The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

Carrick Best Reads

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

Entry archive:

Carrick best reads: Stop overspending on home renovations

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 over-spending on home renovations
Spending too much on renos is one of the four top financial mistakes that homeowners make, according to this blog post.

Cash back beats travel rewards
That’s a blogger’s take on the best reward credit card to have.

More »

Carrick best reads: Ten ways recent grads waste 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 recent grads waste money
A useful list for young adults who graduated from college or university in the past month or so.

War of the worlds
A portfolio manager looks at two exchange-traded funds that help investors get exposure to stocks outside Canada.

More »

Carrick best reads: This simple financial quiz stumped the masses

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 simple financial quiz stumped the masses
Here’s a simple three-question finance quiz. Take it and then see how you compare to the Americans, Russians, Germans and other nationalities who took it.

More »

Carrick best reads: Prepare for higher mortgage rates

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.

Prepare for higher mortgage rates
Veteran economist Sherry Cooper looks at whether mortgage rates could rise as a result of recent events in the bond market. Bond yields play a big role in determining mortgage rates.

More »

Carrick best reads: I’m perfectly happy renting

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’m perfectly happy renting
A blogger’s preference for renting instead of buying is outlined here.

Living on $1,500 a month
The plan for this blogger is to save at least 50 per cent of take-home pay. That means living on $1,500 (U.S.) a month.

More »

Carrick best reads: Young people should own stocks, not 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.

Young people should own stocks, not a house
Investment industry veteran Joe Canavan offers this advice to millennials: Rent and invest now, then buy a house later in life.

More »

Carrick best reads: How investing beats paying down the mortgage

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 investing beats paying down the mortgage
A blogger writes a rebuttal to a recent Carrick Best Reads item that made a case for paying off a mortgage instead of investing.

More »

Carrick best reads: Turning the family home into a rental property

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.

Turning the family home into a rental property
A look at whether it makes sense to rent out the family home when it’s time to downsize instead of selling it. The benefit is that you have a source of investment income.

More »

Carrick best reads: Financial fraudsters love middle-aged men

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 fraudsters love middle-aged men
A new report from the International Organization of Securities Commissions finds that most fraud victims are “overconfident educated middle-aged males.”

More »

Carrick best reads: Four things to know about retiring abroad

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 things to know about retiring abroad
An American who spends his retirement travelling around the world lists four things he wishes he’d known before he got started.

More »

Carrick on money: This common retirement assumption is flat wrong

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 common retirement assumption is flat wrong
The Carrick Best Reads blog has carried several items recently that call into question the idea that people will be able to work longer to cover a retirement saving shortfall. Here are details of a U.S. survey showing that half of retirees reported leaving the workforce unexpectedly.

More »

Carrick best reads: He’s a victim of his family’s wealth

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.

He’s a victim of his family’s wealth
The term affluenza was coined by a psychologist to describe the background of a 16-year-old from a well-to-do family who was involved in a hideous car accident that left four people dead. The psychologist said the young man had grown up without repercussions for bad behavior.

More »

Carrick best reads: I secretly lived in my office for 500 days

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 secretly lived in my office for 500 days
Unable to pay rent in Los Angeles, this man lived in his office. He prefers the phrase home-free to homeless.

The great TFSA debate
A blogger summarizes the arguments in favour of and against raising the annual contribution limit on the tax-free savings account to $10,000 from $5,500.

More »

Carrick best reads: How to make flying a little less disgusting

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 make flying a little less disgusting
Tickets prices are heading north and the experience of flying is heading south. Here are some great suggestions on how to make the experience better.

More »

Carrick best reads: It’s time to scrap the seniors’ discount

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 time to scrap the seniors’ discount
Cut rate movie tickets are fine – the problem discussed here is giving seniors a break on property tax and bus pass discounts.

More »

Carrick best reads: Why paying off a mortgage beats investing

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 paying off a mortgage beats investing
A blogger explains how he paid off his mortgage, and why he thinks it was a better use of his money than investing.

The case for paying down debt ahead of investing is also made here. The rationale: Debt repayment is a guaranteed return on your money.

More »

Carrick best reads: Five ways renters are smarter than owners

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 ways renters are smarter than owners
This list won’t likely convince hardcore believers in home ownership, but it’s a fun read.

Ten financial tips for newlyweds
A newly married blogger offers his take on how spouses can get their finances in order.

