Rob Carrick (Returns): Retirement, the Value of Financial Advice and the Canadian Economy | TWB #48

Our guest this episode is Rob Carrick — longtime personal finance columnist at The Globe and Mail and one of Canada’s most respected voices on money. Rob returns as our first-ever repeat guest after being a fan favourite back in episode #3! For 27 years, Rob helped Canadians make sense of investing, housing, debt and retirement through his widely read column at The Globe. He semi-retired in the spring of 2025 and now writes a Substack newsletter, does public speaking and contributes biweekly columns to The Globe. In this episode, Dave and Rob cover a wide range of timely topics — from Rob’s transition into semi-retirement and how people can successfully navigate retirement themselves, to the growing role of advice-only financial planners and why the quality of financial advice in Canada has improved dramatically. They also dive into broader economic issues affecting Canadians today, including inflation, mortgage renewals, household debt levels, the true cost of home ownership and whether Canadians should be counting on their homes to fund retirement. It’s a thoughtful, wide-ranging conversation with one of Canada’s most experienced personal finance journalists — packed with practical insights and big-picture perspectives on money in Canada today. 💈💈💈 The Wealthy Barber Podcast is Canada’s go-to source for approachable, entertaining, and free financial education. Hosted by none other than David Chilton—former Dragon on CBC’s ”Dragons’ Den” and the best-selling author of ”The Wealthy Barber” and ”The Wealthy Barber Returns”—this podcast is here to help Canadians manage their money better. Much better. Find all episodes and more Canadian personal finance content at https://thewealthybarber.com. 💈💈💈 Rob Carrick's Substack: https://robcarrickpf.substack.com/ Show Notes (00:00) Intro & Disclaimer (00:55) Intro to Rob Carrick (02:18) Rob’s Retirement From The Globe and Mail (04:47) The Power of Reader Feedback (06:39) Rob’s Impact on Readers (08:06) How to Successfully Transition to Retirement (11:05) Finding Purpose in Retirement in Key (13:27) The Rise of Advice-Only Financial Planners (17:25) The Quality of Financial Advisors Has Increased Dramatically (22:55) Why Almost Everyone Needs a Financial Advisor Near Retirement (25:41) Pros and Cons of Advice Only Financial Planners (28:30) The Power of Paying Yourself First (29:17) Should You Ask ChatGPT Your Financial Questions? (33:37) Inflation and Economic Worries (35:02) Does CPI Accurately Reflect Inflation? (36:43) Mortgage Renewals and Financial Strain (37:59) Canada’s Dangerous Debt Levels (39:41) The K-Shaped Economy (41:09) The True Cost of Owning a Home (44:53)  Counting on Your Home for Retirement and the Realities of Downsizing (48:30) The High Costs of Aging in Place (50:09) Conclusion