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Friday, April 22, 2022

Preserving Wealth: The Next Generation by Jack Lumsden, MBA, CFP - Book Tour - Exclusive Excerpt - TWO Giveaways - Enter Daily!!

Hello, lovelies!!  It gives me great pleasure today to host Jack Lumsden, MBA, CFP® and his new book, “Preserving Wealth: The Next Generation,” here on FAB!!  For other stops on his Goddess Fish Promotions Book Tour, please click on the banner above or any of the images in this post.

Be sure to make it to the end of this post to enter to win a $15 Amazon OR Barnes and Noble Gift Card!!  In addition, not ONLY is there this fabulous giveaway, BUT there is a SECOND fabulous giveaway!!  Jack’s publishing team, Tellwell, has teamed up with Goodreads to give 10 lucky readers a Print Copy of the featured book!!  See below for more details.

Also, come back daily to interact with Jack and to increase your chances of winning!!

This eBook is available for FREE on Bookfunnel during the book tour!!  See below for more details.

Thanks for stopping by!!  Wishing you all lots of good luck in this fabulous giveaway!!

Please note that Giveaway #2 is ONLY open to CA residents.  Sorry INTL – please check out Giveaway #1 and the other giveaways on this blog!!

Preserving Wealth:

The Next Generation

by Jack Lumsden, MBA, CFP®


GENRE:  Non-Fiction (Business and Finance)



"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.



After Aunt Lorraine left, I asked everyone whether they had followed any of Uncle Wayne’s advice during the past week by starting to pay off their debts.

“I have,” Sally answered. “I paid off all my credit cards, and I’m going to pay the total every month now instead of just the minimum, so I won’t be charged any interest.”

“Atta girl, Sal. You’ve learned something already,” Mark said.

“Mark, I don’t much care for the condescending tone in your voice,” she countered, “and you had better quit referring to women my age as ‘girls.’ It would appear that the politically correct parade has passed you by. No wonder you can’t get a date!”

“I, for one, don’t want to hear about Mark’s social life,” Alice said. “Getting back to Jack’s question, our mortgage is coming up for renewal in about two months, so we’re going to do what makes the most financial sense. We’ll apply our double-up payments and the anniversary payment now and then pay off the balance at renewal time.”

“I’ve never had a mortgage,” Sally said, “so you just lost me, Alice. What are double-up and anniversary payments?”

“Well,” she answered, “there are lots of different kinds of mortgages, but I did some checking, and ours lets us pay an amount equivalent to the monthly mortgage payment, in addition to our regular payment, each month. That’s the double-up feature. The extra payment is applied directly against the principal, which is the amount that was borrowed in the first place.”

“And that would mean the interest component on the remaining mortgage payments would be less,” Sally reasoned, “because you’ve made a deeper dent in the principal.”


“Do all mortgages have this double-up feature?” Sally asked.

“No, they don’t,” Alice replied. “You have to check the terms and conditions of each particular mortgage.”

“Wait a minute,” Mark interrupted, “I thought extra payments like that were only allowed on the anniversary date of the mortgage … you know, when the day rolls around every year that you first signed the papers.”

“Well, that might have been true for your mortgage, but not ours,” Alice explained. “Ours was a closed mortgage, and besides the double-up feature, ours allows a one-time 10% at any time during the year, and it’s applied directly against the principal. By the way, the reason we aren’t paying off the entire mortgage now is that we wouldn’t save a dime. In fact, the penalty payments for an early pay-off would be more than the interest we’ll be paying over the next two months until we’re up for renewal.”

I smiled at Alice with respect and set out to explain the mortgage situation for Sandra and me.

“First, we took advantage of the terms of our mortgage by making an anniversary payment, much like yours, Alice. Then we arranged to pay off the remainder of our mortgage, with a penalty, at the end of this month. Come to think of it, it’s a good thing we’d put our cash in a high interest savings account, because Sandra was able to get at the money in a matter of two days.”



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.



Financial Planning:


Author Website:




Goodreads Author Page:


Goodreads Book Page:


Amazon Author Page:




The Preserving Wealth eBook is available for FREE on Bookfunnel!!!

Check it out below:




Amazon US Kindle eBook:


Amazon US Paperback:


Amazon CA Kindle eBook:


Amazon CA Paperback:


Barnes and Noble Paperback:


Book Depository Paperback:


Bookshop Paperback:


Indigo Chapters CA Paperback:




Jack Lumsden, MBA, CFP® will be awarding a $15 Amazon OR Barnes and Noble Gift Card (Winner’s Choice!!!) to a randomly drawn winner via Rafflecopter during the tour.

a Rafflecopter giveaway

And why have ONE giveaway when you can have TWO!!  Yep – that’s right!!  There is a SECOND Giveaway!!  Check it out below!!



Enter for a chance to win ONE of 10 Print Copies of Jack’s intriguing new book, “Preserving Wealth: The Next Generation.”

Overwhelmed by financial planning? PRESERVING WEALTH offers valuable and simple lessons for saving and investing. We're giving away 10 print copies!  "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

Enter to Win Here:


Giveaway #2 ENDS on May 15th, 2022

**Please note that Giveaway #2 is ONLY open to CA residents**

**This post contains affiliate links and if clicked and a purchase is made, I may receive a small commission to help support this blog.  This does not cost you anything, it just helps pay for all those fabulous community outreach projects and awesome giveaways on here**

Giveaway #1 is sponsored by a third party. Fabulous and Brunette is a registered host of Goddess Fish Promotions.  Prizes are given away by the sponsors and not Fabulous and Brunette. The featured author and Goddess Fish Promotions are solely responsible for the giveaway prize.

Giveaway #2 is also sponsored by a third party. Fabulous and Brunette is a registered host of Goddess Fish Promotions.  Prizes are given away by the sponsors and not Fabulous and Brunette. The featured author, Jack Lumsden; Tellwell Publishing; and Goodreads are solely responsible for the giveaway prize.