Posts by Robb Engen
Why Don’t I Pay Off My Mortgage?
Followers of this blog know that I tend to focus on saving and investing rather than trying to pay off my mortgage faster. Indeed, our household assets are projected to exceed $1 million this year but we’ve still got a $200,000 mortgage to contend with. So why don’t I make it a priority to pay…
Read MoreWeekend Reading: Blocked By Suze Orman Edition
No, I didn’t get blocked by Suze Orman. But respected journalist and consumer advocate Ellen Roseman did when she had the audacity to call out Suze on Twitter, saying, “giving advice made Suze Orman rich and famous, which makes it harder for her to offer advice to normal people anymore.” Ellen tweeted in response to…
Read MoreWeekend Reading: Your Biggest Money Fear Edition
What’s your biggest money fear? The answer likely depends on your age and stage of life. Twenty-somethings might say they fear living in debt forever, or that they’ll never be able to afford a home. Those in their thirties might fear they’ll never stop living paycheque to paycheque. Forty-somethings might fear losing their job and…
Read MoreWeekend Reading: Steady Financial Progress Edition
It’s frustrating to feel like you’re not making any progress with your finances. Maybe you haven’t got a raise for a while, or you’ve been slogging away at debt payments for months at a time, or a stock market dip took your investments right back to where you started. Some people get desperate to make…
Read MoreWomen, Wealth, and Retirement
One of my very first financial planning clients was a single woman in her late 40s named Rachel who lived in Toronto and worked as a self-employed consultant to the not-for-profit sector. She made good money but lacked the confidence to manage her day-to-day finances and save for the long term. Moreover, Rachel provided care…
Read MoreWeekend Reading: Managing Investor Expectations Edition
The reason I put so much emphasis on low investment fees is because it’s one of the few key areas that investors can control (the others being asset allocation, rebalancing, and savings rate). Yet most investors focus on the area they cannot control – their portfolio returns. While it’s reasonable to expect investment returns in…
Read MoreHow To Transfer Your RRSP To Wealthsimple
A client asked me to send step-by-step instructions on how to transfer your RRSP to Wealthsimple. He’s moving his $145,000 portfolio from Primerica over to Wealthsimple’s robo-advisor platform to save on fees. My client’s existing “Asset Builder Fund” charges a management expense ratio (MER) of 2.30 percent – costing him $3,335 in fees each year.…
Read MoreWeekend Reading: Low Canadian Dollar Edition
We’re getting ready for our 32-day trip to the Scotland and Ireland this summer and our family could not be more excited about the itinerary we have planned. One thing that does concern me about the trip is the low Canadian dollar. The loonie hit an 11-day low on Friday, sinking to 74.53 cents USD.…
Read MoreMoney Bag: Investing A Lump Sum For Monthly Income, and Best Credit Card For General Spending
Today I’m answering reader mail for a feature I call the Money Bag. I’ll 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 all the money things you’re…
Read MoreCarGurus vs. Unhaggle: A Hassle Free Car Buying Comparison
Buying a vehicle is likely the second biggest purchase we’ll make in our lives. It’s expensive, a long-term investment, and you rely on it. Most of all, no one wants to overpay or end up with a lemon. Unfortunately, buying a car requires most shoppers to be organized and well-researched. Then you’ll need to spend…
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