Archive for January 2025
49 Best ETFs in Canada – January 2025
Back when I first started writing about personal finance back in 2005, the Best ETFs in Canada ranking was a pretty short list! There was no such thing as a Canadian all-in-one ETF (also called portfolios ETFs) like there are today. While a big part of my portfolio is still in Canadian dividend stocks, Canadian…
Read MoreAlternative Investing in Rare Earth & Technology Metals
While on Million Dollar Journey we generally recommend straightforward investments like Canadian dividend stocks and index investing using Canadian ETFs, there is always some interest in people who want to try their hand and active management. We wrote about investing in gold before, as gold investing positions itself as one of the most popular ways…
Read MoreBest All-in-One ETFs in Canada 2025
Canada’s all-in-one ETFs (also called portfolio ETFs) have been the single most important investment product innovation since I’ve started writing about this stuff nearly two decades ago. The Vanguard, iShares, and BMO all-in-one ETFs are the perfect marriage of index investing strategy, convenience, asset allocation math, and behavioural safeguards. These ETFs – which are actually…
Read MoreIs Robinhood Available in Canada?
When Robinhood burst onto the online discount brokerage scene, its approach to “gamifying” commission-free trading completely reshaped how countless young people viewed the stock market. By rolling out zero-commission trades and an ultra-slick mobile app, it attracted a wave of first-time investors. However, since going public – and especially following the 2023 release of the…
Read MoreBest Low Risk Investments in Canada Right Now (January 2025)
With so many threats to our economy in 2025 many Canadian investors are looking for low risk investments. Personally, I recommend that if you plan on using your cash within the next five years, it’s worth sticking to investments covered by the Canadian Deposit Insurance Corporation (CDIC). High-interest savings accounts and GICs (Guaranteed Investment Certificates)…
Read MoreBest Short Term Investments in Canada Right Now (January 2025)
Over the past year the best short term investments in Canada have changed from short-term GICs to some of the new high interest savings account options. In the early part of 2025, it looks like the EQ Everyday Banking rate is the best combination of a risk-free 3.5% return, combined with full liquidity and instant…
Read MoreWealth Management Companies in Canada 2025
When I first wrote about the best financial advisors in Canada it got some attention from Canada’s wealth management companies due to the news and social media attention it received. If you’re not sure what exactly the difference is between a wealth management firm and a financial planning company – don’t worry – there isn’t…
Read MoreBest Stock Trading Apps in Canada
As a DIY investor, it has been quite rewarding to watch Canada’s best stock trading apps transform over the last nineteen years. When I first kicked off Million Dollar Journey, the trading app options were limited and often quite clunky – nearly all were controlled by the big banks. If you wanted to buy or…
Read MoreBest Financial Advisors in Canada
When looking for the best financial advisors in Canada (or best financial planners in Canada) you’re going to run into a lot of slick salespeople who are really good at using confusing language and scaring you into the financial products that pay them best. Canada’s mutual funds and insurance products are amongst the most expensive…
Read MoreMaxed out RRSP and TFSA – Now What?
I recently received an email from a reader with a bright financial future. They have a maxed out TFSA and has recently maxed out her RRSP as well. Here’s a snippet of the email below (edited for brevity). First of all, thank you for sharing your wisdom and financial journey. I love reading your blog and…
Read MoreInvesting in Canadian Bank Stocks 2025
Last year (2024) was a very solid year for Canadian bank stocks. Most of us invest in bank stocks for peace of mind, solid dividend increases, and overall stability characteristics. But it’s always nice when you can add a 26% capital gain on top of that as well! Looking ahead, there are several good reasons…
Read MoreBest Canadian Dividend ETFs for 2025 (And Why We Prefer Dividend Stocks)
Because I’ve been writing about dividend investing for nearly two decades now, I get a lot of inquiries every month about the best Canadian dividend ETFs vs the best dividend stocks in Canada. Obviously Canadians love their tax-efficient dividend income. The consistency of having those dividend payouts hit their accounts allows investors to better control their…
Read MoreUltimate Smith Manoeuvre Guide For Canadians
When I first wrote about the Smith Manoeuvre (18 years ago!) – a method to transform your mortgage into a tax-deductible loan – I never imagined it would become one of our most popular topics, racking up hundreds of comments. Even though I kicked off my own Smith Manoeuvre at practically the worst time in…
Read MoreWealthsimple Review 2025
What is Wealthsimple? Wealthsimple was founded back in 2014 by Michael Katchen, Brett Huneycutt and Rudy Adler. I gotta say that I really liked the company more in its first few years than in its current iteration. For the first five years of its existence, Wealthsimple was solely focused on the product that is now…
Read MoreEQ Bank Review 2025
EQ Bank Account Options and Interest Rates Account Type Interest Rate Best For Daily High Interest Account 1.75%* (Plus 1.75% if you direct deposit your pay) People who want the highest consistent interest rate in Canada + free e-transfers + super cheap international money conversion + FREE BANKING + USD Accounts for Canadians EQ GICs…
Read MoreWealthsimple Trade Review 2025
What is Wealthsimple Self-Directed Investing (Formerly Wealthsimple Trade)? Wealthsimple self-directed investing is an online brokerage that lets you buy individual stocks and other assets. It’s part of the Wealthsimple ecosystem – a financial company (primarily owned by the massive Quebec-based conglomerate Power Corp) that has 2.6 million customers and oversees $50 billion+ in assets. Wealthsimple…