More »

Carrick best reads: Don’t get attached to the new TFSA limit

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 get attached to the new TFSA limit
This article notes that Liberal leader Justin Trudeau says he would roll the TFSA contribution limit back to $5,500 if he wins the next federal election, expected this fall. It’s quite unlikely the move would be retroactive, so this year’s use of the current $10,000 limit should be fine.

More »

Carrick best reads: The worst retirement plan ever

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 worst retirement plan ever
It’s working longer to make up for a saving shortfall. “Problem is,” this Bloomberg story says, “health and employers don’t always co-operate.”

More »

Carrick best reads: No one understands old but old people

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 one understands old but old people
That’s a quote from an elderly man in this Atlantic article about how much tougher the challenges of aging are for lower-income seniors.

More »

Carrick best reads: Five ways to improve your finances right now

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 ways to improve your finances right now
Some good, practical suggestions here.

The millennial financial fail
A study of young Americans finds a majority are unable to answer three very basic financial questions.

More »

Carrick best reads: The view from student loan hell

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 view from student loan hell
Americans tend to rack up higher student loans than Canadians because of the higher cost of a postsecondary education in the United States. Here’s the story of a 57-year-old woman who owes $152,000 (U.S.) in student debt on loans taken out 20 years ago.

More »

Carrick best reads: The myth of rich men and beautiful women

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 myth of rich men and beautiful women
Similarity and companionship, not money and looks, are what attract people to each other.

Nine money myths destroyed
A blogger gets some personal finance experts to comment on money myths about retirement, saving, insurance and more.

More »

Carrick best reads: If your house is an investment, rent it out

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 houses are an investment
An argument is made here that if you expect your home to be an investment, the smart approach is to rent it out rather than live in it.

More »

Carrick best reads: The three money taboos of the wealthy

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 is talking about money taboo?
An interesting look at why many people with money are so uncomfortable talking about money.

Ace your retirement with this investment
A retirement columnist makes the case for retirees to invest using low-cost exchange-traded funds. He argues that returns from stock and bonds will shrink in the years ahead, and that low-fee investment vehicles will leave investors with more money.

More »

Carrick best reads: The best thing I ever did with my tax refund

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 thing I ever did with my tax refund
Some U.S. personal finance experts share how they spent their tax refunds. One bought a Jeep Wrangler.

What to do if you make a mistake on your tax return
CRA outlines three options here, the easiest of which is to do it online through the My Account website.

More »

Carrick best reads: Ten mistakes people make when booking 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.

Ten mistakes people make when booking flights
Not checking passport expiry dates, misspelling names, adding wrong credit card expiry dates and more.

Gen Y passing on car ownership
A study shows people aged 18 to 34 would rather spend money on tech and recreation.

More »

Carrick best reads: Sorry, not everyone should learn to invest

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.

Sorry, not everyone should learn to invest
A woman named Darlene writes the personal finance columnist at the L.A. Times about learning to invest. His helpful response is critiqued here by financial blogger Felix Salmon, who has some smart things to say to people about getting a handle on their finances.

More »

Carrick best reads: Millennials choosing houses over 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.

Millennials choosing houses over retirement
Very few young adults are maxing out their annual TFSA contributions. Sometimes it’s because they don’t have money to save. But a theory advanced here says it’s also because they’re focused on buying houses and perhaps neglecting retirement saving.

More »

Carrick best reads: The habits of self-made millionaires

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 habits of self-made millionaires
Most of them have three streams of income, including real estate and investment income.

What to study: These businesses are booming
Health care, engineering, software and more.

More »

Carrick best reads: A conservative ETF portfolio for 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.
 

A conservative ETF portfolio for retirees
An analyst at the independent investment research firm Morningstar produced this suggested mix of exchange-traded funds suitable for retirees.

More »

Carrick best reads: The beginner’s guide to home reno costs

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 beginner’s guide to home reno costs
There’s an infographic embedded in this blog post that does a nice job of showing how much it costs to do a variety of home remodeling projects.

More »

Carrick best reads: Five things you should know about TFSA

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 you should know about TFSA
The rules for tax-free savings accounts in situations like divorce, death and leaving Canada. Timely in light of news that the federal government is looking at doubling the TFSA contribution limit in the upcoming federal budget.

More »

Carrick best reads: Buy experiences, not things

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.

Buy experiences, not things
The thinking behind this idea is that money buys more happiness when it’s spent on experiences like travel than it is when used to buy things.

More »

Carrick best reads: Are millennials being talked out of saving?

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 millennials being talked out of saving?
An interesting argument is made here that badmouthing of registered retirement savings plans has deterred young adults from saving. Tax-free savings accounts get more positive word of mouth, but it’s argued here that they’re an imperfect savings vehicle because it’s so easy to withdraw money from them.

