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Carrick On Money

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

Entry archive:

Carrick on money: Canada’s favourite travel rewards credit card is…

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. 

Canada’s favourite travel rewards credit card is…
American Express Air Miles Platinum won in the annual fee category, and Amex Air Miles won in the no-fee category. These cards were the top choice of the 18,179 who voted via the Travel  Rewards Canada website.

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Carrick on money: Seven things the middle class can’t afford any more

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. 

Seven things the middle class can’t afford any more
This is a U.S. list and it’s presented here as context for assessing the Canadian middle class. The things listed as unaffordable for Americans don’t seem to be such a problem here. Example: New vehicles. Canadians are buying new cars and trucks at historically high rates, although they’re using seven- and eight-year loans to do it. Wait a second – maybe our middle class isn’t so much better off.

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Carrick on money: The top five regrets of the dying

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 Top Five regrets of the dying
Much to think about in this list, which appears on a website for financial advisers.

Just say no to the upsell
Don’t let stores convince you to buy something more expensive than you came in for.

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Carrick on money: Twelve moves that make you a cheapskate

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. 

Doing these 12 things makes you a cheapskate
An amusing list that includes stiffing restaurant waiters on tips and prying apart two-ply toilet paper.

Stocks and other terrible investments
Investor advocate Dan Solin lists what he considers to be terrible investments, as well as some good ones. Solin doesn’t like individual stocks – he prefers index funds that give you exposure to all the stocks in a particular stock index.

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Carrick on money: Choosing between eloping or a lavish big wedding

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. 

Should my daughter elope or have a big wedding?
The question really being asked here is whether it’s OK not to spend lavishly on a big wedding.

Planning your 40-year retirement
In the United States, advisers are starting to look at increasing lifespans and preparing clients for 40 years in retirement.

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Carrick on money: Your five-minute retirement readiness checkup

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. 

Do your own five-minute retirement readiness checkup
Introducing the newly revamped version of the federal government’s Canadian Retirement Income Calculator. If you don’t know where you stand on retirement saving, it’s an excellent place to begin.

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Carrick on money: Rich parents are a millennial’s best friend

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. 

Rich parents are a millennial’s best friend
Toronto Life investigates the phenomenon of parents providing financial support to their adult kids through help buying homes, paying the mortgage and covering costs like daycare. I contributed some cautionary comments on parents helping their kids buy a house.

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Carrick on money: This space cadet is raiding his retirement savings

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 space cadet is raiding his retirement savings
An American named Jim Clash has spent a chunk of his retirement savings to pay for a reservation with Virgin Galactic to travel into space.

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Carrick on money: The dangers of low interest rate tunnel vision

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 dangers of low interest rate tunnel vision
Low mortgage rates are the glue holding our housing market together. But this blog post makes the point that there’s more to a good mortgage than a low rate.

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Carrick on money: How a millionaire farmer grew his 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. 

How a millionaire farmer grew his money
Wealth-building lessons from a Missouri farmer named Gary.

How to undo your money mistakes
This blogger figures out a way to earn back the money he lost or wasted. He says: “People talk a lot about regretting financial mistakes but rarely does anyone mention punishing themselves for those mistakes.”

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Carrick on money: My home is the best investment I ever made

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.

My home is the best investment I ever made
Don’t say that to Kyle at the Young and Thrifty blog, or he’ll do something gross. In this post, he questions idea of houses as investments. It may not surprise you that he quotes me questioning the idea of blanket acceptance that homes are investments.

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Carrick on money: I married 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. 

The lifetime guide to avoidable financial blunders
A decade-by-decade look at key financial mistakes to avoid.

I married money
A Washington Post columnist writes about how her marriage, like many others, has helped her achieve greater financial success than if she were single.

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Carrick on money: A report from the front line of housing bidding wars

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. 

Bidding wars for houses: A report from the front
A Q&A with a woman who participated in three bidding wars before nailing a house in Toronto.

Stamps, guns and vases
Odd items people buy to store their wealth.

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Carrick on money: Looking for a formula for retirement success?

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.

Revealed: A formula for retirement success
Savings x return x time = retirement. Read the details here.

It’s not you – the taxman really does talk gibberish
CBC reports that on an internal Canada Revenue Agency audit that says the communications the department sends to taxpayers are “poorly organized, confusing, unprofessional, unduly severe, bureaucratic, one-sided and just plain dense.”

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Carrick on money: Will you be haunted by your choice of 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. 

Will you be haunted by your choice of home?
This video explains how to find out if the house you’re looking at buying is a “stigmatized” property, which means the scene of a crime. Don’t expect your realtor to tell you.

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Carrick on money: Ten things billionaires won’t tell 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. 

Ten things billionaires won’t tell you
Number One on the list: We just get richer and richer.