Read MoreBest Canadian Robo Advisors 2025
Canada’s best robo advisors are proof that in 2025, there is tremendous value in realizing simplicity beats complexity when it comes to investing. With so many Canadians either paying ultra-high mutual fund fees – or (even worse) failing to invest at all because it just seems so complex – there is real hunger for an…
Read MoreWorking After Retirement in Canada
More and more Canadians are now working after retirement in some capacity. The idea of the traditional final office party, gold watch, and chair on the beach appears to be less and less fulfilling than many had hoped. That doesn’t mean a lot of us want to work the same job OR the same hours…
Read MoreDogs of the TSX Dividend Stock Picks
The “Dogs of the TSX” dividend investing strategy for Canadian stocks has been a focus of mine for the past 13 years. I don’t follow the “Dogs” strategy with 100% of my portfolio, but it is a key factor when I look at my relative weighting of Canadian stocks at the end of each year.…
Read MoreCanadian Dividend Kings & Aristocrats – January 2025
Investing in Canadian Dividend Kings (sometimes known as Dividend Aristocrats) tends to come back into fashion when bond yields and GIC rates start to go down. With safer assets generating so little income, dependable dividend payers begin to look more and more attractive. So it’s no surprise that these solid blue chip stocks outperformed the…
Read MoreBest Canadian Dividend Stocks – January 2025
Picking the best Canadian Dividend Stocks for 2025 isn’t an easy task! After such a stellar year in North American equities in 2025, there is much more room to move down than up. That said, my dividend stocks portfolio is all about long-term cash-flowing companies with large financial moats to protect them. Each month I…
Read MoreLaurentian Bank Review
What is Laurentian Bank? Laurentian Bank is an institution that has been around for over 175 years. Originally called the Montreal City and District Savings Bank, they changed their name in 1987. Laurentian Bank has a large presence in Quebec, with over 60 branches. However, their products are available to all Canadians through online banking.…
Read MoreBest GIC Rates in Canada – January 2025
Is now the time to lock in Canada’s Best GIC Rates? With the Bank of Canada suggesting a potential rate cuts in 2025, and with Trump’s tariffs knocking on the door, the best GIC rates in Canada may be hovering at their peak -which could mean now’s a great time to snag something above 3.3%.…
Read MoreEdward Jones Review (Canada)
After Kyle wrote about the best financial advisors in Canada a couple of weeks ago, we got several emails that asked some version of, “Should I use Edward Jones financial advisors?” or one of the other large financial advisory firms in Canada. Since I have had several friends use their services, and many of their…
Read Moremoomoo Canada Review
What is moomoo Canada? Moomoo is an online brokerage created with the goal of providing a platform for investors of all experience levels to engage with the market. Moomoo is an independent brand of Hong Kong-based FUTU Holdings, which is a NASDAQ Listed global financial institution. While moomoo was founded in Silicon Valley in 2018…
Read MoreWealthsimple Trade vs. TD Direct Investing
The Wealthsimple vs TD Direct Investing often boils down to a simple question: How much do you value price over user experience, full service, and physical location convenience? For a broader view of your brokerage options, you can check out my Best Online Brokers in Canada comparison. Wealthsimple Self Directed Investing (formerly called Wealthsimple Trade)…
Read MoreQuestrade vs BMO InvestorLine – 2025 Comparison
DIY investing in Canada has never been more accessible. With a growing number of brokerage options available, companies are competing for your business by offering perks like RRSP cash back promos, free trades, no minimum account balances, and low fees to attract new clients. In this BMO InvestorLine vs Questrade comparison, we’ll explore how one…
Read MoreQuestrade vs Wealthsimple – Which is Better in 2025?
Many Canadian DIY investors end up at the Wealthsimple vs Questrade comparison after seeing some of the creative advertising these two fintech companies have come up with in the last couple of years. By focusing relentlessly on fees, both Wealthsimple and Questrade have managed to carve away significant market share from the big banks. That…
Read MoreWealthsimple vs BMO in 2025
At first glance, a modern fintech company like Wealthsimple and an established financial giant like BMO couldn’t be more different. Yet, with the new push to index investing over the last decade, both financial institutions have managed wealth platforms that we ranked in my Best Robo Advisors in Canada list. Of course, they also include…
Read MoreThe Best Joint Bank Accounts in Canada
For years, lists of the best joint bank accounts in Canada were dominated by RBC, TD, BMO, and CIBC, with Tangerine – Scotiabank’s digital banking arm – leading the way. But the game has changed! EQ Bank has redefined what a joint account bank account means to the average Canadian! With its unbeatable combination of…
Read MoreQuestrade vs Qtrade in 2025
When I first launched Million Dollar Journey in 2006 and started writing about Canadian online brokers, the Qtrade vs. Questrade rivalry was already heating up. Fast forward nearly two decades, and not only has the rivalry intensified, but these two platforms have also solidified their positions as the leaders of Canada’s brokerage scene (leaving the…
Read MoreBest USD Bank Accounts in Canada 2025
Finding the best USD bank account in Canada can mean saving hundreds of dollars in fees and favourable exchange rates. The costs of cross-border transactions or a holiday down in the US can really add up if you’re not careful. A US Dollar bank account based in Canada can make USD transactions quick and painless,…
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