Posts by FT
Best High Interest Savings Accounts 2022
High interest savings accounts (HISA) are considered a safe way to keep a stash of cash you are saving for short term use. For example, if you are saving for a down payment on a home, upcoming travel, or even a new computer, having a high interest savings account is a good way to hedge…
Read MoreCanadian Dividend Kings List 2022
Investing in Dividend Kings (aka Dividend Aristocrats) has come back into style again in 2022, after a decade of fast-paced outperformance for technology growth stocks. Click here to jump directly to my 2022 picks. As we head into the fall of 2022, we have seen a small rally amongst some of the tech stars that…
Read MoreBest Canadian Dollar (CAD) ETFs for U.S Equities
A reader recently emailed me about my thoughts on the best US Dollar USD ETFs vs CAD ETFs when it comes to getting portfolio exposure to the American market. You may already know that I’m a fan of index investing using the best ETFs available. Whether that’s all-in-one ETFs, Canadian dividend ETFs, or in this case,…
Read MoreBMO Investorline Review 2022
Is BMO Investorline Safe and Trusted? In a word, YES. As one of Canada’s oldest and most trusted companies (founded in 1817) the Bank of Montreal is as safe, trusted, and legit as you can get. InvestorLine has been around longer than the internet – BMO introduced self-directed trading way back in 1988 before moving…
Read MoreDogs of the TSX Dividend Stock Picks (2022 Update)
Over the past number of years, I’ve been writing about the investing strategy known as Dogs of the TSX (taken from “Dogs of the Dow” in the USA) – also known as the Beating the TSX Dividend Stock Strategy (BTTSX). (Click here to skip directly to my 2022 picks). The principle of this strategy is…
Read MoreBest Real Estate Stocks in Canada 2022
I like the idea of owning real estate – but I don’t want the headaches of being a landlord. If that sounds like you, then you basically have two options: Invest in Canadian Real Estate Investment Trusts (REITs) Or Invest in Canadian real estate stocks. Personally, I’m a massive fan of investing in Canadian bank…
Read MoreQuestrade vs Qtrade in 2022
After several years of Questrade claiming the top spot in our list of best Canadian discount brokers 2022 proved to be the year that Qtrade claimed the crown. You can tell from our full length Qtrade review and Questrade review that we are big fans of both brokerages, and that any honest Qtrade vs Questrade…
Read MoreBest Canadian Online Brokers & Trading Platforms
The 2022 Best Canadian Online Brokerage Rankings are re-analyzed and updated monthly by our editorial team in order to guarantee the freshest information on broker fees, promo offers, and platform updates. Finding the best Canadian Trading platforms to DIY invest with has been a main focus of MDJ since I started the site back in…
Read MoreBest Canadian Dividend Stocks – September 2022 Update
As we update our list of the Best Canadian Dividend Stocks for July 2022, we continue to focus on four key areas: Dividend Yield Dividend Growth Consistency Earnings Per Share Overall Company Revenues As we head into Q3, Canadian dividend stocks have continued to reward our confidence in them. While high-flying tech stocks have gotten slaughtered…
Read MoreQtrade Guided Portfolios Review
What is Qtrade Guided Portfolios? (Formerly VirtualWealth) Qtrade Guided Portfolios is the new robo advisor put out by our #1 rated online brokerage company. Much like other robo advisors, the Qtrade Guided Portfolios mission is to: Use index investing (aka: passive investing) to help Canadians invest smarter. Make it as easy as possible to get…
Read MoreQuestrade Review 2022 [$50 Promo Offer Code]
Is Questrade Safe & Secure? One of the most common questions that I have gotten in the comments below is: Is investing my money through a Questrade online brokerage account safe? Is Questrade as safe as RBC, TD, CIBC, ScotiaBank, and BMO? – MDJ reader The answer: Yes! Here’s the deal. Off the top Questrade is…
Read MoreBest Cannabis Stocks in Canada
In October of 2018, Canada became the first North American country to completely legalize marijuana, opening the doors for the cannabis industry to expand into new territory, and for Canadian cannabis stocks to begin trading on the TSX. While in the US, weed isn’t Federally legal, the majority of states allow the purchase of marijuana…
Read MoreInvesting in Canadian Bank Stocks – September 2022 Update
Does investing in Canadian bank stocks for 2022 make sense? Given the less-than-stellar results during the second quarter, resulting in a 10% drop so far this year, investing in Canadian banks isn’t quite as popular a trend as it was last year. That said – for those of us in the nest egg-building stage of…
Read MoreBest Tech Stocks in Canada
While Canadian technology stocks have been some of the fastest growing stocks on the Toronto Stock Exchange over the last decade (especially during the pandemic), they are still a relatively small part of our investing ecosystem. We have a lot of great Canadian dividend stocks, Canadian bank stocks, Canadian energy stocks, etc. But when it…
