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Carrick Best Reads

Rob Carrick pulls together the best personal finance ideas of the week

Entry archive:

Carrick best reads: Life insurance for kids? Give me a break

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Note: This is the final edition of Carrick Best Reads. To continue receiving my picks for best personal finance reads and more, subscribe to my twice-weekly Carrick On Money newsletter. Sign up here.

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Carrick best reads: Why are hotels so stingy with free Wi-Fi?

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Why are hotels so stingy with free Wi-Fi?
This article points out something I’ve noticed myself – that budget hotels frequently offer free Wi-Fi for guests, but more expensive hotels do not.

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Carrick best reads: Five things yoga can teach you about money

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Five things yoga can teach you about money
Balance, flexibility and other aspects of yoga that also apply to managing money.

Avoid these estate planning blunders
What does a "messed up estate" look like? The Blunt Bean Counter blog explains.

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Carrick best reads: Boomers flocking to rentals

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Boomers flock to rentals
More and more boomers in the United States are renting instead of owning a home. After the housing market collapse of 2008, many remain soured on home ownership.

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Carrick best reads: 26 ways to teach kids good money habits

ROB CARRICK

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

26 ways to teach kids good money habits
A wide-ranging list that I bet will have some ideas you haven’t thought of.

Sledgehammer vs. scalpel
Two personal finance bloggers discuss whether it’s necessary to expand the Canada Pension Plan, and how best to go about it. Smart analysis here.

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Carrick best reads: How travellers can duck the lowly loonie

ROB CARRICK

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How travellers can duck the lowly loonie
Pick a good travel rewards credit card and earn cash or points that offset the extra costs of converting Canadian dollars into other currencies. Here’s a list of the top travel reward cards for 2016.

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Carrick best reads: Don’t be a supermarket checkout line chump

ROB CARRICK

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Don’t be a supermarket checkout line chump
Soaring food prices as a result of our weak dollar make this list of Top 10 food shopping mistakes particularly relevant right now.

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Carrick best reads: Lego’s been a better investment than stocks

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Lego’s been a better investment than stocks
Time’s Money website says the value of Lego sets (in pristine shape) have risen an average of 12 per cent annually over the past 15 years. That beats gold or the stock markets.

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Carrick best reads: It’s an economic downturn, not the apocalypse

ROB CARRICK

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

It’s an economic downturn — not the apocalypse
My former Globe and Mail colleague Alan Freeman provides some calming perspective here on the country’s economic troubles and the government’s options for addressing them.

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Carrick best reads: The lesson of the $10,000 hotel room

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

The lesson of the $10,000 hotel room
A blogger talks about her disappointment at the $10,000 (U.S.) suite her company booked for client meetings in Las Vegas. The lesson: More expensive doesn’t mean better.

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Carrick best reads: How winning the lottery makes you miserable

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How winning the lottery makes you miserable
Many stories about lottery winners remind us that money does not buy happiness. Though I imagine this week’s Powerball winner is feeling pretty good right now.

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Carrick best reads: Sell (almost) everything and a contrarian view

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Sell (almost) everything
The financial industry’s message to investors and clients in volatile times is don’t panic. Now, a major global bank is warning investors about a disastrous 2016 and suggesting they sell everything except high quality bonds.

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Carrick best reads: No way my kids will be renters

ROB CARRICK

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

No way my kids will be renters
Talk to anyone in the real estate business and you’ll hear that a lot of young home buyers are getting help from their parents. This report from Vancouver shows how parents are going beyond providing money for a down payment and becoming co-owners of properties with their kids.

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Carrick best reads: Six tips for investors when stocks plunge

ROB CARRICK

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Six tips for investors when stocks plunge
Smart common sense points from the New York Times that will help ease your mind after a tough start to the year for the stock markets.

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Carrick best reads: Travel reward trends for 2016

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Travel reward trends for 2016
Predictions of what to expect from credit card travel rewards in 2016.

What’s harder than being a billionaire?
Apparently, it’s staying a billionaire. Read here about how some of the billionaires of 1995 weren’t on the list in 2015.

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Carrick best reads: Over 50 and buying a first home

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Over 50 and buying a first home
The average age of new home buyers in the United States last year was 31, but 7 per cent were in the 55 to 74 age bracket.

The Top 16 Canadian dividend growth stocks for 2016
A blogger pitches his dividend favourites. As ever, more research is required to see if these stocks are a fit for you.

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Carrick best reads: The broke person’s guide to decorating

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

The broke person’s guide to decorating
Cheap, fun ways to improve the look of your place without spending a lot of money.

What if you invest just before a market crash?
An investment adviser argues in this blog post that you might actually do reasonably well. The implication here is that you’re better off getting into the market than sitting in cash while waiting for a perfect moment.

