Posts by Robb Engen
Are 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…
Read MoreTaking a Long-term View of Your Finances
I like to keep tabs on my finances for both the short-and-long term. A monthly spending summary is great for keeping track of where your paycheque goes, and an annual forecast works well for spotting trends and opportunities for your money. But it’s also nice to gaze into the future. I want to know what…
Read MoreWeekend Reading: Outdated CFP Curriculum Edition
I’ve spent the past two weeks studying hard for part three of the four-course CFP certification program. Learning the program online through the Canadian Institute of Financial Planning is fine, I don’t mind learning online, but I’m frustrated by some of the outdated material. This course is about strategic investment planning and includes gems like technical analysis, financial…
Read MoreNew or Used: What’s Your Car Buying Approach?
Most consumers generally fall into two camps when it comes to buying a car: those who buy new for the latest technology and safety features, and those who buy used because they believe buying new is a waste of money. We all know that a car is a depreciating asset and it loses the most value…
Read MoreWeekend Reading: Alberta Schadenfreude Edition
Plunging oil prices of the past few months has weakened the Alberta economy – so much so that it briefly considered adding a provincial sales tax before deciding on an across-the-board 5 percent spending cut. Is the rest of Canada taking pleasure in Alberta’s misfortune? This CBC article suggests just that while exploring the West vs. East,…
Read MoreNew Tax Credits Announced – Are You Eligible?
If your New Year’s resolution was to get your finances organized, you should make sure efiling your tax return by the deadline is on your to-do list. Your tax return is an important financial document and tax planning should really happen year round. The good news for your 2014 tax return is there are some…
Read MoreWeekend Reading: RSP Ready Edition
RRSP season is in full swing and this Tuesday February 10th from 12pm – 1pm EST I’ll be participating in Tangerine’s RSP Twitter chat to talk about all things retirement. What’s the best retirement advice you’ve ever received? What’s at the top of your wish list once you retire? Is your retirement reality different than…
Read MoreA Saving and Spending Formula You Can Live With
In many ways, Elizabeth Warren’s 2005 bestseller All Your Worth was ahead of its time. Warren, a relentless consumer advocate, eschews mindless frugality and focuses instead on finding the right balance so that you always have enough to pay your bills, have some fun, and save for the future. It’s called the 50/30/20 rule and…
Read MoreWeekend Reading: Super Bowl XLIX Edition
The Super Bowl is the most-watched program on television each year and this year’s match-up between the New England Patriots and Seattle Seahawks will be no exception – as 113 million viewers are expected to tune-in to the big event. I don’t have a horse in this race. My team, the dysfunctional Cleveland Browns, faded…
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