Rob Carrick
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Personal Finance Columnist for The Globe and Mail
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Articles by Rob Carrick
What personal finance columnist Rob Carrick has learned after a year of retirement
Open this photo in gallery: Rob Carrick retired from his role as personal finance columnist for The Globe and Mail in 2025.Supplied On Oct. 6, personal finance columnist Rob Carrick answered reader questions about what he’s learned in retirement and how retirees and other Canadians can more effectively save money. For almost three decades, Carrick has been writing about everything you need to know about managing your money in Canada.
ICYMI: My retirement planning spreadsheet and four other bonuses for readers
I started this Substack just over a year ago with the goal of having a running conversation with readers about what grabs my attention as a 30-year personal finance guy. I’ve talked about how the stock market has me shaking my head, while the bond market has me worried about a long stretch of elevated interest rates ahead. The housing market’s tentative recovery hangs in the balance if mortgage rates head much higher. I’m kinda retired, so I’m writing a lot about retirement issues as well.
The ‘Bye, America’ plan: Land a punch in the trade war and save a buck
There’s rightfully a lot of talk about how the counter-tariffs Canada slapped on $28-billion in U.S. imports will make life more expensive. But you can opt out. Where possible, adopt a Bye, America strategy in your household spending. By replacing U.S. products with Canadian or international alternatives you avoid the inflationary hit from counter-tariffs. You also send a message that there are consequences to President Donald Trump’s ranting about not needing anything from Canada.
Bourbon is dead to me: What I enjoy instead
I started taking an interest in bourbon at a get-together to celebrate my 40th birthday, which is to say 23 years ago. My friend Larry ordered a Jack Daniel’s, and I said I’d have one too. I realize that JD is not really bourbon - it’s technically a Tennessee whiskey. But it did serve as a gateway into the world of bourbon, which Larry and I, plus our spouses, visited in person many years ago.
Travel notes: Hotel hell and what to do about rental car insurance in Costa Rica
My wife and I plan to visit Costa Rica this winter — not Florida, Arizona or Hawaii. In a perfect world, we’d be visiting Hawaii for the second time. We loved our first go-round because of the weather, laid back vibe, natural beauty and hiking, the Asian-influenced food scene and more. But now? Forget it. Not until there’s a change of management down south. This brings us to Costa Rica, and a question I have for readers of this Substack. We plan to rent a vehicle in Costa Rica for a week or so.
Six must-do money and care tips for people with aging parents
My biggest retirement shocker without doubt is how much time and effort has gone into helping aged family members with care and finances. I’ve been learning on the fly and reporting back to paying subscribers of this Substack. If you missed my financial checklist for people with aging parents, you’ll find a link at the bottom of this post. Now for a sequel to that list - six more steps to take if you’re helping aged parents or relatives manage their day-to-day finances and health care.
Mr. Carney, can you share your plans for government spending, taxing and cutting?
The U.S. dairy industry wants more access to the Canadian market. Here’s why, explained in five charts Canada’s supply management system for dairy is a flashpoint in the contentious free trade agreement between Canada, the U.S. and Mexico, with Washington consistently demanding more access to what it considers an unfairly protected Canadian market. The White House’s demands are clear. The Trump …
The ETF elite: Top funds for smart investors
I’ve been writing enthusiastically about exchange-traded funds since there were exactly two listed on the Toronto Stock Exchange. I was surprised to note recently there are now more than 2,000 TSX-listed ETFs. The rise of ETFs as a go-to choice for both individual investors and many advisors is one of the most positive investing developments of the past three decades.
I tried six different high interest savings accounts - here are my thoughts
As a 30-year personal finance guy, I have accumulated a lot of accounts at alternative banks for personal use and professional curiosity. Now for some comments on each account in my collection. Deposits at each institution listed here are covered by deposit insurance, either Canada Deposit Insurance Corp. or the Financial Services Regulatory Authority of Ontario, which protects credit union deposits. I recently opened a savings account here, just for the competitive interest rate.
A financial checklist for people with aging parents
Between my wife and I, we have three parents aged 85 to 97 who need help with their care and finances. In this post, I want to share some of the things I’ve learned — sometimes the hard way — about how to prepare for a period of life that is oddly ignored in personal finance. I refer here to what I call “the care years,” where you assist or take over the finances and health care arrangements for elderly parents.
Why this retiree said no to buying health insurance
My entire full-time work life was spent at employers who had benefits plans and I was wide open to buying similar coverage when I retired. After careful consideration of policies from five or so providers, I made a choice. Self-insurance rather than buying coverage from an insurance company for prescriptions, dental and professional services like massage, chiropractor and physiotherapy. Self-insurance means setting up a fund to cover health-related costs.
I tried this new way to pay for travel costs and I'm never going back
Every vacation my wife and I take is experiment on how best to pay for the cost of hotels, meals, attractions and more. Our recent trip to Mexico City, or CDMX as it’s referred to in Mexico, led to a revelation on paying for things while outside Canada. Try a prepaid card - it’s a win on three counts.
Cash is king - here's where I'm keeping mine
Almost nothing in my 35 years of writing about business, economics, investing and personal finance has hurt more people than the inflationary surge of a few years ago. Now, a sequel looms. In no way am I forecasting a return to the 8.1 per cent inflation rate of June 2022. But the oil price rise of the past week is already costing us more to gas up a vehicle. A sustained increase will trickle down to many other goods and services we buy, notably food.
