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Helping Canadians with Personal Finance Since 2006

Archive for January 2011

Net Worth Update January 2011 (+3.61)

Welcome to the Million Dollar Journey January 2011 Net Worth Update – The first update of the year. For those of you new to Million Dollar Journey, a monthly net worth update is typically posted near the end of the month (or beginning of the next) to track the progress of my journey to one…

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An Interview with Derek Foster

As Derek Foster (DF) is pretty well known in the finance space here in Canada, while reviewing his latest book The Idiot Millionaire, I thought it would be a good opportunity to snag an interview with him. My telephone conversation with Mr. Foster was casual, informative and entertaining. It turns out that my financial path…

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The Idiot Millionaire by Derek Foster – Review and Giveaway

Derek Foster is back again with his fifth book – The Idiot Millionaire (link).  This book follows a common theme about investing,with the focus on “idiot proof” stocks rather than exclusively dividend achiever type stocks.  To Mr. Foster, idiot proof stocks are those that have global brand recognition and have a distinct competitive advantage. For…

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Financial Goals for 2011 – What are Yours?

Since starting this blog, I’ve set financial goals every year to help keep me focused. One strategy that has been written a lot about a lot in the blog world is using the SMART goal strategy. SMART is an acronym for: S: Specific M: Measurable A: Attainable/Actionable R: Realistic/Relevant T: Time Based The SMART goal…

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Dollar Cost Averaging (DCA) vs Dollar Value Averaging (DVA)

When investing in stocks, bonds, mutual funds or ETFs, the term “dollar cost averaging” is usually mentioned as the no-frills approach to investing. This post will compare dollar cost averaging to dollar value averaging and discuss their pros and cons. DCA is a relatively simple and practical approach to investing, where we invest a small…

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Opening a Bank Account for a Toddler

As this was the first Christmas that our toddler really understood the concept of “Santa Clause”, the number of gifts under the tree were greater than ever.  Christmas has become magical again in our household.  Along with regular toys,  some family members gave cash as a gift.  What’s better than cash right?  While the amount…

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