Posts by Robb Engen
Fee Only Financial Planner Vs. Commission Based Advisor
Most people don’t consider using a fee only financial planner when they’re ready to start investing. The first step is usually to meet with a financial advisor at your bank. The advisor assigned to you guides you through a basic risk assessment profile and then, based on your assessment, suggests the appropriate investments. Commission Based…
Read MoreHow Much House Can I Afford?
There’s an important difference between how much house can I get approved for, and how much house can I afford? Your mortgage payments should be low enough so you can take care of your monthly expenses, meet your savings goals and still have a bit of fun. Remember, it’s not just a mortgage payment you have…
Read MoreCelebrating Two Years Of Boomer & Echo
Today marks our second anniversary here on Boomer & Echo, and it’s been an unbelievable journey. In two years, we’ve written over 500 posts, gained more than 3,500 subscribers, seen over 635,000 visits and had nearly 1 million pageviews. When I first stumbled on a popular personal finance blog called Million Dollar Journey, I spent…
Read MoreUsing ETFs Inside Your RRSP
Exchange traded funds have become more popular as investors realize the benefits of lower investment costs and diversification. Most ETFs track a specific index, like the S&P TSX 60, or the S&P 500, and they are traded on stock exchanges – just like individual stocks. Unlike with mutual funds, which can be traded for free,…
Read MoreWhy I Bought Out My Car Lease
I made the final lease payment on my 2007 Hyundai Tucson a few weeks ago. Next week I’m going to the dealership with a cheque for $10,000 to buy out the car lease. The vehicle is still in great shape, and with only 74,000 kilometres on it, I plan on driving it for at least…
Read More35 Ways To Save Money
We all know there are plenty of ways to save money, but some things are so obvious you can classify them as common sense rather than smart spending. Drinking tap water and avoiding fast food certainly fall into that category. Other ways to save money just don’t seem worthwhile. Making your own deodorant or toothpaste…
Read MoreFinancial Advisor For A Day: Can You Live On $1065 A Month?
Wayne Manderly recently separated from his wife after 30 years. He lives on a very small CPP disability pension of $745 a month. Part of the separation agreement means Wayne receives an additional $320 a month in support, bringing his monthly income to $1,065. After selling their mortgage-free home, Wayne moved in to a townhouse…
Read MoreWhere To Find The Best Savings Accounts For Children
Whenever our 3-year old daughter finds a quarter or a loonie lying around the house, she takes it and puts it in her piggy bank. Some people might call this stealing, but I see it as the early signs of a good saver. Now that her piggy bank is getting full, I like the idea…
Read MoreMBNA Smart Cash MasterCard Review
It’s no secret that I love using the MBNA Smart Cash MasterCard for my everyday spending. I’ve been using this cash back credit card for over a year and have received over $700 in cash back rewards so far. Recent changes from MBNA have reduced the amount of cash back you can earn with the…
Read MoreBest Credit Cards For Travel Rewards
Many people like the idea of using a rewards program to collect points and save money on travel. Some of the best credit cards are travel rewards credit cards, which can help you earn points faster and enjoy perks like free airfare, or upgrades when you travel. I use the MBNA Smart Cash MasterCard as…
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