Read MoreScotia iTrade Online Brokerage Review
What is Scotia iTrade? Scotia iTrade launched in 2008, after Scotiabank acquired E*Trade Canada and immediately rebranded it. This purchase was a smart move, effectively doubling the Scotiabank online client base overnight. Scotia iTrade made a name for itself in the active day trader community because of its discounted flat rate commissions for active traders.…
Read MoreBest All-in-One ETFs in Canada 2022
In the past few years, the ever so simple passive investment strategy of choosing from a wide range of ETFs that reflects your investment style has become even easier. A new breed of ETFs, often referred to as ETF portfolios, or all-in-one ETFs, allow investors an easy way to invest, just the way they like…
Read MoreBest Emerging Market ETFs to Buy in Canada
I have to admit that due to my focus on Canadian dividend stocks, I am guilty of having a bit of an overall home country bias in my portfolio. I’m fine with that, as I really like Canada’s current valuations and long-term prospects. That said, when I want quick diversification, I tend to look for an…
Read MoreBest Pipeline Dividend Stocks In Canada
It’s no secret that we’re big fans of Canadian dividend stocks here at MDJ, and while we have given some shine to Canadian energy stocks over the last couple of years, we have always just sort of tossed the Canadian pipeline stocks in alongside those big energy producers. The fact is the Canadian pipeline stocks…
Read MoreNational Bank Direct Brokerage Review
NBDB has made changes over the last two years to make their fee structure competitive among other discount brokers, and have now dropped their commission fees altogether for those trading on their online platform. It seems as though they have taken customer feedback to heart and made improvements to make those customers want to stay…
Read MoreFinancial Freedom Update June 2022 – Q2 Update ($70.5k in Dividend Income!)
Welcome to the Million Dollar Journey June 2022 Financial Freedom Update – the second update of the year! 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…
Read MoreTD Direct Investing Review 2022
The TD Direct Investing online discount brokerage is amongst the most popular of Canada’s online discount brokerages. TD has consistently been on the forefront over the last decade as investors have moved away from expensive “full service brokers”, to the much cheaper discount broker model that we see today. As one of Canada’s largest companies…
Read MoreThe Best Industrial Stocks in Canada
With the market shifting to defensive mode, Canadian industrial stocks are back in style. Investors are clearly in the mood for solid (boring?) dependable earnings that can keep up with an inflation-heavy environment. While Canadian railroad stocks and Canadian airline stocks are technically considered Canadian industrial stocks, we decided that they needed their own articles. While…
Read MoreInvesting in Canadian Airline Stocks 2022
Now that travel has opened up again, many MDJ readers have been asking us if now is the time to invest in Canadian Airline stocks. Truthfully, we might be the wrong folks to ask about this one. If you take a look at our best Canadian dividend stocks and/or Canadian Dividend Kings articles, you won’t…
Read MoreBest Canadian Chequing Account 2022
Most of us have memories of our parents or grandparents whipping out their chequebooks at the store or at the kitchen table when it was time to pay bills. While we may not need to spend hours a month writing out cheques and balancing our chequebooks, we still need quick access to cash for daily…
Read MoreTop 6 Indexing Options for Your Portfolio
If you’ve started your research on investing, but still aren’t quite sure how or where to get started, you are not alone. Plenty of almost-investors get stuck at the starting line for reasons like not feeling educated enough, feeling like they don’t have enough money to start investing, or simply feeling unclear on which type…
Read MoreHow to Build a Dividend Growth Portfolio
If you’ve been following MDJ for a while, you will come to learn that I’m a fan of two investing strategies, index investing (buying the broad market with low fee ETFs/mutual funds) and income producing dividend growth investing. I like index investing for its ease, low cost, and ability to beat most active mutual fund…
Read MoreBest Utility Stocks in Canada 2022
There is a reason why so many of Canada’s best utility stocks are also on our overall list of best dividend stocks in Canada: They are natural oligopolies/monopolies, meaning that can pass along increasing costs almost instantly, and have really solid yields for income-seeking investors. This combination makes them a natural fit for Canadian investors…
Read MoreBest Renewable Energy Stocks in Canada
