What are the key items to consider when reviewing your insurance needs?

insurance needs

Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® As we clattered around in the kitchen, we sum­marized the major points from our discussion about insurance: 1. Many people underestimate the amount of insurance they need and/or buy the wrong kind.  For short-term needs (less than twenty years), buy term […]

What are the Two Main Types of Risks when Investing?

Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® “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 […]

What are the Risks to Retirement Income Planning?

Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® The following is an excerpt that describes some of the risks to retirement income planning. “That’s a great analogy, Uncle Wayne. I can see how it’s important to make sure you have a great plan as you transition to retirement, but […]