Posts by Robb Engen
Weekend Reading: Pursue Your Passion Edition
I’ve argued before that doing what you love won’t necessarily pay the bills and so the best way to pursue your passion might be on a freelance basis or as a side business while you maintain a regular day job. This blog is a perfect example. It started out as a hobby and an outlet…
Read MoreMoney and Happiness
A famous study co-authored several years ago by Nobel Prize winning psychologist Daniel Kahneman offered some fascinating insights into the relationship between money and happiness. The study, which analyzed the responses of 450,000 Americans, revealed that people who earned less than $75,000 per year were more likely to feel sad or stressed about their day-to-day lives.…
Read MoreNest Wealth vs. Wealthsimple: A Tale of Two Robo-Advisors
This post provides a detailed review of Nest Wealth and Wealthsimple, comparing two of Canada’s leading robo-advisors for your online investing needs. If we’ve learned anything over the past 10 years, thanks to the likes of Uber and Netflix, it’s that no industry is immune to the impact of disruptive technology. Now Canada’s big banks…
Read MoreZero Down Mortgages: The Last Gasp From A Housing Bubble Ready To Pop?
Since the 2008 financial crisis Canada’s federal government has taken several steps to cool the nation’s housing market; namely reducing the short-lived 40-year mortgages to today’s 25-year amortization period, and eliminating zero down mortgages to require homebuyers put down a minimum five percent. These measures didn’t do much to slow down a rapidly rising real estate market, particularly in…
Read MoreWeekend Reading: Income Splitting for Small Business Edition
When I started my online business I was concerned about how best to minimize taxes on any income earned. As the lone breadwinner in my family, any extra income earned outside of my day job is taxed at my highest marginal rate. I knew that one advantage of having a small business is the ability…
Read MoreThe Pitfalls of Prioritizing Retirement Savings Above All Else
I was 19 years old when I started saving for retirement. A small portion of every paycheque went into my RRSP, starting with $50 every two weeks and eventually increasing that amount to $200 per month. While my intentions were in the right place, the reality is that putting retirement savings ahead of a multitude…
Read MoreRenewing Your Mortgage This Year?
Our mortgage is up for renewal later this year. That’s a shame because I’m enjoying the ultra-low 1.90 percent interest rate on our five-year variable mortgage (prime minus 0.80 percent). It’s a near certainty that I’ll have to renew at a higher rate this summer. My bank is offering five-year variable rates at prime minus…
Read MoreWeekend Reading: Tax Changes and RRSPs Edition
I got my T4 this week and, with the 2015 RRSP contribution deadline just around the corner, my thoughts have turned to tax season and making sure I do everything I can (within reason) to reduce the amount of tax I pay this year. A new government, both provincially here in Alberta and federally, means some…
Read MoreBMO SmartFolio Review
This is a sponsored post written by me on behalf of BMO. All opinions are 100% mine. The emergence of online portfolio management has begun to reshape the investment landscape in Canada and the U.S. The market is estimated to reach assets under management of $300B in North America by 2020. With more than half…
Read MoreThe Advisor Doth Protest Too Much
Transferring your investments away from a mutual fund salesperson and into a do-it-yourself solution can be a frustrating exercise. Of course, the advisor – who counts on your commission – doesn’t want to give up your assets without a fight. And when you say that you’re leaving to start a portfolio of low cost index…
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