October 2013 - Million Dollar Journey

Rob Carrick of the Globe and Mail recently wrote an article that really struck a chord on the real cost of owning a car. For a lot of families, owning a car is a necessity right there with food, clothing, and shelter. I’m proud to say I’ve lived car-free my entire life, instead relying on…

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Welcome to the Million Dollar Journey October 2013 Net Worth Update. 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 million in net worth, hopefully by the…

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We hear about natural disasters such as hurricanes and cyclones in different parts of the world that made me wonder about my personal emergency preparedness in the face of a snowstorm leaving me home bound for a few days or stranded in the middle of nowhere. Disaster readiness need not be a preparation for every…

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After the popularity of the 34 year old Millionaire article, I started to think a little more about early retirement, and how much someone would have to save to achieve financial independence at an early age. With that, I updated an article that I originally wrote in 2009 about the relationship between after tax savings…

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Preferred shares are an odd asset class. They aren’t quite equities, and they aren’t quite bonds. They are similar to equities in that they pay a dividend, and Canadian preferred shares are eligible for the dividend tax credit. Preferred shares are also traded on the stock market and while they are not as volatile as…

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Two previous posts had looked at the alternatives to bankruptcy and the process of filing for bankruptcy in Canada. If an individual is forced to file for bankruptcy due to an irreparable financial situation, it is important to understand the implications that the bankruptcy would have on their future. Here are five ways that filing…

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Since I wrote a post about the American Express Black card, I’ve had my eye out for super premium credit cards. It’s not that I would ever sign up (or even qualify) for one of these cards, but it’s my curiosity as to how some companies cater to the rich. The premium card that I…

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I asked regular reader Philip to share his story of how he grew his net worth to over $1M before the age of 35. Enjoy! I was recently with a group of good friends out for a charity golf tournament, enjoying a nice day on the links instead of being at work. As usual, I…