The Best Joint Bank Accounts in Canada

joint account canada

A joint account is just what it sounds like: a bank account that is opened and managed jointly by more than one person. They’re useful in situations where two or more people need to access and manage money. In our Best Joint Accounts in Canada round-up, we give you details on how joint accounts work,…

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Financial Freedom Update Nov 2021 – Big Dividend Raises Edition

financial update nov 2021

Welcome to the Million Dollar Journey November 2021 Financial Freedom Update – Big Dividend Raises Edition! If you would like to follow my whole financial journey, you can get my updates sent directly to your email, via Twitter and/or Facebook. For those of you new here, since achieving $1M in net worth in June 2014 (age 35), I have shifted my focus to achieving financial…

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Wealthsimple vs. BMO

bmo vs wealthsimple

So, you’ve decided that easy, hands-off index investing using a robo advisor such as Wealthsimple or BMO Smartfolio is the best fit for you. Figuring out which robo-advisor has the exact options you want – at the right price – can seem overwhelming. We put two of the best robo-advisors in Canada, Wealthsimple Invest and…

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The Best Low Cost Ways to Convert CAD to USD

convert cad to usd

Updated November 2021 to provide additional information in regards to converting large amount of CAD to USD using Currency Brokerages/Money Transfer Comparison Back in late 2014, we wrote about how great it was to be holding US Dollars (USD) due to the declining Canadian dollar (CAD).  At the time of that post, it cost $1.13CAD…

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Scotia iTrade Online Brokerage Review

Scotia Itrade Logo

Scotia iTrade launched in 2008, after Scotiabank purchased E*Trade Canada. This was a smart move, immediately bringing in twice as many online customers to its client base. Scotia iTrade made a name for itself in the active day trader community because of its discounted flat rate commissions of CAD $1.25 – $9.99 depending on number…

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Ultimate Options Trading Guide in Canada 2022

Options Trading

As calls and puts have become more popular over the last two years, we’ve been getting more and more emails from Canadians asking if options investing is right for them, and what the best options trading platform in Canada is. Note that if you plan to do more than simply trade options on your DIY…

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Is Robinhood Available in Canada?

Robinhood Logo2

Once a breakout star of the online discount brokerage scene, Robinhood attracted millions of millennials and even Gen Zers to hop on the investment bandwagon for the first time.  Robinhood’s commission free trades, as well as sleek and easy to use interface appealed to first-time investors. It currently has more than 18 million users trading…

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Tangerine Bank Review 2022

Tangerine Logo

It shouldn’t come as a shock that more and more Canadians from all generations are taking the time to look into online banking and high interest savings accounts these days. We’ve gotten over two-dozen emails in the last few weeks asking about our recommendations, as people look for an attractive place to park cash during uncertain…

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You Need a Budget (YNAB) Canada Review

ynab logo

What’s one guaranteed way to kill a party?  Bring up budgeting.  It’s tedious and difficult to maintain and just… it’s a one-way trip to the no fun zone. But it doesn’t have to be that dreadful. Apps like You Need a Budget promise to keep you on track and make budgeting fun-ish. That feels like…

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Best USD Bank Accounts in Canada

usd bank accounts

Cross-border transactions can be complicated and expensive. First, you have to deal with a constantly shifting exchange rate. Then there’s the foreign transaction fees you’ll run into… and don’t get us started on what happens if you’re a dual citizen and have to pay a tax bill! What’s the solution? A US Dollar bank account based in…

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Bond ETFs vs GICs vs High Interest Savings Accounts

fixed income investing

For income-oriented Canadian investors the choice between a Bond (or Bond ETF), a GIC, or a high interest savings account has become more important than ever.   With interest rates at historic lows (for a little while longer anyway) choosing the best option for the “safe, low risk investing” part of our portfolio can make a…

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Wealthsimple vs. RBC

wealthsimple vs rbc comparison

The list of the best Canadian robo-advisors is, well, not short (we have some great ones!) and it can be a challenge to figure out how they differ from one another. Which one has the selection and services you’re looking for?  Which will work best for your specific situation? That’s exactly why we write these…

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Wealthsimple vs. TD Direct 2022

wealthsimple vs td

When you’re deciding where and how to invest your money, research is key. You want to consider all your options and make sure you end up with the solution that works best for you. And that’s where articles like this Wealthsimple vs TD comparison really come in handy. TD is an established bank (one of…

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Common Myths About Stock Market Risk

stock market beliefs

Over the years, we have found that most investors have quite exaggerated views about stock market risks, especially after 2008. While we do always advocate low risk investing here in MDJ, primarily by investing in dividend stocks, we also wanted to touch on the subject again of operating in an exaggerated environment such as the…

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Ways to Maximize the Canada Child Benefit (CCB)

maximize child benefits

After filing my income tax return in mid-April (yes, I tend to procrastinate), I noticed on the bottom of the screen the amount that we will receive for the Canada Child Benefit. While we’ve been receiving this benefit since the Trudeau administration has been in power (2016), what really got me thinking is that we’ll…

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Top No Fee Rewards Credit Cards in Canada

best free rewards cards canada

I’ve written about the top free cash back credit cards in Canada before, and even modified my top pick to be Neo Financial in 2021, which is also the overall best credit card in Canada in my opinion. However, there are an abundance of other rewards based credit cards out there that deserve a look.…

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Wealthsimple vs. Tangerine

tangerine vs wealthsimple comparison

When looking at online banking and investment options in Canada the Wealthsimple vs Tangerine Bank battle quickly rises to the forefront. This is a look at the direct comparison and builds on our Wealthsimple and Tangerine Bank reviews. It’s an interesting comparison to make because it’s not simple robo-advisor vs robo-advisor like our Wealthsimple vs…

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The Best Online Banks in Canada 2022

Big Banks Mutual Funds

If you ever want to know the value of finding the best online bank in Canada, just go through the last two years! Check out our 2022 Best Online Banks In Canada quick compare chart to see who comes out on top, and then read on for a more in-depth explanation of our selection criteria.…

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How To Pay Off Your Mortgage In 3 Years

Mortgage Free

In the October 2010 net worth update, I briefly mentioned that I was planning on paying of the mortgage balance this month and I’m happy to say that we officially became mortgage free in 2010! As this is a significant milestone in any financial journey, I thought that it deserved a post all on its…

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Wealthsimple vs. Justwealth

wealthsimple vs justwealth comparison

After publishing our in-depth Wealthsimple and Justwealth reviews, we wanted to dig a little deeper and give you a full head-to-head Wealthsimple vs Justwealth comparison.  After all, when you’re deciding where to put your hard-earned cash, it helps to have a clear picture! Weathsimple Invest, the largest robo-advisor in Canada, is part of a larger…

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