Posts by Robb Engen
Weekend Reading: Vacation Staycation Edition
It’s vacation time for the next two weeks and while I’ll certainly enjoy the sunshine, and these record setting temperatures, we don’t have any plans to leave southwest Alberta. Yes, that means a staycation, which is perfectly fine with me. So, instead of venturing into B.C. for two weeks, this year we’ll make a few…
Read MoreSteak Knives, Yes. Financial Advice, Maybe Not.
When I was younger I had the opportunity to work for Vector Marketing, the sales arm of Cutco Corporation and the maker of Cutco cutlery – speciality knives with a forever guarantee. The job listing said no experience necessary and it wasn’t all commission-based – you received a guaranteed base rate of pay every time…
Read MoreWeekend Reading: Income Sprinkling Edition
This week Federal Finance Minister Bill Morneau took aim at a tax strategy used by small businesses and private corporations called income sprinkling. Under current rules, anyone who owns shares in a private corporation can receive dividends without having to actual contribute to the business. Small business owners use dividend sprinkling to pay their lower…
Read MoreComparing Birthday Parties for Kids: Gymnastics Centre vs. McDonald’s
Like many parents of school-aged children, our kids regularly attend or get invited to birthday parties for their friends and classmates. We’ve noticed more and more of these birthday parties for kids are being held at an all-in-one facility such as a gymnastics centre, trampoline park, or other play centre. The children play run around…
Read MoreHow Much Do You Need To Save For Retirement?
In your 20’s and 30’s, retirement is so far away that you can barely see it on the horizon. The best way to get there is to save what you can afford – say 10 percent of your income – and then readjust your financial compass as you get closer and have more information. You…
Read MoreWeekend Reading: Rate Hike Drama Edition
As was widely predicted, the Bank of Canada raised its key interest rate by 0.25 percent last week, sparking interest rate drama across the nation about what this ‘means for you’, along with cries from mortgage professionals to ‘lock-in your rates’. I suppose it’s newsworthy considering the BoC hadn’t raised rates in seven years, but…
Read MoreWeekend Reading: Bank of Canada Rate Hike Edition
The Bank of Canada is widely expected to raise its key interest rate for the first time in nearly seven years when it meets next week (July 12th). Strong economic growth and job numbers have paved the way for the central bank to finally signal a rate increase, even if it’s just a moderate 25…
Read MoreA Lannister Always Pays His Debts (And So Should You)
In Game of Thrones, the Lannisters are the wealthiest and most powerful family in the Seven Kingdoms. They’re not afraid to leverage their wealth to forge key alliances and advance their political agenda. But, despite being known for plotting and treachery, the unofficial motto for the family is, “A Lannister always pays his debts.” Unless…
Read MoreWeekend Reading: Canada 150 Edition
Happy Canada Day! We hope you all get a chance to enjoy the Canada 150 celebrations happening across the country. We’re driving southwest to Waterton Lakes National Park to hike The Bear’s Hump and take in the beautiful scenery at this UNESCO World Heritage Site. We’ll also check out Red Rock Canyon and hopefully spot…
Read MoreNet Worth Update: 2017 Mid-Year Review
We’re nearly halfway through the year and so it’s time for my bi-annual net worth update and review for 2017. I was happy to surpass the $500,000 net worth milestone last year and, after paying off our car loan in October, looked forward to cranking up our savings rate and refilling our TFSAs this year.…
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