A car-load of debt
This chart show the striking level of growth in car loans of 72 months or longer in Canada. My own rule of car buying: If you can’t afford to finance a vehicle over five years or less, you can’t afford the vehicle.

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Carrick on money: Your Starbucks habit is not why you’re broke

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. 

Your Starbucks habit is not why you’re broke
“There’s always somebody whining about Starbucks,” a blogger says in a strong rebuttal to all the thinking about cutting back on small luxuries as a budgeting panacea.

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Carrick on money: Confessions of a disgusted former broker

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. 

Confessions of a disgusted former broker
A onetime broker on Wall Street recalls the day he got fed up with his job and what it required him to do.

How working at home can save you money
A work-at-home mom lists three ways she has reduced spending.

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Carrick on money: Five thoughts for rookie investors

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 thoughts for rookie investors
I like this list because it mentions the need to consider your debt level before starting out as an investor.

Don’t worry about a housing correction
A money management firm looks at both sides of the argument about whether Canada’s housing market has overheated. The conclusion is not to worry. “As usual, Canada will most likely muddle through.”

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Carrick on money: How hot housing markets lock out the young

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 a hot housing market victimizes the young
This scathing opinion piece looks at how young Vancouver residents are being locked out of a housing market where prices keep rising.

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Carrick on money: Sex or money – what’s harder to talk about?

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.

Sex or money – what’s harder to talk about?
A blogger looks at the taboos surrounding talk about sex and money and finds that there could be more comfort discussing sex.

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Carrick on money: The best countries to grow old in

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 best countries to grow old in
Canada ranks fourth, Norway first. You’ll also find a list of the worst countries in which to be a senior.

Seniors struggle with housing costs…
Declining incomes and rising home expenses are squeezing seniors’ budgets.

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Carrick on money: The ridiculous expectations of the middle class

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 ridiculous expectations of the middle class
A look at one U.S. family’s finances shows a big gap between lifestyle expectations and cash flow.

Canada’s dumbest charges
CBC’s Marketplace asked viewers which fees and charges bugged them the most. Here’s the list.

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Carrick on money: Condo boom rolls on as buildings fall apart

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. 

Condo boom rolls on as buildings fall apart
Canada’s condo market is drawing money from foreign investors looking for a safe haven. But the quality of the construction in these buildings isn’t always as reliable as our banking system.

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Carrick on money: How to save a fortune, and your marriage

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 save a fortune, and your marriage
Simple – don’t overspend on a wedding. I like this quote: “A diamond may be forever, but a marriage built on materialism and debt sits on shakier ground.”

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Carrick on money: Try not to do anything stupid with your 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.

Try not to do anything stupid with your stocks
A Maclean’s writer says fear is back in the stock market, and that means people will be tempted to abandon sound investing plans. Key point: “Corrections are a regular part of the market, despite what the last two years might have led some to believe.”

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Carrick on money: The moment I outgrew my 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.

The moment I outgrew my money
A blogger reflects on the moment she realized she achieved financial peace by realizing she had enough money and didn’t need to struggle so hard to make more.

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Carrick on money: Will rising rates crush young condo 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.

Will rising rates crush young condo buyers?
A look at how the young people who are big buyers of condos these days would fare if interest rates were to rise.

Why plunging oil prices both help and hurt
They mean lower gasoline prices, but also lower prices for energy stocks. That’s the key consideration here in Canada, where energy is the second largest stock market sector.

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Carrick on money: Great news for millennials: Stocks are plunging

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.

Great news for millennials – stocks are plunging
A sensible argument is raised here – with decades to go until retirement, young people should jump on every chance they get to buy stocks when they’ve fallen hard in price.

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Carrick on money: Ten ways the rich are smarter with 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.

Ten ways the rich are smarter with money
A blogger lays out the ways that wealthy people can make smarter money decisions than your everyday wage slave.

How to put your old iPhone to work
A surprising number of ways to keep your old smartphone useful instead of junking it.

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Carrick on money: Never say this word to a stay-at-home parent

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.

Never say this word to a stay-at-home parent
The word is “allowance,” and it shouldn’t be used to describe money set aside for a stay-at-home parent to spend.

RESPs, from start to spend
A concise overview of how to set up and contribute to a registered retirement education savings plans, a too-often overlooked savings vehicle that parents and grandparents can use to help their kinds pay for a post-secondary education.

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Carrick on money: Why I hope to die at 75

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 I hope to die at 75
You may live longer than the parents, but you’re more likely to be more incapacitated. That’s why this writer says 75 years is enough for him.

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Carrick on money: ‘Retired husband syndrome’ causes stress at 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.

‘Retired husband syndrome’ causes stress at home
This article from The Telegraph in the UK discusses the strain on marriages that can occur when men retire and spend more time at home.

