Welcome to Million Dollar Journey! If you’re new here, you can learn about me and even follow my financial journey to becoming a millionaire by 35 through my net worth updates. Since hitting the Million Dollar milestone, I’ve been documenting my journey towards financial freedom that you can read about here. If you are just starting your own financial journey, you can start with Financial Freedom 101 located in the navigation bar above. Before you leave, check out my latest articles listed below and don’t forget to subscribe to my updates!

Financial Freedom Update (Q1) 2020 – Bear Market Edition ($59,500 in Dividend Income)!

By FT | April 5, 2020 |
q1 2020 dividend income update

Welcome to the Million Dollar Journey 2020 (Q1) Financial Freedom Update – the Bear Market Edition!  If you would like to follow my latest financial journey, you can get my updates sent directly to your email, via Twitter or Facebook, and/or you can sign up for the monthly Million Dollar Journey Newsletter. For those of you new here, since achieving $1M…

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Low-Cost Countries for Canadians to Retire Early In

By Kyle Prevost | March 29, 2020 |
Low-Cost Countries for Canadians to Retire Early In

**Editor’s Note: With everyone obsessed over the tragedy enveloping our world and/or the stock market gyrations that it is causing, we decided to give readers a bit of a sunny break this week.  If you want to read our personal finance/investing thoughts on the unprecedented current events, please see our thoughts about investing in the…

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A Serious Look at Canadian Finance and Investing AC (After Covid)

By Kyle Prevost | March 19, 2020 |
A Serious Look at Canadian Finance and Investing AC (After Covid)

Nearly 500 people died in Spain yesterday. Humour and money are not the most important topics at the moment. People using war analogies to describe the fight against this nasty bug don’t seem to be exaggerating when you see numbers like that. My attempt to distract people with gallows humour in our Covid-19 article last…

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Coronavirus (Covid-19): Sell It All

By Kyle Prevost | March 13, 2020 |
Coronavirus (Covid-19) Sell It All

Just Do It. You know you’ll feel better after you scratch that itch… SELL IT ALL! Who knows where this will end?  Your brother-in-law who took a biology class twenty years ago said that we might all go to the great tax haven in the sky – so it must be true! We could wake…

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Withdrawing from your RRSP, TFSA, and Non-Registered Accounts for Retired Canadians

By Kyle Prevost | March 1, 2020 |

After writing a deep dive article on whether the 4% safe withdrawal rate still works for retirement at various ages, I received a lot of questions basically asking: “Ok, so 4% is a good rule of thumb, but when I actually go to withdraw money from my various investment accounts, to put into my chequing…

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Motusbank Canada Review 2020: High Interest Savings Accounts, Online Personal Loans, and Mortgages

By Kyle Prevost | February 23, 2020 |
Motusbank Canada Review

With more and more Canadians moving to online banks to take care of their daily financial needs, it wasn’t a surprise to us when a new competitor popped up to challenge EQ Bank and Tangerine.  Motusbank enters 2020 with its eye on competing for Canadians’ dollars when it comes to their Motusbank mortgages, GICs, and…

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How Much TFSA Contribution Room Do I Have In 2020 and What Are the TFSA Rules and Limits?

By FT | February 16, 2020 |
How Much TFSA Contribution Room Do I Have

If you turned 18 on or before 2009, you have a ton of TFSA contribution room that you can use at any time.  Our table below gives you a quick look at the annual TFSA contribution room that would have accumulated over the years for you.  Knowing how much you can put in your TFSA…

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Will a Mini-Split Heat Pump Save You Money? Our Results After the first Year!

By FT | February 9, 2020 |

In late 2018, we installed a mini-split heat pump for the purpose of reducing our electricity bill.  Around here in the most easterly parts of Canada, most of the houses use electric baseboard heating as the primary source of heating.  While baseboard heating is a lower cost option during installation, the operating costs can rack…

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