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Carrick best reads: Enough with the tales of heroic frugality

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Enough with the tales of heroic frugality
A smart take on the backlash against a guy who lived like a monk to get his mortgage paid off in three years.

Here’s yet another insightful view on this story.

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Carrick best reads: How to cut spending and retire early

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How to cut spending and retire early
Even with longer lifespans and tough financial markets, people still dream about early retirement.

What old age is really like
Aging is such a big theme in personal finance that I thought it worthwhile to include this New Yorker article on the topic. It compares perceptions of aging with the reality reported by various authors and researchers.

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Carrick best reads: 10 money tips for starting a new year

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

10 money tips for starting a new year
Some useful thoughts here on how to gauge whether your finances are on track.

The rising cost of daycare
This list of the top six parenting trends for 2016 includes two that suggest people are willing to spend big money on the best daycare for their kids.

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Carrick best reads: What employees want even more than a raise

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

What employees want even more than a raise
I hear plenty of people saying their pay is falling behind a rising cost of living. But according to surveys, people would rather receive benefits like more vacation, performance bonuses and a flexible schedule.

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Carrick best reads: How life is better when you’re debt-free

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How life is better when you’re debt-free
A fun list of things to do when your debts are paid off. Focuses a lot on how you’ll have less to worry about with no debts.

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Carrick best reads: Is it OK to be a Christmas gift Scrooge?

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Is it OK to be a Christmas gift Scrooge?
A credit counselling agency’s blog says it’s OK to give your time instead of money.

Thoughts on whether stocks are too risky for seniors
A blogger writes about trying to find the right investment mix for his mother, a senior.

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Carrick best reads: This stealth mortgage change may cost you

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

This stealth mortgage change may cost you
A mortgage planner writes about a mortgage change that was announced last week at the same time as the higher down payment rules but got little attention. The changes affect the costs lenders face when providing mortgages, and they could results in higher mortgage rates. In fact, this may already be happening.

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Carrick best reads: These are your biggest financial blunders of 2015

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

These are your biggest financial blunders of 2015
A financial planner lets people have it for mistakes made in investing, budgeting and being too emotional about money.

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Carrick best reads: Are you prepared for a frugal retirement?

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Are you prepared for a frugal retirement?
Retirement has been marketed by the financial industry as a time to reward yourself for a lifetime’s hard work. But some of us will struggle to make our finances work in retirement, just as many people do in their working years. Here are some thoughts for people looking ahead to a frugal retirement.

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Carrick best reads: Ten warning signs for investors in 2016

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Ten warning signs for investors in 2016
A roundup of things to bear in mind. Nothing to alter a well-conserved long-term investing plan, though.

How to keep your brain sharp in retirement
Seniors are increasingly looking at games like chess and bridge to maintain their mental acuity.

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Carrick best reads: Ottawa’s TFSA changes are historic

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Ottawa’s TFSA changes are historic
This Maclean’s article says the decline in the TFSA contribution limit to $5,500 next year from $10,000 this year is particularly noteworthy. In the past 58 years, it’s the first reduction in the annual contribution room of a tax-deferred, registered savings program. Some very good analysis here on how TFSAs were framed when they were first introduced – as an RRSP for everything besides retirement – and how they’re being used now as a way to shelter investments from tax.

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Carrick best reads: High house prices explained

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

High house prices explained
It says here that baby boomers are hanging on to their houses longer instead of downsizing, and that’s creating a supply-demand imbalance that supports higher prices. This is a U.S. report, but it could easily have been written about Toronto’s housing market. When I was in the city recently talking to real estate experts, a shortage of supply was cited over and over as a source of support for the city’s high and rising prices.

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Carrick best reads: Retirees are a rather happy bunch

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Retirees are a rather happy bunch
A U.S. survey finds the vast majority of retirees find their retirement to be very or moderately satisfying.

Debt problems with income of $400,000 a year?
You bet. The non-profit credit counselling agency Credit Canada even has an example for you to read about.

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Carrick best reads: The world’s worst career advice

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

This is the world’s worst career advice
It’s "follow your passion," a phrase we too often foist on young people planning what career to pursue. Click here for a better way to map out a career.

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Carrick best reads: How geniuses handle a financial windfall

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How geniuses handle a financial windfall
The New York Times looks at how winners of MacArthur Foundation fellowships, worth $625,000 (U.S.) over five years, spend the money.

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Carrick best reads: Old cars, ugly houses help you retire rich

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Old cars, ugly houses help you retire rich
This blog post talks about plugging the major money leaks in your life – cars and houses.

They steal everything from Rolex watches to pizza
Here’s a list of the favourite purchases of scammers who steal credit card data.

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Carrick best reads: Not buying a house was her smartest move

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Not buying a house was her smartest move
A woman decides to rent, not buy, after a divorce. Her rationale: Better schools for her daughters.

