The trade war has financially unnerved the nation. The new prime minster needs to calm things down. How about a post-election address to the country with a plan to protect the financial security of Canadians? The result of a recent Carrick on Money survey suggests this kind of reassurance is badly needed. A total of 1,353 people responded, most of them aged 50 and up. Their top concerns are their retirement savings, the financial future of their children and grandchildren and the cost of living. Many also said they feel a gnawing uncertainty about the future. Where you seen naked anxiety is in the comments people left about their specific worries: “My son-in-law can’t get welding work (employers not hiring).” “Loss of our three children’s jobs.” “Just having so many friends so stressed and financially compromised.” “Dividend cuts that will reduce my monthly income” “Two years from retirement and watching my retirement plan collapse.” “Higher costs for young families already struggling to make ends meet” “Being able to sell our house and downsize.” “An unforeseen economic contagion cascades out of control and leads to a great depression and war.” “Reduction in pensions.” “Worry about my parents’ retirement savings” “Financial future of my children and grandchildren.” “Reduced income due to clients being unable to afford to pay for therapy.” Two-thirds of survey respondents said they have already felt the financial effects of the trade war, most notably through declines in their investments, higher prices and worries about job loss. Almost 60 per cent said they have moderated their discretionary spending already, one-third said they have made changes to their investments and one-quarter have boosted their emergency funds. The job of awaiting the new prime minister was nicely framed in the survey by a participant who said their biggest worry is this: “The ability and resolve of Canadian governments to build a stronger and more productive economy that is less vulnerable to the U.S.” 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 Tip-free in Halifax A restaurant called The Bonfire in Halifax has gone tip-free. Staff are paid a decent hourly wage and offered profit-sharing. No tips are accepted. The million-dollar discount A lovingly detailed story about a beautiful old house in Toronto. The punchline at the end: It’s on sale for about $1-million less than in 2023. About those product and restaurant star ratings All about how people tend to over-estimate the star ratings seen online for just about anything you buy these days. Bagels, the owner’s guide Thoughts on how to keep bagels fresh, and how to revive them if they get stale. Podcast fans Subscribe to Stress Test on Apple podcasts or Spotify. Ask Rob Q: Is there a reason why it is onerous to set up a dividend reinvestment plan (DRIP) for one’s holdings within a discount brokerage account? Most require you to phone in to enroll or to complete a form, submit it, and wait a few days. Why not just a checkbox next to each holding allowing you to easily enroll, check status, and de-enroll? A: This is a great idea, and one that syncs nicely with the advent of fractional-share trading. Fractional shares pay fractional dividends, which can in some cases be reinvested in any amount through a DRIP. What a great way to build wealth slowly and steadily. The question is, who in brokerland will step up with automated DRIPs you can set up yourself? By the way: If you’re interested in fractional shares, they are available from Wealthsimple, Questrade, Interactive Brokers, TD Direct Investing and the TD Easy Trade app. 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 and guides A guide for snowbirds on registration requirements for people spending more than 30 days in the United States. In the social sphere Social media: Do you look at your investment accounts more often in up or down markets? Listen: The Lessons You Can Bank On podcast, with Nicole and Bruce Campbell. Father-daughter thoughts on personal finance. Money-Free Zone: If you need a pick-me-up, you’ll thank me for this one. Vad Hande Med Dem? by The Brian Jonestown Massacre. Psychedelic rock, explained in a single song. What a ride. ICYMI More PF from The Globe – As Chinese-made gadgets face tariff pressure, is now the time to buy a new phone? – Duplicate tax slips, incorrect error codes new snags in troubled tax season – Advice on how to survive a recession, from a survivor of the 2008 financial crisis – Should a digital declutter be part of your retirement plan?