With all of the attention on Canadian energy stocks due to the recent run up in oil prices, many experts are arguing that now is the time to look into Canadian renewable or “green energy” stocks. If you are a longtime MDJ reader, you’ll notice a few crossover companies from our best Canadian dividend stocks…
Read MoreWealthsimple Review (2022 Update)
* A Wealthsimple Promo Offer Coupon for You Wealthsimple has provided me with a promotion code for our readers – providing a $50 cash bonus on a $500 min. deposit. This means you don’t pay any management fees for 12 full months as you test the platform out! Try this top Canadian robo advisor. To…
Read MoreInvesting In Gold In Canada
As one might expect in a market pullback (and geopolitical crisis) we’re getting many requests about how to invest in gold in Canada, as well as how to invest in commodities (which we covered not so long ago). The awkward truth is that while this should be gold’s time to shine (see what I did…
Read MoreBest High Yield Canadian Stocks 2022
Given that our best Canadian dividend stocks list is consistently the most popular article on our site, I guess we shouldn’t be surprised at the number of questions we get that go something along the lines of: “Why do you guys like Canadian National Railway so much, there is barely any dividend yield there. Why…
Read MoreFinancial Freedom Update March 2022 – First Update of the Year ($68,100 in Dividend Income!)
Welcome to the Million Dollar Journey March 2022 Financial Freedom Update – the first update of the year! 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…
Read MoreThe Best Canadian Dividend ETFs
This post was originally written in 2015 but I have updated it in April of 2021 due to recent questions about the top Canadian dividend ETFs available. Check out the new entrants below. Dividend investing has been a part of my portfolio strategy since I started MDJ and has become a major part of my…
Read MoreUltimate Smith Manoeuvre Guide Canada
Canada’s Smith Manoeuvre and how to turn your mortgage into a tax deductible loan (like an American mortgage!) was one the first topics that I ever wrote about here on Million Dollar Journey back in 2007! My Smith Manoeuvre portfolio is still going strong, and I don’t anticipate making changes any time soon. Indeed, with interest…
Read More45 Best ETFs in Canada For 2022
I’ve been writing about the best ETFs in Canada since 2006, including my favourite Canadian Dividend ETFs, and more recently the best Canadian all-in-one ETFs (sometimes called Portfolio ETFs). With ETFs getting more and more popular – and attracting more competition – we often get comments and emails asking us for a one-stop shop Ultimate…
Read MoreIndexed Family Education Fund (RESP) Portfolio Update – 2022 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. Since we’ve been posting about these accounts since my kids were born (my oldest was born in 2008), it shows the power of long-term compounding of a…
Read MoreThe RESP Strategy
An RESP, or Registered Education Savings Plan, is a tax-deferred investment account designed to help pay for a child’s education. RESPs are eligible for government grants (re: Free Money) of up to $7,200 and are a great way to help minimize a young adult’s student loan debt. In this post, we’ll fill you in on…
Read MoreHow To Track Your Net Worth
This post was originally published in early 2009, but brought to the forefront as I believe it’s one of the more important strategies for growing wealth. For those of you who have been following my journey, you’ve probably noticed that I’m a big believer in tracking and managing progress to help achieve desired goals. I…
Read MoreWhen to Buy Dividend Stocks
I wrote my original thoughts on when to buy dividend stocks roughly a decade ago – and with my best dividend stocks in Canada article one of the most popular on the site, I thought it was the perfect time for an update. Dividend investing can mean a couple things. It could include investing for…
Read MoreTop Premium Cash Back Credit Cards in Canada
A premium cashback credit card with an annual fee is a great way to maximize your cashback rewards – especially if you make most of your purchases on credit cards. The best paid cashback credit cards in Canada feature high earn rates and some truly excellent perks – significantly better than Canada’s best no-fee credit…
Read MoreHow Do I Maximize RESP Withdrawals?
With my oldest child turning 11 this year, my mindset and strategy for our family RESP is starting to shift from accumulation and growth to a more balanced portfolio. This has many similarities to retirement planning but on a smaller scale. In your younger years, there is a focus on growth, but as retirement approaches,…
Read MoreHow Much TFSA Contribution Room Do I Have In 2022? TFSA Rules and Limits
There is a TON of investment advice out there. Some should only be taken into consideration after a thorough investigation and planning. Some – like contributing to a TFSA – is just sound advice that should be acted on quickly. The reason? Two words: tax free. That is not something you hear often, and that’s…
Read MoreShould I buy Whole Life Insurance for my Children?