I'm gaming a 30 per cent drop for my stocks
War in the Middle East prompted these thoughts on investing right now based on my own portfolio and what I’m hearing and seeing:
Financial planning advice: You know you want it and here's how to get it
No one knows better than me how many questions people have about money My career as a personal finance guy can accurately be described as a 30-year Q and A session with Canadians (and a few Americans) about money. Tens of thousands of questions have flowed my way via e-mail, social media and in-person encounters on the street, in restaurants, gyms, airports and elsewhere. There is unlimited content about personal finance and investing, yet people are starving for information they can trust.
The king of DIY investing, and some pretty great alternatives
Thank the bull for all the good things going on in the world of digital investing. An epic bull market for stocks over the past five years has ignited interest in do-it-yourself investing and led to unprecedented competition among brokers and apps to attract and keep clients. We now have 14 brokers and apps vying for the business of Canadian investors who want to manage their own investments. Part Two of the 2026 Digital Investing Report includes my detailed comments on each of these firms.
Twelve steps to take when you're five years from retirement
A lot of the financial side of retirement planning comes down to two words: Minimize surprises. Stop wondering how your finances might play out in retirement and find answers. Five years before you think you might exit the workforce, start sticking your nose into everything. Your investments, pensions and other sources of income, as well as your debts, your housing situation and the financial needs of parents and kids. Time is your friend when you’re years away from retirement.
Eight trends saying it's the best time ever to be a DIY investor
This is the best year ever for do-it-yourself investing. Forget hot stock markets - they’ll fall. What makes DIY investing so great right now is the pace of improvement in the digital investing world. Whether you trade by app or website, managing a portfolio on your own is quickly getting cheaper and better. I’ve had an eye on DIY investing since the late 1990s and the rise of discount brokers offering trades via clunky websites or telephone.
My 'poor seniors' wake-up call
I retired at age 63 from my full-time gig as Globe and Mail personal finance columnist last year because I could afford to. The people who read my work over the almost 27 years I spent at the Globe tilted toward an affluence that affords them a comfortable retirement. Most of the retired people I know are financially secure. Last week, in a one-hour appearance on CBC Radio’s Ontario Today call-in show, I was reminded that some retirees are not as fortunate.
Can a politician make your life more affordable?
The path to a more affordable cost of living runs through the seventh most expensive city in the world.* That would be New York. Zohran Mamdani won a resounding victory in the city’s recent mayoral election by promising to make life more affordable. His platform included a rent freeze, building more affordable housing, free daycare for young kids, no-fare bus service and, maybe, city-run grocery stores.
Want a better cellphone deal? Here's what you need to do
A two-word phrase for someone who is considered invisible and irrelevant: Existing customer. New customers get deals, promotions, offers, toys and freebies from companies in sectors like telecom and banking. Existing customers get taken for granted, a lesson I learned when I left my full-time job as Globe and Mail personal finance columnist last year and asked to convert my work-provided cellphone into an account under my name.
Ten good things that happened in personal finance in 2025. Yes, that many
Interact with The Globe Health & wellness newsletter Be well Keep up to date on the latest nutrition news and dietary advice, fitness tips and wellness trends Wealth Leadership Forum 2026 Jun. 8, 2026 | Join The Globe's Pablo Fuchs for a dynamic event empowering advisors to drive long-term growth and thrive in today’s fast-changing financial landscape.
Rob Carrick's Substack
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I'm sharing my personal retirement spreadsheet
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A financial resilience test for 2026 and beyond: Can you afford a surprise $1,000 expense?
Today’s financial headlines are like a mallet beating you over the head to put some cash away for emergencies. A fresh thought on setting up your emergency fund: Ask yourself how you’d afford a $1,000 expense. The need to prepare for the $1,000 expense was presented by a retired reader, Bob Patrick of London, Ont. I’m sharing it with you because it resonated immediately with me as a recent retiree from full-time work.
Rob Carrick's Substack
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The $3K pay bump no one's talking about
I’ve covered decades of federal budgets and the total time I’ve spent reading the actual speeches from the finance minister add up to maybe 30 minutes. This year’s budget speech by Finance Minister François-Philippe Champagne was different from the usual slush — by exactly one paragraph. You may have missed it, though. In fact, I only saw one reference to this point in media and financial industry coverage of the budget.
Carney says Canadians must make sacrifices - here are a few ways he could go
Nov. 4 is the day we find out what sacrifices the federal government will require from us to strengthen the Canadian economy. The sacrifice theme comes straight from Prime Minister Mark Carney - he recently used the word in a speech to University of Ottawa students about next week’s federal budget. Rightly, media reports led with that phrasing by the PM. Carney provided no specifics - that’s what the budget is for.
A(Wealth)simple playbook for competing with the big banks
The financial innovation machine known as Wealthsimple is at it again. Wealthsimple just announced a long list of investing-specific new products and services, a follow-on to some favourably reviewed (by me) banking innovations released mid-year. There are hits and misses in the latest round of innovations, but that’s beside the point. By flooding the zone with new products and services, Wealthsimple is writing the book on how to challenge the big banks for financial supremacy in Canada.
A fantastic, affordable vacation lies north of you
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A dozen thoughts on investing based on 30 years of experience
One of my September rituals is travelling to Toronto from my home in Ottawa for the MoneyShow, an annual convention for investing enthusiasts. I enjoy the MoneyShow because it’s a chance to meet longtime readers face to face and hear what’s on their mind. I think about these conversations when I write about investing. I ask myself, will they find what I’m writing clear, useful and reassuring?
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