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carrick on money

I asked newsletter readers last week for their thoughts on shrinkflation and, guess what, no one likes it. Virtually everyone said they would rather that companies charge more for products rather than shrinking the size of packaging and keep prices in line.

How much do people dislike shrinkflation? Enough to send me a lot of photographic evidence that I will share below. Presenting the Carrick on Money Gallery of Household Shrinkflation:

In the cereal cupboard:

Open this photo in gallery:

In the fridge:

Open this photo in gallery:

In the pantry:

Open this photo in gallery:

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Rob’s personal finance reading list

A June 2022 saver’s update surveys the latest developments in savings account and GIC rates. Info here on U.S.-dollar savings accounts.

Why everyone should plan for early retirement

A smart take on retirement planning – even if you plan to retire at 65 or later, it’s important to plan what would happen if you retired earlier as a result of health issues or job loss. A U.S.-focused article, but thematically relevant to we Canadians.

Life with an electric vehicle

I liked this article on the process of buying and owning an EV because it’s detailed and balanced. Included is a spreadsheet on the costs of operating the vehicle.

Housing’s long tailwind is reversing

Roughly 40 year of falling interest rates helped power the housing market. Now, rates are moving steadily higher. We are about to see housing demand meet its severest test since the 1980s and 90s.

Ask Rob

Q: My wife and I decided to move and downsize so we leased a condo in a small city near Toronto. We are in our 70s and both have some health problems, but not too serious. We just sold our home and pocketed about $900,000. We already have $400,000 invested in mostly GICs. We both get government pensions and one other small work related pension. What do I do with the $900,000?

A: Suggestion – book a consultation with a fee-for-service financial planner to discuss your current and future income needs and any thoughts you have on helping family members financially. Find out how that $900,000 can help you meet those goals and create a financial cushion for the rest of your life. Some planners can help you invest the money, others can provide some general guidance. But their financial planning services sound like just what you need. Expect to pay a couple of thousand dollars and up.

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

A Q&A for expat investors on dealing with Canadian investment dealers that are members of the Investment Industry Regulatory Organization of Canada. Key point: “There is no IIROC Rule that prevents IIROC-regulated dealers from dealing with clients outside of Canada.”

The Money-Free Zone

I’m enjoying the book 305 Lost Buildings of Canada, which offers profiles and sketches of torn- down heritage buildings in cities across Canada. A co-author of the book is Alex Bozikovic, architecture critic for The Globe and Mail. I read the other day about the Garland Building, which stood next to what is now the office tower housing the Globe’s Ottawa bureau.

Tweet of the week

Personal finance expert Bridget Casey on inflation: “Can’t travel, eat out at restaurants, drive anywhere. We went from pandemic lockdown to inflation lockdown. have a nice life everybody.” Ms. Casey writes a regular column for the Globe and Mail – catch it here.

What I’ve been writing about
  • Why parents should get their own finances in order – before saving for their kids
  • What older parents should know about paying for their child’s wedding
  • Pickup trucks and big SUVs cost us all more. It’s time to make these drivers pay their fair share

Callout alert

Interested in being featured in the Globe’s Financial Facelift feature? E-mail us about your unique financial situation at can share your story under a false name and our photographers will obscure your identity in one of our trademark Financial Facelift photos. We’re especially keen to hear from people without a defined benefit pension plan look for advice on how to navigate their finances for retirement and other financial goals. Here’s a look at a recent profile.

More Rob Carrick and money coverage

Subscribe to Stress Test on Apple podcasts or Spotify. For more money stories, follow me on Instagram and Twitter, and join the discussion on my Facebook page. Millennial readers, join our Gen Y Money Facebook group.

Even more coverage from Rob Carrick:

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