A reader, Arlene, recently asked a question in my article “investing on behalf of kids” about obtaining “Whole Life Insurance” for their young children. A financial planner suggested that obtaining permanent insurance for their children is a good idea to invest in their future. Here is the question: Hello! A financial planner thinks it’s a good idea…
Read MoreThe Best No-Fee Cashback Credit Cards in Canada
If you’re not using the best free cashback credit cards in Canada, then you’re leaving free money on the table! We launched this no-fee cashback credit card list in 2007 and we update it regularly, so you always know which no-fee cashback cards to consider. You’ll find our best free cashback credit cards in Canada…
Read MoreSimple Low Cost Diversified Index ETF Portfolios 2022
We’ve been writing about low-cost ETFs in Canadian index portfolios since 2008. Below is our 2022 update. Unless you have been living under a rock (which we would actually understand considering the times we are in), you have definitely heard of diversified indexing. Diversified indexing is a popular investment strategy for a lot of reasons.…
Read MoreFinancial Freedom Update Nov 2021 – Big Dividend Raises Edition
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…
Read MoreThe Best Low Cost Ways to 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…
Read More5 Ways to Get Your Credit Score and Credit Report for FREE
It’s now easier than ever to get a credit score check in Canada for free! I mean… a credit score check is only really important if you hope to: Get a mortgage Purchase a car Rent an apartment Get a great credit card Qualify for certain types of insurance Even gain specific types of employment…
Read MoreUltimate Options Trading Guide in Canada 2022
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…
Read MoreWays to Maximize the Canada Child Benefit (CCB)
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…
Read MoreTop No Fee Rewards Credit Cards in 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.…
Read MoreHow To Pay Off Your Mortgage In 3 Years
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…
Read MoreThe Biggest Risk of Early Retirement (FIRE) – Sequence of Returns!
The concept of financial independence/retire early (FIRE) is all the rage in the personal finance space. The idea is to save a large percentage of your income (50% or more), live as frugally as possible, and retire in a short period of time while continuing to live frugally. Sometimes, fortunate young people with higher incomes…
Read MoreBMO SmartFolio Review 2022
I’m a huge fan of robo advisors, and BMO’s robo advisor: SmartFolio is no exception to that. If you’re not familiar with robo advisors the basic idea is that you will determine your overall risk tolerance, and that BMO will set you up with an automated portfolio using big broad index funds that spread your…
Read MoreHow to Become a Millionaire in Canada
If you’re reading this website you’re probably interested in a Canadian perspective on how to become a millionaire. Most people like to imagine their lives with more money, but things often get a little cloudier when it comes to the “how”. As I’ve been writing about on this site for a couple decades now, there…
Read MoreFinancial Freedom Update Sept 2021 – Market Highs Edition
Welcome to the Million Dollar Journey September 2021 Financial Freedom Update – Market Highs 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 independence.…
Read More25 Ways to Save Money in Canada
Editor’s Note: This article was originally written by FT back in 2017. Due to its popularity, we have asked FT to update it for 2022 with more relevant advice. As always, we encourage you to comment below and tell us how you save money in your day to day life. Out of all the strategies…
Read MoreFinancial Freedom Update (Q3) 2021 – Sequence of Returns Risk Edition
Welcome to the Million Dollar Journey 2021 (Q3) Financial Freedom Update – the third update of the year! 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…
Read MoreHave I Given Up on the Smith Manoeuvre?
Out of many investing topics written about on Million Dollar Journey, the Smith Manoeuvre was one of the first and among the most popular investment strategies discussed. What is the Smith Manoeuvre? But, what is the Smith Manoeuvre and why is it so popular? This investment strategy was named after Frasier Smith, a financial advisor who…
Read MoreDividend Stocks Rock Review 2022
Investing on your own is not an easy task. From mutual funds to robo advisors and individual stocks, there are a wide range of strategies, information services and trading platforms to choose from. It can quickly become overwhelming. This is where the simplicity of dividend investing really shines. I started investing in mutual funds when…
Read MoreFinancial Freedom Update (Q2) 2021 – Portfolio All-Time High Edition
Welcome to the Million Dollar Journey 2021 (Q2) Financial Freedom Update – the first update of the year! 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…
Read MoreCanadian Undervalued Stocks
As many of you know, I use the dividend investing strategy for the Canadian portion of my portfolio. To summarize the strategy, I essentially own the largest dividend paying companies that have a history of annually increasing their dividend. I started building my dividend portfolio many moons ago (around 2008), and it has grown to…
Read MoreFinancial Freedom Update (Q1) 2021 – First Update of the Year
Welcome to the Million Dollar Journey 2021 (Q1) Financial Freedom Update – the first update of the year! 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…
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…
Read MoreTop Blue Chip Stocks in Canada for 2022
One of the main investment strategies that I have used on my way to financial freedom is dividend investing. In this strategy, I buy companies that have a history of paying dividends, but more importantly dividend increases. In order for a company to pay a steady, sustainable growing dividend, they need to have a strong…
Read MoreFinancial Freedom Update (Q4) 2020 – Volatile Stock Market Edition ($61,850 in Dividend Income)!
