Posts by Robb Engen
Weekend Reading: Retire Rich Edition
One of the best investments you can make when looking to get a handle on your finances is a subscription to MoneySense magazine. For just $25 per year you’ll get eight issues loaded with useful tips and practical advice from some of Canada’s leading financial experts and authors. The MoneySense team is hosting a Retire Rich event on the…
Read MoreHow Is The Fee-Only Planning Business Going?
I’ve written about personal finance and investing for the past five years and over that time received countless emails from readers asking for financial advice about their unique situation. That’s why last year we started a fee-only planning service after recognizing the glaring need for unbiased and objective financial advice in Canada. As far as I know, I’m the only…
Read MoreHow Parents Can Give Their Kids A Financial Leg Up
In a Globe and Mail column last year, Rob Carrick took parents to task for not saving enough for their kids’ education. He said that parents talk a good game – 82 percent want their children to attend University – but the numbers suggest they’re not backing it up with financial support. In a survey of 1,538 young…
Read MoreWeekend Reading: Me and My Money Edition
Back in January I sold my portfolio of dividend stocks and bought two exchange traded funds – Vanguard’s Canada All Cap Index (VCN) and its All-World ex Canada Index (VXC). The move has drawn some interest from readers and media alike, I think in part because I had abandoned a market-beating strategy to “settle” for market returns (minus a…
Read More350 Reasons To Switch Your Banking
When it comes to retaining customers, few businesses have had it easier than Canada’s big six banks. According to a 2014 Google consumer survey, just 14 percent of Canadians changed banks in the past year. This type of sticky relationship is due in part to inertia – many of us become customers for life after…
Read MoreWeekend Reading: Millionaire Next Door Edition
Thomas J. Stanley, who co-authored The Millionaire Next Door, arguably one of the most influential personal finance books ever written, died in a car accident last week at the age of 71. Stanley’s work centered around the idea that financially successful people similar traits, namely living below their means and valuing financial independence over high status.…
Read MoreCRM2: A New Age of Enlightenment for Investors?
Imagine a time when everyday citizens were oppressed and deceived by a select few institutions of authority. They were told how to think, how to act, and what was best for them. But after years of suffering, new ideas began to emerge based on science, reason, and scepticism that challenged authority and helped reform society. These…
Read MoreWeekend Reading: Look in the Mirror Edition
Alberta Premier Jim Prentice got into some hot water this week regarding comments he made during a CBC radio interview about the province’s potential $7-billion revenue shortfall in the upcoming budget year. Prentice said that Albertans have enjoyed the best public services in the country but haven’t built a revenue model to sustain them. “In…
Read MoreAre Low Rates Punishing Savers? Hardly
It’s easy to see how savers feel punished in today’s low interest rate environment. You have to look hard to find a daily savings account that pays more than one percent. Fixed income investments aren’t much better, with 5-year GICs barely touching 2 percent. All of this means that parking your short-term savings will do little more…
Read MoreWeekend Reading: High Mutual Fund Fees Edition
We’ve been beating this drum for years now but a new study by the Canadian Centre for Policy Alternatives suggests that high mutual fund fees could cause Canadians to delay their retirement by as much as 11 years or else leave them with 40 per cent less money for their retirement. The study compares the management fees charged…
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