Preserving Wealth The Next Generation
The Definitive Guide to Protecting, Investing, and Transferring Wealth. This book is based on my experiences working with many families developing and implementing plans to build, preserve and transfer wealth. I hope you enjoy the first chapter! CHAPTER 1: INTRODUCTION—MEET THE CAST It was the usual opening day for our father’s summer cottage, the May […]
When Do You Need The Money?
In a meeting with a potential client, they asked, “How should I invest the money I just received?” The key issues to review are: What is the money for? When do they need it? Situation: They had just received $400,000 income from a company they were associated with. Due to the structure of the business, […]
So, You’re an Executor – What are Your Duties and Liabilities?
Chapter Seven of Preserving Wealth. For your FREE Copy of Preserving Wealth, CLICK HERE The first three days of our vacation were perfect. The temperature was near thirty degrees, with just enough of a breeze for windsurfing. The kids were behaving, and all seemed right with the world. Sally was at the cottage this week, […]
The Four Essential Family Conversations
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Based on my experience of helping many families over the years, I have found that there are four essential conversations that families should be having concerning their financial and estate plans. They are: The Estate Documents Conversation The Eldercare Conversation The […]
Nine Tax Strategies to Pay Less Tax in Retirement
Income tax is one of the largest expenses any retiree has. The Fraser Institute Report indicated that Canadians paid 42.3% of income as taxes in 2024. Your goal in retirement should be to organize your income stream to: reduce the amount of tax you may have to pay preserve any government tax credits preserve government […]
The Three Estate Buckets
Annually with clients, we review how their estate will be distributed to their beneficiaries. We determine if there are any changes in their desires, or opportunities to save taxes and/or fees. In a recent webinar by Michael Kitces, Mathew Jarvis, a US Financial Advisor, shared a concept he uses with clients called the Estate Buckets. […]
A Power of Attorney Guide for Property
Balancing Care and Responsibility Managing a parent’s or anyone’s financial affairs through a Power of Attorney for Property (POA) can be both challenging and a significant responsibility. As a Power of Attorney, you step in if someone cannot manage their own financial affairs. This guide outlines the process and explains what you may be required […]
“Spend the Money”: A Gentle Reminder That Life Is Happening Now
Intro: If you’ve ever felt guilty about spending your own money—even after a lifetime of saving – it turns out, you’re not alone. In a recent chat with Carl Richards, creator of The Sketch Guy and author of the new book Your Money: Reimaging Wealth in 101 Simple Sketches, we talked through one of his […]
“Why Being ‘Less Wrong’ Might Be the Best Plan”
Ever feel like your financial plan has to be perfect? It doesn’t. In fact, trying to make it perfect can actually hold you back. I recently had the chance to speak with Carl Richards, author of the new book Your “Money: Reimaging Wealth in 101 Simple Sketches” — and one idea from our conversation really […]
Three of Our Best Insights for September
Monthly One – Two – Three Newsletter RESOURCE: What is Your Bear Market Plan in Retirement? Unfortunately, market declines and recessions will happen regularly, so your financial and retirement plans must consider them when developing your retirement income and spending strategy. You Could Have 6 Bear Markets Over Your Retirement. Since 1956, the Canadian […]