Welcome to the Million Dollar Journey 2020 (Q4) Financial Freedom Update – Volatile Market Edition! If you would like to follow my latest 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…
Read MoreEarly Retirement – Dividend Taxes in Canada
Ever wonder what it would be like to live off passive income? Spending your day doing whatever you want and working on passion projects because of interest rather than putting bread on the table. What about doing this well before you turn 65? What about financial freedom in your 40’s or even 30’s? I’m here…
Read MoreMy Favorite Free Personal Finance Apps
Readers often ask what my favourite personal finance apps are. It’s not an easy question to answer, as the apps we choose are highly personalized to our particular needs, goals, habits and more. The good thing is, there are so many apps out there, that anyone can find exactly what they are looking for. But…
Read MoreThe Pros and Cons of the New Aeroplan
The new Aeroplan was just announced and there were a lot of changes. This wasn’t a minor refresh, it’s a complete redesign that will benefit most people, but there’s no denying that some travellers will be disappointed. To give you some context, Air Canada was going to cut ties with Aeroplan (owned by Aimia at…
Read MoreFinancial Freedom Update (Q3) 2020 – New Market High Edition ($61,050 in Dividend Income)!
Welcome to the Million Dollar Journey 2020 (Q3) Financial Freedom Update – New Market High Edition! If you would like to follow my latest financial journey, you can get my updates sent directly to your email, via Twitter or Facebook, and/or you can sign up for the monthly Million Dollar Journey Newsletter. For those of you new here, since achieving $1M…
Read MoreCalculating Your Adjusted Cost Base (ACB)
If you’ve invested in a non-registered portfolio you’ve likely come across the tax-preparation question: How to calculate your adjusted cost base (ACB). It’s certainly a pain in the portfolio, and can be tedious and complicated at times. But it’s a necessary ‘evil’. You need to know your ACB in order to calculate the capital gain…
Read MoreThe Hot Potato Investing Strategy
If you’ve been following this blog for a while, you’ll know that most of my wealth is in the stock market for the long-term. While there are many short term stock trading strategies, many of these strategies just don’t work out for regular investors. In fact, the initial losses often turn beginner investors away from…
Read MoreFinancial Freedom Update (Q2) 2020 – V-Shape Recovery Edition ($60,550 in Dividend Income)!
Welcome to the Million Dollar Journey 2020 (Q2) Financial Freedom Update – the V-Shape Recovery Edition! If you would like to follow my latest financial journey, you can get my updates sent directly to your email, via Twitter or Facebook, and/or you can sign up for the monthly Million Dollar Journey Newsletter. For those of you new here, since achieving $1M…
Read MoreHow Flow Through Shares Work
One of the more interesting Canadian-specific investment tax strategies available is flow through shares. I’ve written several articles over the years on how flow through shares work, what they are, their associated advantages. As I began to update my knowledge on these unique investment tools, I decided to combine the piecemeal articles that I had…
Read MoreInvesting Taxes: Dividends, Interest & Capital Gains
Are you curious about how investing taxes are calculated on dividends, interest, and capital gains across the various accounts in your portfolio? I am by no means a tax expert, but I do have enough knowledge to give general guidelines on how you can figure out your own investing taxes and prioritize your subsequent investments.…
Read MoreIndexed Family Education Fund (RESP) Portfolio Update – 2020 Edition
During this time of uncertainty, many readers have contacted me for continued portfolio updates. One group in particular – parents – are asking me what I’m doing with my RESPs. 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. …
Read MoreFinancial Freedom Update (Q1) 2020 – Bear Market Edition ($59,500 in Dividend Income)!
