Posts by Robb Engen
Fed Up: Latest Fee Grab Enrages Banking Customers
For years Canada’s big banks have walked all over their retail customers without fear of repercussion. They’ve raised account fees and hiked minimum balance thresholds at will, invented new charges for moving our money around, and generally nickel-and-dimed us to death just because they can. Related: 10 fees you can avoid Banks get away with…
Read MoreWeekend Reading: Online Lending Edition
Last year, online investing platforms – often called robo-advisors – set up shop in Canada to try and revolutionize the way we invest. Now, online marketplace lending has arrived with hopes to change the way we bank and borrow money. Marketplace lending, which has been growing in popularity in the United States for nearly a…
Read MoreWeekend Reading: Budget 2015 Edition
The federal government delivered a package of goodies for seniors and middle-class families in its 2015 budget this week. The TFSA contribution limit was increased to $10,000 – fulfilling an election promise from 2011 – however it will no longer be indexed to inflation. Changes were made to the RRIF withdrawal schedule – effective immediately a 71-year-old…
Read MoreWhy Living Off The Dividends No Longer Appeals To Me
When I envisioned my retirement years, I dreamed of being so unbelievably wealthy – so fabulously rich – that I’d happily live off the income generated from my multi-million dollar investment portfolio. As I began my investing journey, the idea of living off dividends had tremendous appeal. After all, what retiree wouldn’t love the thought of collecting…
Read MoreWeekend Reading: Passport Renewal Edition
My wife and I first got passports prior to our wedding and honeymoon in 2006. I last travelled to the U.S. in 2011 when I attended a conference in Orlando, Florida, just a few months before the five-year passport expired. Since then, changes to Canada’s passport program include the new e-Passport, along with the option to apply for…
Read More9 Money Myths That Experts Wish You’d Stop Believing
Many of our common beliefs about money come from rules of thumb that have been passed down from previous generations. Old adages, such as pay yourself first and spend less than you earn, have stood the test of time. Other ideas, however, don’t hold up as well today, or were flat-out wrong to begin with.…
Read MoreHow We Find Joy in the Smallest Things – Like Cash Back
It’s amazing how we can always find joy in the smallest of things. Like when I lingered too long at a downtown coffee shop last week and expected to find a parking ticket – but to my surprise a Good Samaritan had plugged the meter for me before time expired. Or the time we went…
Read MoreWeekend Reading: $11,000 TFSA Limit Edition
The federal budget will be unveiled April 21st and one of the hot-button issues is whether the conservatives will follow-through on an election promise to double the TFSA contribution limits. In a confidential letter leaked to the media this week, finance minister Joe Oliver indicated the government would honour that promise and increase TFSA limits to…
Read MoreAre Deferred Sales Charges Holding You Back?
Many investors eventually come to the realization that the mutual funds sold by their bank or investment firm come with unjustifiably high fees. Making the switch to low cost index funds or ETFs sounds like the easiest, most logical choice, however there is typically one final hurdle for investors to overcome. Deferred sales charges –…
Read MoreFree Seminar: Learn How To Get Ripped Off
This week, Toronto area residents will be treated to a “unique opportunity” to learn how to grow their personal wealth by buying and selling real estate. Participants in this free workshop will discover the ingredients for success in real estate, sources of money to fund investments, locating deals in the hidden market, and creating multiple…
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