This is what $1,000 in month in rent gets you across Canada
Ranging from basic one bedroom apartments to houses with three bedrooms.

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Carrick best reads: These open house tricks will wow buyers

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

These open house tricks will wow buyers
Some clever stuff here that won’t cost you much.

New thoughts on what to put in your RESP
A case is made here for considering segregated funds – funds with limited insurance guarantees against losing money – for registered educations savings plans. The idea here is to protect against a market decline that happens just as you need to start withdrawing money from the RESP. You can also plan for this by ratcheting down the level of stock market exposure and adding GICs or bonds as your child progresses through high school.

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Carrick best reads: Beware the retirement splurge

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Beware the retirement splurge
Research shows some people are spending more in retirement, not less. One of the great debates over retirement is what percentage of your working income you’ll need when you retire. It says here the general rule is 80 per cent, but some experts say 50 per cent. Apparently 100 per cent or more is required for some people.

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Carrick best reads: Weird stuff people found in their new homes

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Weird stuff people found in their new homes
Dead chickens, graves in the backyard, a used body bag – all of these and more were found by people after moving into a new home.

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Carrick best reads: Toronto is king of overpriced housing

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Toronto is king of over-priced housing
All about an Economist report on global housing markets in which Toronto has the highest housing prices in relation to its rental rates.

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Carrick best reads: Why mortgage rates are rising

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Why mortgage rates are rising
A mortgage planner documents recent increases in fixed and variable-rate mortgages.

25 questions to ask a potential financial adviser
I’ve seen plenty of similar lists over the years and this is one of the best.

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Carrick talks money: A passionate defence of annuities

ROB CARRICK

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

In defence of annuities
A U.S. money manager’s takedown of annuities drew this strong and persuasive defence from Prof. Moshe Milevsky, associate professor of finance at York University’s Schulich School of Business in Toronto and executive director of the IFID Centre at the Fields Institute for Research in Mathematical Sciences.

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Carrick best reads: Millennials see kids as a financial luxury

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Millennials see kids as a financial luxury
A survey finds that 55.6 per cent of people say real estate prices in their region directly impact their ability to start or expand their family. Among millennials, that percentage climbs to 72 per cent.

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Carrick best reads: Expensive weddings = shorter marriages

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Expensive weddings = shorter marriages
That’s Number Eight on this list of 10 things people should know about money before they turn 30. It’s a U.S. list, so excuse the references to 401Ks instead of RRSPs.

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Carrick best reads: Here’s what a housing bust looks like

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Here’s what a housing bust looks like
Welcome to Fort McMurray, Alta., where low oil prices have left the real estate market in rough shape. A couple you’ll read about here spent tens of thousands on upgrades to their townhome, only to see if sit on the market for five months without a single offer.

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Carrick best reads: Hey millennials, buy the latte, skip the house

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Memo to millennials: Buy the latte, skip the house
A millennial entrepreneur’s strong, smart advice to young people about money.

Help for parents teaching kids about money
Introducing Gifting Sense, a free online service developed by a former economist and bank employee to help parents teach their kids to think before they buy.

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Carrick best reads: Men save more, women save better

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Men save more, women save better
A U.S. study shows that women save more than men for retirement and will be better able to live within their means.

Seven home improvements that cost less than a fancy dinner
Fresh paint, a new shower curtain and more.

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Carrick best reads: Moving back home with the parents – at age 34

Rob Carrick

The best of the Web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Moving back home with the parents – at age 34
A woman writes here about how she had to move back home with her parents at age 34 to finally get a grip on her spending habits.

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Carrick best reads: Why she can’t afford to buy a house

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Why she can’t afford to buy a house
“Young workers must take jobs that are less well paying, for fewer hours, which they often over-qualified for,” a millennial writes here. Worth reading if you think there’s an endless pool of first-time buyers to keep our housing market going.

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Carrick best reads: 21 signs you’re financially unstable

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

21 signs you’re financially unstable
A financial planner created this list of telltale signs someone is struggling.

So frugal they shared a tooth brush
A blogger talks about his extreme saving days, when his obsession to save money was such that he even, yes, shared a tooth brush with his wife.

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Carrick best reads: Pity the high-earning poor person

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Pity the high-earning poor person
There are people who earn a decent salary, but still live paycheque to paycheque. Read more about it here.

Four urban myths about your car
No, you don’t need to change your car’s oil every 5,000 kilometres.

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Carrick best reads: How much tax are you really paying?

Rob Carrick

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

How much tax are you really paying?
We focus a lot on marginal tax rates, but this blog post makes the point that a more accurate measure is your average tax rate.

Much of what we picture about retirement is wrong
Think retirees are keen to travel, volunteer and otherwise keep busy? A survey by the mutual fund giant Fidelity finds that’s not actually the case.

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