It’s a Carrick on Money tradition to fill the first newsletter of the year with ideas and forecasts to help you plan your finances for the months ahead. To get started, take a look at my column on five economic trends that will help make or break your finances in 2020, including the worsening strain on people carrying a lot of debt.
Here’s a list of personal finance predictions for 2020 that includes rising debt loads. There’s little risk that prediction will prove wrong.
Reader’s Digest compiled this list of money-related new year’s resolutions by consulting financial planners. A well-rounded list that covers charitable giving, defending against identity theft and more.
CNBC money reporter Alicia Adamczyk on how she plans to get her finances in order for 2020. Useful thoughts here on the mental side of money – finding inspiration, setting goals, tracking results, and more.
Bridget Casey of the Money After Graduation blog built this list of things to do make 2020 your best year yet, financially. Ms. Casey is currently my favourite personal finance voice on Twitter.
Planning to declutter in 2020? Here are some thoughts on how to find good homes for all your stuff through donations, consignment and such.
Tax changes you need to know about for 2020, as collected by Jamie Golombek, managing director of tax and estate planning for CIBC Financial Planning and Advice.
A handy list of 2020 tax numbers, including maximum TFSA and RRSP contributions and the threshold where the OAS clawback kicks in.
For investors, here’s the Fortune roundtable of investing experts on what to do in 2020. For a global perspective, try this 2020 lookahead from the Financial Times.
Ten predictions from a Motley Fool columnist about the stock markets and the economy. A bearish tilt to this one.
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Ask Rob
Q: I am looking for a new financial planner/adviser. Is it best to go with a bank or investment firm?
A: It’s best to go someone who suits your needs. Don’t worry about whether they work for a bank, an investment firm or they’re an independent. Consider the kinds of services you want – financial planning, portfolio management etc. – and then consult friends, family, contacts for referrals. You might also find this useful – a list of financial planners across the country who charge flat or hourly fees and don’t sell investing products.
Do you have a question for me? Send it my way. Sorry I can’t answer every one personally. Questions and answers are edited for length and clarity.
Today’s financial tool
All the ins and outs of depositing a cheque by taking a photo of it using your mobile phone or tablet. Never do it using public WiFi.
In case you missed these Globe and Mail personal finance-related stories
- Eight core strategies for creating financial security in retirement in Canada
- Ben and Barbara need help with retirement plans: ‘A lot of moving pieces and uncertainty’
- Gordon Pape: My five fearless predictions for markets in 2020 (for Globe Unlimited subscribers)
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Rob Carrick