Posts by Robb Engen
Money Bag: Creating Retirement Income, Money Resources For Beginners, All Equity ETF Comparison, and More
Welcome to the Money Bag, where I answer questions and address comments from readers on a wide range of money topics, myths, and perceptions about money. No question is off limits, so hit me up in the comments section or send me an email about any money topic that’s on your mind. This edition of the Money Bag…
Read MoreWeekend Reading: Tax Loss Selling Edition
Many of my clients and blog readers are looking to change their investing strategy to a simple indexing approach using a single asset allocation ETF. This can make a lot of sense if you want to reduce fees, improve diversification, and simplify your portfolio. Indeed, investing complexity has been solved with all-in-one ETF products. Making…
Read MoreRRSP Loans: Why You Should (and Shouldn’t) Get One
February is RRSP season, which for many Canadians means an annual trip to the bank to make an RRSP contribution before the deadline (March 1, 2023). It might be tempting to take out a loan if you don’t have the cash available to make a contribution – the rationale being that in one shot you’ll…
Read MoreMy Own Investing Multiverse Of Madness
A counterfactual is when we create possible alternatives to events that have already occurred – something contrary to what actually happened. We do this all the time. “If only I had set my alarm, I wouldn’t have been late.” “If only I hadn’t been speeding, I wouldn’t have wrecked my car.” We also use counterfactual…
Read MoreSustainable Investing Solutions For DIY Investors
A growing number of investors are concerned about the environmental, social, and governance (ESG) aspects of economic activities and want their investment portfolios to reflect this concern. This demand has been met by the investment industry with an explosion of new mutual funds and ETFs described as sustainable and socially responsible. However, as the landscape…
Read MoreWhat Is A Non-Registered Account And How Does It Work?
Canadian investors have several account types at their disposal to build an investment portfolio. This typically starts with registered accounts – RRSPs and TFSAs – to take advantage of tax deductions, tax deferred growth (RRSP), and tax-free growth (TFSA). But registered accounts come with contribution limits, so once those accounts are filled up many investors…
Read MoreWeekend Reading: Crushing Car Payment Edition
I’ve written before about how buying new vehicles every few years can be a major wealth destroyer. Indeed, next to housing costs, a car payment (or two) can easily be your largest monthly expense. A recent Globe & Mail article (subs) by Rob Carrick caught my attention when he wrote the average monthly car payment…
Read MoreAn Evidence Based Investing Guide
In a world full of conflicts of interest and questionable information, I’d like to offer this evidence based investing guide to help you make informed choices with your money. What’s the point of investing, anyway? We invest our money for future consumption, with the idea that we’ll earn a higher rate of return from investing…
Read MoreHow To Plan Your Own Revenge Travel Year
Most of you know the story by now. The short version goes: I quit my job at the end of 2019 to focus full-time on financial planning and freelance writing. The underlying motivation was to have more time to travel. No longer bound by a set number of vacation days, and with work that could…
Read More5 Retirement Planning Options To Help You Reach Your Retirement Goals
There are lots of unknowns when it comes to retirement planning. Most of us focus on how much we need to save for retirement without giving much thought as to how much we’re going to spend in retirement. I’d say, in general, that most people want to maintain their existing lifestyle, if not enhance it…
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