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If you're looking for a smart way to invest your savings, consider passive investing as part of your financial plan.

Advocates of this method say you're wasting your money paying a fund manager whopping fees to pick stocks for you -- because once you're done paying for his or her brainpower, you're no longer ahead of the market.

Instead, focus on broad asset classes and buy an index fund or ETF that represents those classes.

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Ian Black, a principal at the fee-only financial advisory firm Macdonald, Shymko & Company Ltd. in Vancouver, took your questions on passive investing and how effective it is. He is a registered financial planner and has been advising clients for over 15 years.

Here's the Financial Facelift case that he took on:

Mortgage-free, and retirement-bound Vancouver couple wonder how to employ extra cash: sock it away or buy rental property?

Click in the window below to replay the discussion. BlackBerry and iPhone users can view a mobile-friendly version by clicking here.

<iframe src="" scrolling="no" height="650px" width="600px" frameBorder ="0" allowTransparency="true" ><a href="" >Passive investing: Making it work for you</a></iframe>

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