Posts by Robb Engen
What Self-Employed Canadians Need To Know When Filing Their Taxes
In today’s economic reality, young workers often have to settle for short-term contracts while earning less than they desire. Many turn to freelancing – the gig economy – or full-fledged self-employment to pay the bills. Having business income, or multiple streams of income, can present a challenge come tax-time. Here’s what self-employed Canadians need to…
Read MoreWeekend Reading: Investor Buyer Beware Edition
Online brokerages are strictly prohibited from providing advice, yet many still offer mutual funds that come with trailer fees – which are in place to charge for ongoing advice. See the dilemma? DIY clients who purchase these mutual funds are being charged for advice they cannot and will not receive. Recently, a proposed class action…
Read MoreInvesting In Retirement: How Much Money Should You Keep In Stocks?
Much is written about investing during your working years, but surprisingly little about investing in retirement. How much money should you keep in stocks after retirement? One rule of thumb says the percentage of equities in your portfolio should equal 100 or 110 minus your age, meaning someone turning 70 would have just 30 to…
Read MoreWeekend Reading: Until Markets Settle Down Edition
I guess it’s only human nature to get skittish whenever markets fall. Those feelings are exasperated for investors who have yet to experience a true bear market (2000, 2008). This year has been particularly difficult for neophyte investors who haven’t yet learned the patience and discipline of a long-term investor. For example, on any given…
Read MoreWillful Review: Online Wills For $99
This is a review of Willful Wills, a digital platform where clients can create a will online for as little as $99. (Boomer & Echo readers will receive 10% off any Willful plan purchase by entering the promo code: Boomer.) Technology disrupts many industries by driving down costs and increasing accessibility. Just like how Netflix…
Read MoreWeekend Reading: What Market Volatility Edition
The first quarter of 2018 was a tough one for investors. It started on February 5th with the worst single-day point drop in history for the Dow Jones Industrial Average, which fell 1,175 points that day. Indeed, market volatility was back and, according to some pundits, here to stay. Stock markets can be manic, prone…
Read MoreEndy, Casper, Bear: Three Online Mattress in a Box Companies Compared
How do you disrupt a mature, billion-dollar mattress industry? Take the mattress out of the store, put it online, and deliver it right to your door with a money-back guarantee. That’s exactly how a growing number of online direct-to-consumer start-ups led by Endy Sleep and Casper have begun to nibble away market share from traditional…
Read MoreWeekend Reading: Get LIT(erate) Edition
Financial author Rob Brown, of Wealthing Like Rabbits fame, is on a cross-country financial literacy tour. His mission: target universities and colleges across the country and speak to post-secondary students, new graduates, and young alumni about the importance of financial literacy. There’s a lot of talk about developing and improving financial literacy curriculum in high…
Read MoreHow Families Can Get More Out Of The Canada Child Benefit
The Canada Child Benefit is a tax-free benefit paid monthly to eligible families. It was introduced by the federal government in July 2016, replacing the Universal Child Care Benefit (UCCB) and the Canada Child Tax Benefit (CCTB). The Canada Child Benefit provides a maximum annual benefit of $6,400 per child under the age of six,…
Read MoreI Did The Math On Your Investment Fees And The Results Weren’t Pretty
A few weeks ago I invited readers to share their portfolio details with me so I could help ‘do the math’ on their investment fees. Many of you did, and the results weren’t pretty. From accounts loaded with deferred sales charges (DSCs), management expense ratios (MERs) in the high 2 percent range, and funds overlapping…
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