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Carrick On Money

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

Entry archive:

Carrick on money: High house prices are a burden on society

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 are a burden on society
This financial blogger used to think warnings about high real estate values were overblown. Now, he thinks high prices are a societal problem.

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Your parents are richer than you think

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 parents are richer than you think
A survey shows that young people significantly underestimate the wealth of their parents.

Customers complain about this Aeroplan flight
A look at some of the complaints of people who were switched from CIBC to TD as part of a revamping of Aeroplan-linked reward credit cards at the two banks.

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Four kinds of insurance you don't need

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.

Four kinds of insurance you DON’T need
Identity theft coverage, extended warranties and more.

Mind those monthly income funds
Mutual fund analyst Dan Hallett warns investors here that they should expect more monthly income funds to cut their distributions.

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Carrick on money: Cheap vacations? Look no further than these cities

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.

Cheap vacations? Look no further than these cities
Top 10 lists of cheap U.S. and international cities as judged by costs for hotels, airport taxis, restaurants and cocktails.

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Carrick on money: The hottest, quietest Canadian real estate 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.

The hottest, quietest Canadian real estate market
It’s Hamilton, roughly one hour’s drive from Toronto (barring highway traffic problems).

How a brighter U.S. jobs outlook could push up mortgage rates
A mortgage broker explains the linkage between the health of the U.S. economy and Canadian mortgage rates.

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Carrick on money: Is trading stocks for suckers?

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.

“With houses, Canadians expect only gains”
Housing bear Garth Turner makes this important point in an analysis of our differing attitudes toward risk in the stock and housing markets.

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Eight steps to raising money-savvy kids

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.

Eight steps to raising money-savvy kids
Personal finance bloggers share ideas they’ve used to teach their own kids about money.

The fairy dust stock market
An argument is made here that the stock markets have been shrugging off some alarming global developments lately, which suggests the second half of the year won’t be as good for markets as the first.

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Stop blaming boomers for their retirement woes

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.

Stop blaming boomers for their retirement woes
A blogger disputes the often-heard narrative that baby boomers lack the money they need to retire with financial security because they’re better spenders than savers. She argues that there are other factors at work, including corporate downsizing and the shift away from defined benefit pension plans.

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Five bad money habits you really should 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.

Five bad money habits you really should break
Paying bills late, spending money as soon as you receive it and more.

Check out the six “spending personalities” listed here to see which one best matches you.

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Carrick on money: Canadian investors are (mostly) losers

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.

Canadian investors are (mostly) losers
The U.S. investor advocate Dan Solin writes here that while there is much to admire about Canada, investors here are “clueless about basic principles of investing.”

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Carrick on money: Boomerang kids aren’t bouncing back

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.

Boomerang kids aren’t bouncing back
The New York Times looks at how moving back home is working out for millenials. In some cases, they’re just not able to find jobs that will enable them to achieve financial independence. Note the stunningly high debt levels some of these young adults have racked up. A reminder of how much higher U.S. post-secondary tuition costs can be.

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Carrick on money: Eight money mistakes that newlyweds make

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 seniors wish their financial advisers knew
This list is aimed at advisers, but it’s worth reading by seniors who want to start a dialogue with their advisers to get better service. Key points: Trust is paramount, and aggressive sales pitches are not appreciated.

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Carrick on money: Stop saying those nasty things about the super-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.

Stop saying those nasty things about the super-rich
A lot of the things we believe about the uber-wealthy just aren’t true. For example, they didn’t all inherit their money, and they don’t all own private jets and yachts.

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Carrick on Money: Must-haves for your investing toolbox

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.

Must-haves for your investing toolbox

1.) Calculators: The Investing For Me blog offers a tonne of calculators and worksheets on budgeting, debt management, retirement planning and investing.

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Carrick on money: Five horrifying truths about funeral 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.

Houses as an investment? Get over it
A blogger deconstructs the widely held notion that houses are an investment.

Meet the ATM of the future
Biometric scanning of your palm prints and delivery of cash in your choice of denominations are among the features already being tested.

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Carrick on money: What we’re really teaching our kids 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.

What we’re really teaching our kids about money
All about the “money scripts,” or personal beliefs about money that we pass on to kids.

How to raise money-smart kids – some suggestions come from a mortgage and credit counselling expert.

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Carrick on money: Hockey pricier than horseback riding for kids

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.

Hockey now pricier than horseback riding for kids
A study shows that hockey is the second most expensive of 44 sports for kids. Water-skiing came in at Number One.

Tales from two expensive housing markets
Toronto Life profiles some young families raising kids in condos, including a couple with a 10-month-old baby living in a 607-square-foot, one-bedroom-plus-den unit.

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35-year-old completes his million dollar journey

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.

Winners and losers in Canada’s housing market
This infographic highlights wins like lower mortgage rates and losses like unsustainable price growth in come cities.

