Posts by Robb Engen
Weekend Reading: Backyard Playground Edition
For a while I resisted the idea of turning our backyard into a playground for our kids (ages 6 and 3). Virtually all of our neighbours either have a swing-set, trampoline, or elaborate playhouse in their backyard. I didn’t want to spend the money, and I justified it with these not-so-rational reasons: I never had a swing-set…
Read MoreThe Steep Cost Of Consumer Loyalty
Retailers collect an obscene amount of data on their customers and they use loyalty programs such as Air Miles and Aeroplan to gain additional insight into our shopping habits and spending patterns. Consumers want to know what data is being collected about them and want retailers who offer loyalty programs to ask for permission before tracking them online or…
Read MoreWeekend Reading: Impact Of Banning Commissions Edition
Back in 2012, the Canadian Securities Administration (CSA) published a discussion paper and request for comment regarding the mutual fund industry fee structure in Canada. Areas of concern included: Lack of understanding and control over fees Potential conflicts of interest Lack of alignment between adviser compensation and services Limited options for do-it-yourself investors Outcomes from…
Read MoreWhy Multiple Income Streams Is A Better Emergency Fund For Millennials
Millennials need to develop an entrepreneurial spirit in order to succeed in today’s economy. Gone are the days when you could graduate debt-free, get a job with a stable employer, work there for three decades, and retire with a healthy pension. Today’s workers change jobs every four to five years, and they’re no stranger to…
Read MoreWeekend Reading: Starting Over Single Edition
This message is brought to you by BMO Wealth Management Starting over can be difficult. You’ve spent most of your adult life building relationships, a career, a place to call home and maybe a family. If you are widowed or divorced and suddenly find yourself starting over again, it can be intimidating looking at your…
Read MoreMy RRSP and TFSA (Or the Parable of the Twins)
There’s a popular story told by banks and financial authors to encourage people to start saving for retirement at an early age. It’s called the Parable of the Twins and it goes something like this: One twin puts aside $3,000 every year into his tax free savings account starting at age 22, and stops at 32 –…
Read MoreCity Councils: Please Ban Door-to-Door Sales
No homeowner appreciates unsolicited visits from companies selling door-to-door. In fact, a survey conducted by the Trading Standards Institute (U.K.) found that 96% of the 9,000 people questioned were opposed to uninvited door-to-door sellers. As I write this, home alarm companies, such as Vivint, and energy companies, such as Just Energy and Direct Energy, have…
Read MoreWeekend Reading: Caring For Aging Parents Edition
This message is brought to you by BMO Wealth Management Your parents took care of you – they put a roof over your head, fed and clothed you, and taught you the things that made you the person you are today. It’s difficult to imagine that one day the people who have always been there,…
Read More12 Tips To Save Money On Car Insurance
Canadians tend to be complacent when it comes to their finances. You bank at the same place where you first opened an account. You get your car insurance through the same company year-after-year, blindly accepting their annual increases because it’s a pain to shop around But the fact is we need to shop around regularly…
Read MoreWeekend Reading: Parenting Your Boomerang Kids Edition
This message is brought to you by BMO Wealth Management Are your kids moving back home because of high debt, a tough job market or maybe they’re just not ready to break out on their own? It’s a situation many parents face. The ‘boomerang generation’, so called for returning home after only a brief time…
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