Posts by Robb Engen
Money Bag: Cryptocurrency FOMO, Selling Stocks at a Loss, and More
Welcome to the Money Bag, where I answer questions and address comments from readers on a wide range of money topics, myths, and perceptions about money. No question is off limits, so hit me up in the comments section or send me an email about any money topic that’s on your mind. This edition of the Money Bag…
Read MoreWeekend Reading: Housing Boom Edition
The Canadian housing market soared to new heights in 2020 as home prices and housing sales both hit record highs. The Canadian Real Estate Association reported a 47.2% year-over-year increase in annual sales activity, and a 13% year-over-year increase to the he MLS Home Price Index (HPI). The average home price in Canada was a…
Read MoreWealthsimple Trade Review – Canada’s Only Zero-Commission Trading Platform
Wealthsimple Trade is Canada’s first and only zero-commission trading platform. In this Wealthsimple Trade review I’ll explain how you can buy AND sell from among the thousands of stocks and ETFs listed on North American exchanges without paying any fees. I first heard about Wealthsimple Trade in 2018 when it was announced as a new…
Read MoreWeekend Reading: 2020 Portfolio Returns Edition
Mr. Market is the imaginary investor described in Benjamin Graham’s book, The Intelligent Investor. Driven by fear, greed, or apathy on any given day, Mr. Market invests according to his mood rather than rational analysis. It’s fair to describe Mr. Market as manic-depressive, randomly swinging from optimism to pessimism. Last year’s wild stock market ride…
Read MoreNet Worth Update: 2020 Year-End Review
Back in 2012 I decided to start sharing my net worth updates twice a year. I’ve always been transparent with my finances because I think it’s helpful for readers to know where I’m coming from and how I manage my own money. I’m a real person and wrestle with financial decisions just like everyone else.…
Read MoreWeekend Reading: 2021 Financial Goals Edition
I wasn’t sure what to expect when I quit my job last year to focus on blogging, freelance writing, and my fee-only financial planning business. My top priority was to make sure we were able to maintain our current spending and savings rate. In other words, I didn’t want this transition to have any negative…
Read MoreHow Has Your Food Spending Changed During The Pandemic?
The Consumer Price Index (CPI) measures changes in prices paid for a basket of goods and services (i.e., inflation). For the past three decades the Bank of Canada has successfully targeted an inflation rate of between 1% and 3%. The latest figures show year-over-year inflation at 1.9%. But as you know, our personal inflation rate…
Read MoreWeekend Reading: $100,000 Lifetime Loss of CPP Edition
Fewer than 1% of eligible recipients choose to take their CPP benefits at 70. Most Canadians take CPP at age 60, as soon as they’re eligible, perhaps unknowingly giving up substantial lifetime income. Dr. Bonnie-Jeanne MacDonald, Director of Financial Security Research at the National Institute on Ageing, wants to change the conversation around when to…
Read MoreWeekend Reading: 0.99% Mortgage Rate Edition
HSBC Canada made history this week when it announced a 0.99% mortgage rate – the lowest advertised rate ever offered in Canada. The 0.99% mortgage rate is available for high-ratio insured purchases (i.e. for those putting less than 20% down). It’s not a fixed rate, but a steeply discounted variable rate of prime minus 1.46%.…
Read MoreRe-introducing the Scotia Momentum Visa Infinite Card
Long before I started travelling and collecting travel rewards, I used a cash back credit card for my everyday spending. I loved to collect cold-hard cash back on every purchase and then use the rewards to fund a short-term goal, like a family vacation or a weekend away with my wife. My go-to card for…
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