35-year-old financial blogger completes his million dollar journey
The guy behind the Million Dollar Journey blog has for years been chronicling his attempt to reach $1-million in net worth. Read here about how he reached that goal and the advice he has for others to reach their financial goals.

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Carrick on Money: The stress-free guide to downsizing your 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.

The stress-free guide to downsizing your home
A thorough look at how to manage the process of downsizing. Did you know there are downsizing or relocation services that will manage the move for you?

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Carrick on Money: Eight surprise costs for new homeowners

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.

Eight surprise costs for new homeowners
Changing the locks, repairing appliances, adding window coverings and more.

Dear Mrs. Buffett…
An ETF analyst gently calls out Warren Buffett for investing his wife’s inheritance in an exchange-traded fund tracking the S&P 500. It’s not that Buffett chose an ETF. Rather, the issue is that he should have chosen one that tracks a broader index that includes small- and medium-size companies instead of just big blue chips.

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Carrick on money: The secret to finding winning investments

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 secret to finding winning investments
This New York Times column says it’s more useful to look at how much a product costs to own than at its past returns.

The travel reward cards that travel bloggers use
Twenty travel enthusiasts were asked what travel reward credit cards they use, and for their best tips on saving money while on the road.

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Carrick on money: Where the smart real estate money is going

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.

Words of wisdom
A father’s advice to his graduating son on money and life.

What the latest economic news means to mortgage rates
A mortgage broker examines the past week’s economic developments and finds they support his view that mortgage rates will stay low for the foreseeable future.

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Carrick on money: Need money for retirement? Cut off your kids

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.

Need money for retirement? Cut off your kids
That’s one of the points listed in this blog post on how to cut retirement expenses.

In this recent column, I note the significant level of financial support that parents are giving their adult kids. Some are re-mortgaging their homes and dipping into their retirement savings.

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Carrick on money: Retirement isn’t all golf and grandkids

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.

Retirement isn’t all golf and grandkids
Five myths about retirement, the sum of which is that it will likely cost more than you think to retire.

Car leasing grows in popularity
A rising number of Americans are leasing cars rather than buying. This article discusses the trend in the context of the growth of “non-ownership” consumption, where people rent temporary access to things rather than buying them.

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Carrick on money: When a Canadian buys a U.S. 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.

When a Canadian buys a U.S. home
A mortgage planner answers a question asked by a woman who is moving to the United States and wants to know how to finance a home purchase there.

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Carrick on money: How Canada shamed the wealthiest nation on earth

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 Canada shamed the wealthiest nation on earth
A writer for the website Salon looks at how Canada’s middle class came to be wealthier than its U.S. counterpart.

For a long life, buy booze over vitamins
This blog posts looks at a study of people who lived past 90. One interesting finding is that taking vitamin supplements does not increase lifespan, while having up to two drinks per day does.

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Carrick on money: Nine signs you’re in debt denial

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.

Nine signs you’re in debt denial
You bought a house expecting your income to rise later. Instead, your debt has risen sharply in the past year.

The investment industry at its ugliest
CBC reports on an Ontario couple that gave some proceeds from the sale of their house to a mutual fund salesman who forged their signature to buy high-risk investments. The company that employed this guy has ignored a ruling from the Ombudsman for Banking Services and Investments to compensate the couple.

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Carrick on money: Will millennials ruin parents’ retirement dreams?

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 millennials ruin parents’ retirement dreams?
This Wall Street Journal video treats young adults moving home as slackers who are bleeding their parents dry.

Here’s my perspective on what Generation Y’s financial problems mean to parents. I’ll be writing more on this shortly.

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Carrick on money: Fight inflation in retirement with dividend 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.

Fight inflation in retirement with dividend stocks
Here’s a look at five U.S. dividend stocks that have the potential to offset inflation through regular dividend increases.

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Carrick on money: Are low mortgage rates here to stay?

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 low mortgage rates here to stay?
A look at how financial markets are getting more comfortable with the idea that interest rates will stay low for longer than expected.

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Carrick on money: London's slimmest house – just 99 inches – hits the 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.

Weird stories from a hot housing market
Here’s a London home costing $1.3-million (Canadian) that has buyers queuing up despite the fact that the previous owners are buried in the garden.

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Carrick on money: Claim denied – the trouble with travel insurance

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.

Claim denied – the trouble with travel insurance
CBC reports on three cases where people bought travel medical insurance from banks and had their expensive claims denied.

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Carrick on money: Ask yourself these questions before buying a 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.

Ask yourself these questions before buying a home
I like this list because it gets you to think about preferred lifestyle and future plans.

Here’s a calculator you can use to help you work through the question of buying or renting a home. It was created by the New York Times, so it’s U.S.-focused. But it does help outline the many costs that homeowners face and renters avoid.

