Skip to main content
carrick on money

If work is a big part of your life, retiring can be like getting reassigned to a new job where you have no skills or experience.

A surprisingly high number of people have trouble with the transition. Recently, I included a link to a post on a retirement blog saying that 28 per cent of retirees are depressed. A 69-year-old reader of this newsletter had some thoughts about adjusting to retirement and got in touch to share them.

You need to have something to look forward to in retirement, Ottawa-based Paul Pagotto wrote in an e-mail. “Simple things like weekly coffee clubs, monthly breakfast clubs and more fun things like a movie, show or sports event.”

Mr. Pagnotto said travel is something that he particularly looks forward to, including the research and planning for each trip. Three more of his thoughts on finding your way in retirement:

  • Spend time with grandchildren: “From talking to friends, that’s a big motivator.”
  • Exercise: “I have enjoyed doing even simple activities like hour-long walks and short hikes through parks and forest areas – connecting with nature.”
  • Imagine retirement before you actually retire: “I have found the pre-planning for retirement to be very helpful,” he wrote. “A transition, working three days a week before retirement, helps.”

Subscribe to Carrick on Money

Are you reading this newsletter on the web or did someone forward the e-mail version to you? If so, you can sign up for Carrick on Money here.

Rob’s personal finance reading list

Shrinkflation is why you’re still hungry

A gallery of grocery items that have shrunk in size. I was surprised at how much less we’re getting – double-digit declines for many items. Now, for a look at yet another distasteful trend in food – skimpflation, or the decline of food quality. Example: A cheese spread that no longer has cheese as its main ingredient.

Thoughts from a lifelong renter

As part of a Toronto Life series where young couples discuss their housing choices, a 34-year-old woman talks about why she’s a committed lifelong renter. Now, for a visit with a Toronto couple living rent-free – and happily – in a van. Finally, some pushback from a renter against landlords with too many rules.

Why travel insurance claims get rejected

Six common reasons why you won’t get reimbursed for a trip cancellation or a health-related claim.

Which is the cheaper ride?

A comparison of three-year ownership costs for EV, hybrid and gas-powered versions of the same vehicle. Prepare to be surprised at how similar these costs are in many cases.

Ask Rob

Q: My children are heavily invested in exchange-traded funds. I am a dividend investor. What are the tax implications when you withdraw comparing the two? Does an ETF that tracks banks give you the same result as holding a mix of back stock?

A: Dividend ETFs typically distribute dividend income to shareholders combined with a small return of capital as well, whereas bank stocks held directly pay strictly dividend income. The resulting tax impact in non-registered accounts should not be major. The management expense ratio for a dividend ETF will reduce its yield by roughly 0.2 to 0.5 of a percentage point. The offsetting benefit of dividend ETFs is diversification. Bank stocks have been hit hard lately, but dividend ETFs are performing well for the most part.

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.

Tools, Explainers, Guides and Charts

An explanation of proposed changes to the Alternative Minimum Tax, applied to people who earn a lot of income via capital gains or claim substantial deductions/credits for things like charitable donations.

The Money-Free Zone

With its horns and dreamy backing vocals, Bob’s Casino might be my favourite song of the summer so far. It’s on the recent album by Grian Chatten, whose day job is lead singer for the excellent post-punk band Fontaines D.C.

Watch this

A TV news report about a woman who bought a $300 gift card at a store and found it had already been redeemed. Here’s a follow-up story about the refund she eventually got, as well as some commentary on how this was not a one-off problem.


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: – H6

Your Globe

Build your personal news feed

Follow the author of this article:

Follow topics related to this article:

Check Following for new articles

Interact with The Globe