Posts by Robb Engen
Why I Became A DIY Investor
I haven’t always been a DIY investor. Like many Canadians, I started investing in mutual funds through a financial advisor at my bank. I was getting matching RRSP contributions from my employer, up to 2% of my salary each year, but in order to get the match I had to invest through a specific bank…
Read MoreFree Chequing Account Comparison
More and more, Canadians are exploring their options and seeking no-fee alternatives to traditional fee-based banking products. Sure, you can get a free chequing account at one of the big banks, but you’ll need to carry a high minimum balance or limit your transactions in order to waive the monthly fees. Related: Canadian Chequing Account Comparison…
Read More5 Things To Consider When Choosing Travel Insurance
As Canadians, we have a health care system that allows us to get the treatment we need, almost anywhere. However, in some cases our health coverage doesn’t apply across the border. If you are heading south, whether it’s for the winter in a milder climate, or a quick shopping trip, it’s important to consider travel…
Read MoreHow A Career Change Improved My Life
Whether we leave our job for more money, new opportunities, or to achieve better work-life balance, a career change can have a drastic effect on our lives. I thought I’d spend my entire career in the hospitality industry, but after series of events I ended up on a completely different path. Here’s why I made…
Read MorePros And Cons Of Going Short With Your Mortgage
Fixed or variable? Long or short? Whether you’re a buying your first home or renewing your mortgage, finding the right mortgage term can be a difficult decision. The majority of homeowners opt for a five-year fixed term as protection against future interest rate hikes. However, you’ll pay a premium for that peace of mind, both…
Read MoreBest No-Fee Cash Back Credit Cards In Canada
It’s nice to get cash back rewards on your credit card spending, but the top cash back credit cards come with an annual fee that can take a bite out of your earnings. If you’re not a big spender, the best option is a no-fee cash back credit card. Best No-Fee Cash Back Credit Cards…
Read MoreInvestors Getting Short Changed From Our Banks And Advisors
Last week I asked, can you trust advice from your bank? The bottom line is you should be wary of any advice you receive from someone who can profit from your actions. That doesn’t just hold true for banks and financial advisors, but the same goes for real estate agents, mortgage brokers, insurance brokers and car salesmen. I received…
Read MoreCan You Trust Advice From Your Bank?
Banks are getting savvier about finding ways to sell their products. More and more Canadians are turning to online sources for financial advice, and banks are getting in on the act by engaging customers on their websites and social media channels. One approach the banks have used for years is to conduct a survey about…
Read MoreLiving In The City Vs. The Suburbs: Pros And Cons
There’s a lot to like about buying a home in the suburbs instead of the city. Houses are bigger and more affordable on the outskirts. Arguably, the quality of life is better too. Small communities have quality schools, low crime rates and plenty of amenities nearby, which is desirable when you’re raising a family. Related:…
Read MoreHow To Avoid These 4 Investing Mistakes
Investing isn’t rocket science, but our irrational behaviour often leads to poor returns. For the 20 years ending December 2010, the S&P 500 Index averaged 9.14% a year, but the average equity fund investor earned only 3.83% a year. This happens because we tend to buy after the stock market goes up, and bail when…
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