What are the different investment classes?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Before you invest your money, you should understand what the actual investment is. The following passage describes the three basic investment classes. Alice had listened politely but was clearly getting impatient. “So, Uncle Wayne, you know our situations. What should we […]
What is the process once you Hire a Financial Advisor?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® I was speaking to someone on the phone a couple of weeks ago, and the question they asked was “what is the process after we hire a financial advisor?”. This is a very important question to have answered, and the response […]
How do Financial Advisors get Paid?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® It is important to understand how a financial advisor is compensated if you hire one. The following is a summary from FP Canada. How will I Pay for Your Services? Your planner should disclose in writing how s/he will be paid […]
What is the Next Gen Education Conversation?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® It has been my experience that personal finance has not been taught well in high school or even University. I know that our kids had no such education at school. Simple ideas such as paying off your credit cards monthly, compounding, […]
Are Tax Free Savings Accounts Misnamed?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Ok, smarty pants, what about TFSAs? How do they fit in?” I added. Sandra glared at me and continued. “TFSA stands for Tax Free Savings Account. You don’t get any tax deduction for the money you invested into a TFSA; however, […]
