Posts by Robb Engen
Weekend Reading: Smart RESP Edition
A while back I wrote about how target date funds could be a smart solution for your RESP. Turns out a new robo-advisor called Justwealth had the same idea and is now offering custom Education Target Date Portfolios: “a unique investment solution that transforms itself automatically over time, eventually “maturing” in the exact year that your…
Read MoreAn Automated Solution For Generating Retirement Income
We’re often our own worst enemies when it comes to investing, which is why taking away the human element and automating decisions such as timing of purchases and regularly rebalancing will likely lead to better outcomes for investors. That makes the robo-advisor argument so compelling because it reduces the need for human intervention and sticks to your investment…
Read MoreWeekend Reading: Two Income Trap Edition
The number of dual income families with at least one child has almost doubled since 1976, according to new research released this week by Stats Canada, rising from 36 percent to 69 percent. Meanwhile, the number of single income families dropped from 59 percent to 27 percent. More families are dual-income today for two reasons;…
Read MoreThe Costco Effect On Earning Credit Card Rewards
My wife and I do a lot of our grocery shopping at Costco and a few years ago signed up to become Executive Members, which means we get 2% cash back on nearly every purchase made at Costco. Last year the warehouse giant sent us a reward coupon in the mail for $176.61 and if you…
Read MoreWant A Better Deal? Just Ask
When I worked in the hotel industry at the front desk we had a policy that allowed us to discount a room by up to $20 per night if we thought the guest would walk away from the hotel and go elsewhere. The truth is that I rarely had to rent a room for less than…
Read MoreWeekend Reading: Market Recovery Edition
The TSX had been in a bit of a funk since June 1st 2015 when it closed above 15,000 for the last time. Canada’s major stock market index reached its depths this January 19th when it finished the day at 11,843 – a drop of 21 percent from that June 1st high. Both my RRSP…
Read MorePersonal Finance Lessons: What To Avoid
People often ask me for tips on how to improve their finances and I’m always eager to help. But rather than focusing on mundane money saving tips or talking about where the stock market is headed, I prefer to share lessons on the kinds of products and services to avoid. By steering clear of these personal…
Read More3 Financial Priorities You Need To Address Now
It’s no secret that the roadmap to financial success starts with paying off debt, sticking to a budget, and saving for retirement. But there are other – not quite as sexy – financial priorities that often get overlooked when creating a financial plan. Indeed, I’m talking about the thrilling topic of building an emergency fund,…
Read MoreWeekend Reading: May Long Edition
May long weekend is traditionally for camping, gardening, or venturing out for some of the first outdoor activities of the summer. Unfortunately the weather hasn’t been kind to those of us in southern Alberta who were looking to spend some time outside enjoying the long weekend. So we’re staying indoors and fortunately there was plenty of great reading…
Read MoreWhy Does My Car Dealer Want To Buy Back My Car?
Last week I got a letter from our local car dealer (Hyundai) offering to buy our 2012 Sante Fe and giving out big incentives to purchase a new 2016 Hyundai vehicle. I recall opening a similar letter last year. It went something like this: We want to buy back your Sante Fe. As you…
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