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Carrick on money: Retirement advice for 30-year-olds

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

Retirement advice for 30-year-olds
Some retirement experts were asked what advice they wish they had when they were 30. Here are their answers.

Why you should toss your jeans in the freezer
They’ll last longer, the CEO of Levi’s says. Plus, you’ll help the environment by not washing them.

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Carrick on money: Families are choking on their houses and cars

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.

Families are choking on their houses and cars
A U.S.-focused look at how big a slice of family budgets goes to cars and houses. The numbers have to be worse in Canada, where the housing market has been far stronger in the past few years.

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Carrick on money: Everything you need to know about rental properties

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.

Everything you need to know about rental properties
A Q&A from the Blunt Bean Counter blog. It’s a follow-up to a very popular post of a few years ago on the tax implications of purchasing a rental property.

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Carrick on money: Read this before dumping your dividend 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.

Read this before dumping your dividend stocks
They may be well-suited to your investing needs, even if rising interest rates limit their returns.

Retirees, get rid of the clutter
Clear the junk in your home, keep the essentials. It’s a gift to your children, one retiree says in this USA Today article.

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Carrick on money: Why many retired women live in poverty

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 many retired women live in poverty
U.S. figures show that women are almost twice as likely as men to live below the poverty line during retirement.

11 things you didn’t know about Costco
If you shop there, as my wife and I sometimes do, you’ll find this list fascinating: Top-selling item: Kirkland brand (that’s the house label) toilet paper.

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Carrick on money: Calling all adventurous retirees

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.

Calling all adventurous retirees
This New York Times article talks about the freedom and mobility of living out of a supersize motor home in retirement. Yes, the monster gas bills are discussed here.

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Carrick on money: Kids’ birthday parties are out of control

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.

Kids’ birthday parties are bananas these days
A mother featured in this story paid $1,000 for her one-year-old to have a Paris-themed party with a mini Louvre and fancy pastries. The point made here: You don’t have to spend that much.

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Carrick on money: Financial planning for singletons

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.

Financial planning for singletons
A two-part look at the differences – and, let’s be honest – disadvantages that single people face in financial planning. Here’s Part One and here’s Part Two.

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Carrick on money: What kills bull markets?

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 kills bull markets?
This blog post argues that it’s recessions that end the good times for stocks.

Are you financially illiterate?
Take this little quiz and then compare your score to the dismal results of people in countries around the world.

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Carrick on money: Condo living is hell in the sky

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 living is hell in the sky
Maclean’s takes a look at the downside of condo living, including disputes with neighbours and incompetent boards.

Is it time to cash out of the housing market?
Question to housing bear Garth Turner: Should I cash out of my house in today’s hot market in Toronto and rent? Answer from Turner: You bet

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Carrick on money: Seven ways life gets cheaper in 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.

Seven ways life gets cheaper in retirement
The reason why you can live on less money in retirement than while working is that many day-to-day living costs decline. Here are seven examples.

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Carrick on money: Why the hate for home ownership?

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 the hate for home ownership?
In Canada, we debate whether homes are a good investment or not. In the United States, where housing crashed five or so years ago, the debate is on whether housing is a terrible investment. Here, a U.S. financial columnist defends home ownership.

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Carrick on money: The Gen Y guide to a comfortable 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.

The Gen Y guide to a comfortable retirement
All about a new e-book called If You Can: How Millennials Can Get Rich Slowly. The author of this short, right-to-the-point book on saving and investing for retirement is William Bernstein, a U.S. investment adviser.

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Carrick on money: Thirty financial milestones to reach by age 30

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.

Thirty financial milestones to reach by age 30
A comprehensive, tough list, with both realistic and unrealistic points. Example of the latter: Have $25,000 saved for retirement.

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Carrick on money: How to get cheaper houses without a market crash

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 get cheaper houses without a market crash
People want to live in houses in the city, but these homes are increasingly unaffordable for many. Solution: Build tiny houses on lots as small as a parking spot (that’s happened in Tokyo).

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Carrick on money: How to help your teen land a summer job

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 help your teen land a summer job
Five tips for parents, including: Network with everyone you know.

When your parents can’t look after themselves
Options for finding help for aging parents are covered in this video clip from CTV’s The Social.

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Carrick on money: Five things no one knows about 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.

Five things no one knows about retirement
Number One on this list got my attention: Keeping busy is harder than you’d expect.

The stealth threat to the rental market
All about how Airbnb, an online service where people offer rooms in their apartments to tourists seeking a cheaper hotel alternative, is driving up rental costs in some big cities.

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About the writer

Rob Carrick

Rob Carrick has been writing about personal finance, business and economics for close to 20 years. He joined The Globe and Mail in late 1996 as an investment reporter and has been personal finance columnist since November 1998.

Follow Rob on Twitter @rcarrick