Archive for February 2021
Insurance and Wills for Canadian Expats
When I talked to several non-resident tax and investment specialists during my Covid quarantine-induced expat research frenzy, the topic that kept coming up as “the most common mistake amongst expats” was insurance. As the least sexy topic in a field of study not known for being particularly sexy, insurance has long been the forgotten dance…
Read MoreInteractive Brokers (IB) Review Canada 2021
Comparing Interactive Brokers to Our #1 Discount Broker: Qtrade Is Interactive Brokers Safe and Secure? It’s Complicated Like other discount brokerages in the Great White North, Interactive Brokers Canada is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). BUT – and this is a massive BUT…
Read MoreSpousal RRSP, What is it? How does it work?
Marriage, in many ways, represents a union of two people as a single unit. But under the Canadian tax system, those two people are still treated as individuals. Each individual is taxed progressively based on his or her own income. The higher income earner pays a higher tax rate than the lower income earner. This…
Read MoreMastering the Smith Manoeuvre and Turning Your Mortgage Into a Tax Deductible Investment Loan
We’ve been writing about the Smith Manoeuvre here at Million Dollar Journey for over a decade now! Since I have personally implemented the Smith Manoeuvre and provided various updates on my tax deductible investment loan + Canadian dividend stocks strategy over the years, we’ve collected quite an assortment of Smith Manoeuvre themed articles. Rather than…
Read MoreBest Canadian Robo Advisors 2021
Before we dive into our Best Canadian Robo Advisor picks for 2021 let’s take a step back to decide if robo advisors are the best fit for you. Looking to get into investing but not sure how to start? Or maybe you are an experienced investor, but are looking for a passive investment strategy that…
Read MoreDividend Kings List – Companies with Annual Dividend Increases for Over 50 Years!
A reader has prompted me to update this post for 2021 (originally posted in 2016). Click here to jump directly to my 2021 picks. Investing in Dividend Kings (aka Dividend Aristocrats) may not be for everyone, but I am a fan. I like the idea of receiving tax efficient payments from long-established companies with a…
Read MoreBest Student Bank Account in Canada
You’re rushing to your 8am lecture with a hastily toasted bagel dangling from your teeth. Your half combed mane flaps through the air as you sprint across campus. You have two assignment deadlines and a few impending midterms on your mind, there is no time to think about your finances. You have tuition to pay,…
Read MoreIndexed Family Education Fund (RESP) Portfolio Update – 2021 Edition
Welcome to the annual Registered Education Saving Plan (RESP) update where I show transparency on our indexed investment strategy to help pay for our children’s future education costs. What is an RESP? At a high level, an RESP is an investment account for future post-secondary students and stands for Registered Education Savings Plan. It can…
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