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Carrick on money: Retire early, die sooner?

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.

Retire early, die sooner?
One study suggests the answer is yes, but it’s not a slam-dunk. It says here that staying active is the key to a long life.

A survey of research on how being retired affects your sense of well being.

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Carrick on money: Outrageous tales from an overheated housing market

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.

Outrageous tales from an overheated housing market
Toronto Life highlights the winners and losers in a “viciously competitive, record-breaking market.” Highlight: The street where ‘enter-at-your-own-risk’ houses sell for $100,000 over asking.

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Carrick on money: Don’t let the stock market crash your 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.

Don’t let the stock market crash your retirement
Stock market declines and four other factors that can derail your retirement unless you plan properly.

The problem with home-cooked meals
Cheaper and better for you than fast food, sure. But for a variety of reasons, cooking a balanced meal is hard for some families.

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Carrick on money: The Top Five travel reward programs

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 Top Five travel reward programs
The RewardsCanada website ranks credit card travel rewards in terms of the overall value they provide. Rewards plans focusing on flights, hotels and general travel make the list.

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Carrick on money: Why I don’t say ‘We can’t afford that’

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 I don’t say ‘We can’t afford that’
A blogger makes some great points here about how our success in saving and spending can be affected by the language we use to describe it.

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Carrick on money: Five rookie home-buying mistakes

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 rookie home-buying mistakes
Over-spending, failing to account for the full range of closing costs and more.

About those closing costs when you buy a house…

How rich is your financial adviser?
If you're curious, here are some polite ways to check.

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Carrick on money: Fly out of these cities for the cheapest flights

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.

Fly out of these cities for the cheapest flights
These airports have listed as having the cheapest average airfares for flights to popular destinations.

Want to save more? Stop buying your lunch
Check out the cost savings of bringing your lunch to work rather than buying it – as much as $2,000 to $3,000 or more per year.

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Carrick on money: Older investors need to stop making these mistakes

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.

Older investors need to stop making these mistakes
Working with the wrong financial adviser, trying to time the market and more.

Why smart people can’t agree about stocks
The argument made here, and it’s a good one, is that a lot of your perspective on stocks depends on how old you are and which market cycles you’ve lived through.

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Carrick on money: I’d pay more to live near …

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.

I’d pay more to live near…
Top answers include rapid transit, and shopping and restaurants.

The world’s most expensive cars
The cheapest costs $850,000 U.S., more than two times the average Canadian home price.

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Carrick on money: What I learned by losing a million dollars

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 I learned by losing a million dollars
A blogger raves about a book written by a man named Jim Paul who describes the lessons he learned in losing a fortune.

Ten things you need to teach kids about money
A good list of money basics – it must be earned, it’s not infinite, not everyone owns the things they have, and more.

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Carrick on money: Will I have to support my adult kids forever?

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.

Will I have to support my adult kids forever?

Read here to find out how to help your adult children financially, but also strategically. The idea is for parents to foster financial independence without doing damage their own situation.

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Carrick on money: Seven money mistakes to avoid in your 20s

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.

Seven money mistakes to avoid in your 20s
A good list that includes studying the wrong thing and being too shy to negotiate your salary.

How far will you go to save money?
A blogger writes here about how she wore a pair of disposable one-month contact lenses for two years.

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Carrick on money: Six reasons to tap your emergency fund

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 reasons to tap your emergency fund
Having an emergency fund is Personal Finance 101 stuff. Here, we move to a higher level by looking at what emergencies are serious enough to dip into your stash of savings.

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Carrick on money: High-paying jobs that will make 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.

High-paying jobs that will make you miserable
Physician, junior investment banker, sales manager and more.

The case for buying Manulife
The Motley Fool website explains why investors seeking under-valued stocks should buy Manulife Financial.

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Carrick on money: Three investment products retirees should avoid

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.

Three investment products that retirees should avoid
A useful rundown on a few things that just don’t fit in the investment portfolio of a retiree.

The latest on our Don’t Worry, Be Happy housing market
A thorough review of all the reasons why there are concerns that housing prices could could fall after a long rally.

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Carrick on money: Golf and grandkids in retirement? You’ll be bored

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

Golf and grandkids in retirement? You’ll be bored
Five activities that seem like a good idea before retirement, but may not work out as you expect.

How to avoid arguments over money
All about the benefits of regularly scheduled money talks with your partner.

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Carrick on money: College is a ludicrous waste of 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.

College is a ludicrous waste of money
So says former U.S. Labour Secretary Robert Reich in this blog post. Reich refers to the U.S. situation, where tuitions are more expensive and the economy was harder hit by the recession. But he makes a point that applies well here in Canada – that trades and technician jobs need to be better promoted as a way of generating a good income and lifestyle.

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