Posts by Robb Engen
Weekend Reading: Market Madness Edition
It was a bad week for the stock markets, highlighted by Friday’s 500+ point Dow Jones meltdown. Meanwhile, the price of a barrel of oil dipped below $40, leading to this cheery headline and photo in Business Insider yesterday: DOW SINKS INTO CORRECTION, OIL CRASHES BELOW $40: Here’s what you need to know: Rob Carrick also commented…
Read MoreOf Course . . . But Maybe
Comedian Louis C.K. closed his 2013 comedy special Oh My God with a hilarious (albeit crude) bit called, “Of course . . . but maybe.” I thought it would be fun to apply the same thinking to personal finance and some of the situations we run into every day. On sense of entitlement Of course…
Read MoreWeekend Reading: Where’s My Mansion Edition
It’s no secret that ordinary investors have been getting screwed over by the investment industry for decades. If you want proof, look no further than Fred Schwed’s nearly 75-year-old classic book, Where Are The Customers’ Yachts?. This week I stumbled upon another gem, this one published in The Globe and Mail 10 years ago by…
Read MoreWelcome To Our HUGE Five-Year Anniversary Contest
I can’t believe it’s been five years! What started out as a mom-and-son blogging duo back in 2010 has turned into more than just our personal finance diary. Boomer & Echo has changed our lives, and we’re thrilled to know that the stories and advice we’ve shared over the years has made a positive impact on many of…
Read MoreWeekend Reading: Birthday Edition
I celebrated my 36th birthday on Friday (my 3-year-old asked if I was turning 76, but that’s beside the point). A birthday is a good time to reflect on the past year and I’ve realized how much my life has changed each and every year since we started this blog. Boomer & Echo has been a…
Read MoreThe Power of Asking: Why You Should Negotiate Everything
Most of us are creatures of habit – we crave routine. We bank at the same place where we first opened an account. We renew our mortgage and insurance policies automatically without shopping around for better rates. Then when we see a promotional offer from a rival cable or internet provider, we complain how loyal…
Read MoreWeekend Reading: Do What You Love Edition
I’ve long been a proponent that people should pursue their dreams and not settle for a less-than-inspiring career. However, in many cases, doing what you love doesn’t necessarily put food on the table or pay the bills. Take this woman, recently featured in the Financial Post, who wanted to quit her public sector career at…
Read MoreProjecting Investment Returns And Inflation
Earlier this year, the Financial Planning Standards Council (FPSC) updated the numbers it uses for projected investment returns and inflation. Financial planners use these numbers as guidelines when projecting retirement needs and income for their clients. The FPSC’s latest guidelines for 2015 peg annual inflation at 2 percent and make the following assumptions for investments…
Read MoreWeekend Reading: Back From Vacation Edition
We spent 10 days on vacation in the Okanagan Valley. The trip was fantastic – our kids loved everything, from visits to Kangaroo Creek Farm and Atlantis Waterslides, to the lazy days on the beach and in the pool, and my wife and I enjoyed several wine tours and one awesome child-free day (thanks to my…
Read MoreHow This Unconventional Pairing Can Save You Money On Your Investments
The financial services industry would have you believe that individual investors don’t want to pay upfront for investment advice – in fact, the industry claims that investors prefer to pay for financial advice through fees that are part of their mutual funds. But we all know that mutual funds in Canada cost too much and…
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