A Lifetime of Wealth - Book Summary

And How Not to Lose It

We all hope to overcome fears and dangers of financial failure, fraud, and outliving our money.  In A Lifetime Of Wealth And How Not To Lose It we focus on various kinds of sudden-wealth that can occur in life.  This for example may arise from business, pension, inheritance, or winnings.

Consider...  How vital is it to avoid losing this value?  What difference will it make if you can keep value for your life and loved ones?  If this is the movie starring YOU, how will the story line go if you protect this wealth ...or alternately if you lose it all?   With such questions in mind, here is a brief summary of the book ….and you can also subscribe for further resources at www.GuaranteedIncome4Life.ca/blog as these focus on protecting the Lifestyle and the Wealth that you have worked so hard to achieve.

A Lifetime Of Wealth
A Lifetime of Wealth is the stuff of dreams!  Too few, however, attain or manage to preserve their wealth.   Whether from sale of a lifelong business or the astonishment of sudden winnings, wealth can disappear quickly.  The impact of wealth (or of losing it) is so vital I published this book to share my experience from two careers …16 years as a church pastor, and now since 1995 as a financial advisor.  What’s vital indeed is to align our wealth with the lifestyle we choose and enjoy the confidence of never running out of money!  Plus this means we can sustain family legacies and community giving.  

How Not to Lose It
Not losing this wealth is critical to enjoying the lifestyle you want.  It's truly key to securing your goals for the future and for your loved ones.  Where can you travel?  How can you live?  Who will be there with you?  What dreams will you achieve?  But all of this first assumes that you must never lose this wealth!

Consider for a moment where wealth comes from.  In the book we realize that besides long term savings, wealth generally arises from four events in life.  It could be related to a family business and needing to optimize sale or succession of that business.  It could appear with career pension values where we align options to protect your lifestyle and family estate.  Inheritance is another wealth event with a sensitive array of emotions you feel at such times.   And though rare, lottery winnings also brings a peculiar set of risks.

Regardless how you have created or gained wealth, the last thing you'd ever want to do is let this money slip away through your fingers!

Wealth in your Family Business
With a family business you already know how to create results, contribute to your community, and ultimately draw income and build your future.  But do you know how to sell that business?  ...how to optimize value if you’re preparing to retire?  ...who among your advisors will be vital to this process?  ...and the impact it all has for your future?

In selling a business do you know how you will draw income to sustain your retirement dreams and personal "bucket-list"?   A resource here is your “wealth trajectory” and personal financial plan.  Have you a written financial plan including what you want for your family estate?  "A Lifetime Of Wealth And How Not To Lose It" addresses how to answer these questions and sustain wealth and lifestyle forever ...even to your family and philanthropy.  (Further resource, http://guaranteedincome4life.ca/blog/exit-strategies-for-business/)

Wealth in your Career Pension
Career pension values offer choices that will vitally impact your life.  You'll need a written financial plan that documents these choices and how they align with the results you want to attain.  Fairly put, you need to clearly evaluate the advantages (and risks) of the traditional fixed-income pension versus a personalized pension & lifestyle plan.

In a time when interest rates are very low, population is aging, health costs are escalating, fraud is endemic, and you want to secure life on your own terms ... "A Lifetime Of Wealth -- And How Not To Lose It" helps frame your decisions personally and safely to fit the life you want to enjoy through the years ahead.   (Further resource, http://guaranteedincome4life.ca/blog/5-fs-of-pension-planning/)

Wealth from an Inheritance
Inheriting can be wonderful.  It can also bring sadness and some dangers.  It's devastating to later learn you weren't ready or capable to preserve the wealth you inherited.  One way I help protect people from such tragedy is connecting them with the "values" of those who gave it, and also shape personal values now to sustain and grow this wealth.

We have different families and backgrounds for better or worse.  Yet the experience of identifying and creating “values” can separate those who lose an inheritance, from those who use it to build stronger futures for themselves and their loved ones.  (More resources on estate planning, http://guaranteedincome4life.ca/resources/hazards-to-avoid-in-estate-planning/)

Lottery and other Winnings
Winning wealth brings the near-guarantee of soon losing it.  When a sum of money arrives for no clear reason it may depart almost as quickly.  0% chance of winning can lead to 100% chance of losing it all within a year or so (three years at most).

The experience I share is how to create values around this wealth.  This honours who you are, your underlying values in life, and the dreams you would most want to achieve for yourself, loved ones, and wider community.  This also protects you from guilt that strangely seems to accompany won money -- and the fear that your best day (as a winner) is past and the future will never match the day you won.

In essence, this "values orientation" protects the soul and life itself.  This is a process to establish your desired lifestyle and identity, your personal freedom and ongoing accomplishments, and truly guard and protect what you cherish most.

Ten Massive Mistakes you want to AVOID
If you can avoid the ten greatest mistakes that stole other peoples' wealth, you'll always be able to enjoy your wealth and the lifestyle it offers you.  “Life Income Mandates” for example is a process to ensure you can never run out of money.  Your income will live as long as you do, and at the level  you choose.   (http://guaranteedincome4life.ca/blog/life-income-mandates/)

You will also learn of “Life Horizons Analysis” because future seasons of life are vastly distinct from each other.  Your wealth will align to these seasons and the income you need for enjoyment and comfort along the way.  Think now also if your parents are living today:  you want strong income for early retirement, while they need strong income for health and personal care.  Our process aligns your wealth and income to fit life’s seasons along the way.

You will want to review how professional advisors properly steward wealth.  How family discussions offer clarity now and for your future estate.  How we overcome dangers of inflation – and even worse, double-digit health inflation!  And this means the wealth you own can serve you and your loved ones forever.

A Lifetime of Wealth -- And How Not To Lose It
This is my absolute passion because it touches people I've known and loved through years gone by.  Here you find stories that have shaped me as an advisor, and my conviction that financial service can protect people so much better than it has done up to now.   As a result, you get to enjoy the life you want, and secure value for your family and the higher purposes you hold dear.

Brian Weatherdon, one of our Expert Authors, is is a highly accredited financial advisor, writer and speaker.  To connect with Brian further you can find him on most social media, and at Sovereign Wealth Management Inc, 905-637-3500 x 223; Brian@SovereignWealth.ca

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