Posts by Robb Engen
10 Fees You Can Avoid Paying
Fees may be just a part of life, but that doesn’t mean you have to simply accept them. Fees can easily be overlooked when it’s just a few bucks, but even small fees can really destroy your budget. Fortunately, there are ways to get around these unnecessary charges with a little extra effort. Related: 35…
Read MoreGold Plated Pensions: Have We Seen The Last Of Them?
Most defined benefit pensions – also known as gold plated pensions – were designed in an environment that supported and encouraged early retirement. But things are different today. We’re living longer. Life expectancy increased from age 75 to age 82 in the last 35 years. Gold plated pensions in the private sector have disappeared, while public…
Read MoreWeekend Reading: TFSA Book Giveaway Edition
On Monday, I wrote a review of Gordon Pape’s new book, How TFSA’s Can Make You Rich. We promised to give away a copy of that book, plus a copy of, Money Savvy Kids, to one lucky reader. Congratulations to Bryan, whose comment left at 7:33 AM Monday proved to be the winning entry. I’ll…
Read MoreHow TFSAs Can Make You Rich
Tax-Free Savings Accounts have been touted as the most powerful investment option for Canadians since RRSPs were introduced more than 50 years ago. On the surface, TFSAs are a simple personal savings program which allows Canadians over the age of 18 to contribute $5,500 per year into a plan and then withdraw the money, tax…
Read MoreThe Beginner’s Guide On How NOT To Start Investing
I was 19 or 20 years old when I first started investing. I diligently put money aside every paycheque, starting with $50 every two weeks and eventually increasing that to $200 per month. Sounds like I was off to a great start, right? Wrong! Related: How Young Investors Can Get Started Even though my intentions…
Read MoreHow Much Of Your Income Should You Save?
One of the biggest challenges many of us face is how to save for retirement when so many other things are competing for our hard earned dollars. How much of your income should you save for retirement? Wealthy Barber author David Chilton suggests you should save 10% of your gross income for retirement. Any other…
Read MoreThree Ways To Save Money On Your Family Vacation
Taking a family vacation can feel more like work than a holiday when you have two kids under the age of four. Still, I think it’s important to get away from our routine every few months, even if it’s just for a short trip. Last week, after packing what seemed like the entire contents of…
Read MoreShould You Get A Fixed Or Variable Rate Mortgage?
Whether you’re buying a home or looking to renew your mortgage, you’ll need to choose between a fixed or variable rate mortgage. That choice has become more difficult lately as the spread narrows between fixed and variable rates. Ever since prime rate bottomed out at 2.25% back in April 2009 most of us predicted interest…
Read MoreWeekend Reading: Switch And Save Edition
I’ve written a lot about using a cash back credit card to earn some money back on your everyday spending. But it isn’t very smart to use a rewards credit card when you’re struggling with credit card debt. Think about the 1 or 2 percent you’ll earn on your spending versus the 19 or 20…
Read MoreHow To Bank When You’re Living Paycheque To Paycheque
Nearly half of Canadians are living paycheque to paycheque. A recent survey by the Canadian Payroll Association found 47% saying they would face financial hardship if their pay was delayed as little as one week. Living Paycheque To Paycheque One of the easiest ways to save money is on your bank fees, but it can…
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