Posts by Robb Engen
Weekend Reading: For Brock Hirsche Edition
Just over two years ago Brock Hirsche, the 23-year-old captain of the University of Lethbridge Pronghorns men’s hockey team, was diagnosed with testicular cancer. It’s a disease most commonly found in men aged 15-35 and one that hit the Pronghorn family hard as three members of the program were diagnosed with testicular cancer within the…
Read MoreThe Misguided Beliefs of Financial Advisors
Critics of the investment industry, me included, often point to conflicts of interest that lead to higher costs and poorer outcomes for investors. Indeed, a 2015 study on mutual fund fees conducted by the Brondesbury Group determined that financial advisors who receive commissions from selling mutual funds are often biased in selecting funds that offer…
Read MoreWeekend Reading: Dirty Money Edition
I recently binge-watched a six-part documentary series on Netflix called Dirty Money. Each episode digs into an egregious example of corporate corruption, from cars that cheat emissions tests, to crippling pay day loans, to the great maple syrup heist in Quebec a few years back. All six episodes are worth watching (unless you don’t feel…
Read MoreEngineering A Better Outcome For Investors
When I worked in the hospitality industry our hotel group placed a large emphasis on the profitability of its restaurants and catering departments. Considerable effort was made to drive overall food costs down while at the same time creating a sales culture that pushed the highest margin items to boost revenue. One of the most effective ways…
Read MoreFive Strategies To Enhance Your Retirement And Stave Off Crisis
Are Canadians on the brink of a retirement crisis? Private sector pensions have all but disappeared, and one in three Canadians are nearing retirement without any savings. A growing number of seniors are not only carrying mortgage debt into retirement, but also represent an increasing number of bankruptcy filings. Add longevity risk – the prospect…
Read MoreWeekend Reading: Maxed Out RRSP Edition
Unused contributions available for 2018 = $0. That’s what my RRSP contribution history will say when I check CRA’s My Account later this year, once tax season is over. You see, I finally maxed out my unused RRSP contribution room during the first 60 days of 2018. I built up a lot of RRSP contribution…
Read MoreWeekend Reading: Buffett’s Annual Letter Edition
Warren Buffett’s much anticipated annual letter to shareholders was released this weekend. As always, Buffett shared some great nuggets of wisdom to Berkshire shareholders while setting the stage for his eventual replacement (down to two long-time Berkshire employees, Ajit Jain and Greg Abel). Highlights from Buffett’s annual letter include: Another market-beating year where Berkshire grew…
Read MoreA Robo Investing Solution For Affluent Investors
Robo-advisors have been around for several years now in Canada offering affordable online investing services with a light human touch. You might picture the typical client as a smart young millennial just beginning his or her investing journey. After all, that’s how robo-advisors are often portrayed in the media. But it might surprise you to…
Read MoreLife Insurance Options For Seniors: How To Avoid Getting Screwed
Ella Beck bought a life insurance policy shortly after her husband died in 2007. She was 71 at the time and concerned about burdening her sons with her own eventual funeral costs. Spotting an ad on TV – one of those ‘no medical exam, no questions asked, guaranteed acceptance’ policies – the grieving widow purchased…
Read MoreWeekend Reading: Family Day Edition
Happy Family Day weekend, everyone! This edition of weekend reading includes an introduction to a great new money series on Global, some shoddy life-insurance advice that got BMO into hot-water, a new book from retirement expert Fred Vettese, and why market volatility shouldn’t scare off novice investors. Last year we spent much of Family Day…
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