Posts by Robb Engen
Stop Over Thinking Your Money, and Start Rockin’ Your RRSP
Two prominent Canadian personal finance experts have released new books this year that focus on how to simplify and improve your finances. Preet Banerjee’s Stop Over-Thinking Your Money, and Bruce Sellery’s The Moolala Guide To Rockin’ Your RRSP, offer smart and straightforward advice on how to manage your money, with each author breaking down their…
Read MoreMy Advice To Switch Out Of Mutual Funds Draws Ire Of Industry Group
In a recent Toronto Star column, I wrote that mutual fund fees in Canada are some of the highest in the world and because of these fees the vast majority of actively-managed funds lag behind the market. I said that switching to low-cost index mutual funds or ETFs will cut your investment fees to the…
Read More2013 Portfolio Rate Of Return
Last year, with the help of Justin Bender from PWL Capital, I went back and calculated the rate of return from my portfolio of dividend stocks since I started buying shares in 2009. Why? Because it’s important to calculate and compare your portfolio returns to an appropriate benchmark so you can figure out whether active…
Read MoreWeekend Reading: Because Weddings Edition
We launched a new business this week – a fee-only planning service – and the response so far has been fantastic. Thank you for all of your positive comments and emails, we really appreciate the support. If you’re interested in working with us, please check out our fee-only advice page where you can read more…
Read MoreA New Fee-Only Financial Planning Service
My mom and I have written more than 1,000 articles on personal finance and investing over the last three-and-a-half years. The articles speak, for the most part, to the general “you” but aim to make readers think about their own finances and how it can apply to them. We receive countless emails from our readers…
Read MoreNet Worth Update: 2013 Year-End Review
As I put the numbers together for my 2013 year-end review and net worth update I realized that I made two critical errors in my financial plan this year: my financial goals were wildly optimistic – I wanted to achieve a net worth of $360,000 – and I got lazy and failed to properly execute…
Read MoreWeekend Reading: The Third Rail Edition
Attempts to enhance the Canada Pension Plan (CPP) failed this week as Ottawa decided to kick the can down the road and wait for the economy to improve before making any changes to contributions and benefits. Provinces are now looking into their own solutions, including a voluntary pension option. The current average CPP payment to…
Read MoreHow An RRSP Loan Turned My $12,000 Contribution Into $20,000
I’ll admit I’ve never liked the idea of taking out an RRSP loan to boost contributions and generate a higher tax refund. If you can afford to pay back the RRSP loan over 12 months then you probably should have budgeted and saved for higher contributions in the first place instead of borrowing. However, after…
Read MoreFun With Calculators (And Other Online Financial Resources)
Many of our financial decisions involve complicated math that can be tough to decode on our own. Fortunately there are plenty of financial resources and tools available online that can help us make sense of even the most complex scenarios. I went looking for the best online financial resources, calculators, and tools to help Canadians…
Read MoreHow A Lucky Break Launched A Successful Career
I’d like to think I’m a fairly successful person. I have a beautiful family and a fulfilling career. I live in a nice house, spend less than I earn, and have put some money away for a rainy day. Things have turned out pretty good for me so far. Yet when I’m asked how I…
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