.bookdepository.com/Preserving-Wealth-Mba-Cfpr-Lumsden/9780228810940

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