Posts by Robb Engen
RESP Account: Getting Started
We set up an RESP for our daughter just a few weeks after she was born. Being new parents with little free time, we just opened the most straightforward RESP account that was available – an RESP GIC Account under a family plan. This account was easy to open and set-up our monthly contributions. The RESP…
Read MoreOnline Fraud Campaign Helps Protect Investors
We strive to provide you with useful information on how to be a savvy investor. When it comes to investment fraud, the more you know about what to look for and be wary of, the better prepared you will be if you get approached with an investment opportunity. BlueHedge: Online Fraud Campaign The Canadian Securities…
Read MoreIs Manulife One Worth A Look?
If you’ve ever seen the “What’s your number?” commercial, you might be curious about the Manulife One account and how it works. The Manulife One account combines your debt, savings and income into one easy to use chequing account. Similar to a traditional home equity line of credit, Manulife One provides you with a secured…
Read MoreMillionaire Teacher Book Review And Giveaway
Andrew Hallam became a debt free millionaire in his 30’s. He’s not a corporate CEO, doctor or lawyer. He works as a high school English teacher – in Singapore, no less – without the comfort of a traditional defined benefit pension plan enjoyed by teachers here in Canada. Hallam wrote Millionaire Teacher for two reasons.…
Read MoreRRSP Portfolio Update 2012
It’s been a while since I’ve given an update on my RRSP portfolio. I made RRSP contributions for 10 years when I worked in the private sector (taking advantage of employer matching contributions), but I changed careers in late 2009 and moved to the public sector. Now that a significant portion of my salary goes…
Read MoreTop Cash Back Credit Cards In Canada
Using a cash back credit card can be a great way to earn rewards for your day-to-day spending. Just make sure you have the discipline pay off your balance in full each month, or the interest charges will more than offset your cash back rewards. With a young family at home, collecting travel rewards isn’t a priority, so…
Read MoreWhy A Mortgage Payment Vacation Is A Bad Idea
We have been paying an extra $600 per month on our mortgage since we moved into our new house last summer. We are taking advantage of increased payment options to reduce our total interest costs and pay down our mortgage faster. Our goal is to pay off our mortgage in less than 15 years. Apparently…
Read MoreWhat’s Your Findependence Day?
I just finished reading Findependence Day by Jonathan Chevreau, the personal finance columnist for the Financial Post. Findependence Day is a fictional personal finance story that follows the lives of a young debt-ridden couple’s long journey to financial independence. I’m sure many Canadians will identify with this story as it guides you through all of…
Read MoreCanada Pension Plan: Understanding CPP
While the Federal government considers increasing the age of eligibility for Old Age Security due to Canada’s aging population and economic challenges, they maintain that our Canada Pension Plan is actuarially sound. Canada Pension Plan’s chief actuary submits a report to Parliament every three years on the financial status of the plan. In June 2011…
Read More4 Advantages To Building A House
We lived in a two-bedroom, one-bathroom starter home for nearly eight years, but we felt like we needed more space to support our growing family. We looked at the houses for sale on MLS and checked out the show homes that were being built in new subdivisions. In the end, we decided that building a…
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