More »

Carrick best reads: How we got duped into believing diamonds are special

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.
 

Diamonds are B.S.
This blog post trashes society’s views on the specialness of diamonds. This is a must-read if you’re getting engaged.

Here you’ll find a history of diamonds, including the story of how smart marketing forever linked diamonds and marriage.

More »

Carrick best reads: How baby boomers blew up the stock 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.

How baby boomers blew up the stock market
The argument made here is that boomers reaching their peak earning and investing years have stretched stocks prices.

Why you don’t need to worry about a bond bubble
Bonds have certainly soared in price (that’s why yields are so low – prices and yields move in opposite directions). But this analysis says it’s unlikely that investors will get burned when interest rates start to rise.

More »

Carrick best reads: Why is being in your 20s so expensive?

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 is being in your 20s so expensive?
A blogger argues that your most expensive decade could be your 20s, thanks to student debt, the cost of saving for a housing down payment and more.

More »

Carrick best reads: The semi-retirement myth

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 semi-retirement myth
A reality check for those saying that because we’re living longer and healthier, we’ll be able to work well past the usual retirement age. In fact, a long-term rise in the average retirement age stalled out in 2008. What’s driving the idea that we’ll work longer? Financial desperation.

More »

Carrick best reads: How I was almost sucked into a pyramid scheme

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 I was almost sucked into a pyramid scheme
An investment specialist at a big money management firm writes here about attending a “leadership seminar” that turned out to be pitch to join an “online product marketing program.”

More »

Carrick best reads: He’s retired, she’s not. Here comes trouble

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.

He’s retired, she’s not. Here comes trouble
Men are more prone to depression if they retire before their wives, according to this university study.

This article talks about the importance of planning ahead for retirement in terms of your personal relationships. There’s an example here of a hard-driving businessman who ended up estranged from his daughter.

More »

Carrick best reads: Luxury toilet paper is an actual thing

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.

Luxury toilet paper is an actual thing
Quilted, lotioned, perfumed or ultra-soft, luxury toilet paper’s a hit. Americans spent about $1.4-billion (U.S.) on it last year, demonstrating how easily people can be convinced to spend more on basic household products.

More »

Carrick best reads: Why we hate balanced funds, and you should too

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 we hate balanced funds, and you should too
An independent investment research offers a scathing critique of balanced mutual funds, a very popular category that now accounts for about half of all fund assets.

More »

Carrick best reads: Income splitting is socialism for the wealthy

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

Income splitting is socialism for the wealthy
A former speechwriter for Prime Minister Stephen Harper says here that family income splitting “looks like we're favouring the wealthy, paying lip service to the middle class, and thumbing our noses at the poor.”

More »

Carrick best reads: Canada’s housing market is like Wile E. Coyote

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 housing market is like Wile E. Coyote
Yale University lecturer Vikram Mansharamani writes here about Canada’s “schizophrenic oscillation between housing exuberance and oil-price despair.” He likens housing to Wile E. Coyote running off a cliff with his feet still moving. “He’s suspended in air, and it’s only a matter of time until gravity exerts its force.”

More »

Carrick best reads: How to stop buying junk 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.

How to stop buying junk you don’t need
Useful info on mastering your urge to spend.

I turned the junk in my house into $1,885
A U.K. blogger produces a list of items from around the house that were sold on eBay for £1,000, or $1,885 in Canadian dollars.

More »

Carrick best reads: The cost of weddings has gone crazy

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 cost of weddings has gone crazy
Recent news reports tell us the average cost of a wedding in the United States last year hit $31,213. In Canada, the latest tally estimates a cost of $31,685.

More »

Carrick best reads: Avoid these three costly pension 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.

Avoid these three costly pension mistakes
A guy who worked as a pension analyst for five years blogs about the mistakes he’s seen people make.

A lifetime’s worth of financial advice
This is different – a look at the right financial moves to make through each decade of your life, through to your 70s.

More »

Carrick best reads: Baby boomers have a retirement problem – their 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.

Baby boomers have a retirement problem – their kids
A narrative is emerging that boomer parents are spending too much money on their adult children, thereby endangering their retirement. My question: What’s wrong with the economy that young people need all this help from parents?

More »

Carrick best reads: Check your retirement blind spot – taxes

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.

Check your retirement blind spot – taxes
Savings, investments and retirement plans are all taxed differently. Being unfamiliar with the nuances can cost you thousands, this blog post says.

More »

About the writer