Welcome to the Million Dollar Journey 2020 (Q1) Financial Freedom Update – the Bear Market Edition! If you would like to follow my latest financial journey, you can get my updates sent directly to your email, via Twitter or Facebook, and/or you can sign up for the monthly Million Dollar Journey Newsletter. For those of you new here, since achieving $1M…
Read MoreWill a Mini-Split Heat Pump Save You Money? Our Results After the first Year!
In late 2018, we installed a mini-split heat pump for the purpose of reducing our electricity bill. Around here in the most easterly parts of Canada, most of the houses use electric baseboard heating as the primary source of heating. While baseboard heating is a lower cost option during installation, the operating costs can rack…
Read MoreFinancial Freedom Update (Q4) – 2019 Year End Update ($55,200 in Dividend Income)!
Welcome to the Million Dollar Journey 2019 (Q4) Year-End Financial Freedom Update. If you would like to follow my latest financial journey, you can get my updates sent directly to your email, via Twitter or Facebook, and/or you can sign up for the monthly Million Dollar Journey Newsletter. For those of you new here, since achieving $1M in net worth in June…
Read MoreRunning out of HELOC Space with the Smith Manoeuvre
If you’ve been following the blog for a while, you may have heard about the Smith Manoeuvre. At a high level, it’s a long-term investment strategy for investors with high risk tolerance. Essentially, it’s where an investor borrows against his home (using a HELOC) to invest in the stock market, business, and/or real estate. The plan…
Read MoreFinancial Freedom Update (Q3) – September 2019 – Reaching the Cross Over Point ($53,400 in Dividend Income)!
Welcome to the Million Dollar Journey September 2019 (Q3) Financial Freedom Update – the third update of 2019! If you would like to follow my latest financial journey, you can get my updates sent directly to your email, via Twitter or Facebook, and/or you can sign up for the monthly Million Dollar Journey Newsletter. For those of you new here, since achieving…
Read MoreLate Starting your RESP? Here’s how to Catch UP!
A friend of mine, Gary, recently asked me about registered education savings plans (RESPs) and if it’s too late to get started. Gary’s kids are 14 and 12, and while a bit late in the game, there is still time to take advantage of free government money. What is an RESP? An RESP stands for…
Read MoreIncome Splitting Tax Strategy – Spousal Investment Loan
A couple of years ago, I wrote about income splitting strategies to help reduce family taxes in the scenario that one spouse makes significantly more income than the other. Strategies such as: Contributing to the lower-income spouses TFSA (no attribution rules for TFSA contributions); Maintaining separate bank accounts where the higher income spouse pays for…
Read MoreCan You Have Too Much RRSP?
Since I’ve written about how much you need to save to reach $1M in your RRSP starting in your 30’s, 40’s, and 50’s, I’ve been getting questions from readers who have significant RRSP contributions. More specifically, can you have too much in an RRSP? I haven’t been able to find any good articles online that…
Read MoreOwning Individual Real Estate Investment Trusts (REITs) vs REIT ETFs
Building an indexed diversified portfolio has never been easier and cheaper for investors. If you like to put your portfolio on autopilot, you can buy a single all-in-one ETF that will even re-balance your stock bonds automatically, all while charging very low fees. Related: All-in-one ETF Battle: Vanguard vs iShares vs BMO All you need…
Read MoreBuilding a $1,000,000 RRSP Starting in your 30’s, 40’s, and 50’s.
I recently wrote about how you can build a comfortable retirement lifestyle even if you start a little late. The article included a couple of examples of an investor who starts in his/her 40’s and 50’s and still result in a comfortable middle-class retirement. But what if you want a little more during retirement? What…
Read MoreFinancial Freedom Update (Q2) – June 2019 ($50,660 in Dividend Income)!
Welcome to the Million Dollar Journey June 2019 (Q2) Financial Freedom Update – the second update of 2019! If you would like to follow my latest financial journey, you can get my updates sent directly to your email, via Twitter or Facebook, and/or you can sign up for the monthly Million Dollar Journey Newsletter. For those of you new here, since achieving…
Read MoreBuilding a Simple Low-Cost Indexed ETF Portfolio in USD
With recent articles about all-in-one ETFs and withholding taxes on ETFs in registered accounts, I’ve been getting questions about if there are USD based all-in-one ETFs, and if not, what are the most efficient USD ETFs to own? There are a number of readers who make their money in USD, and there are some advantages…
Read MoreRetirement Calculators – How Much Do You Need to Retire?
This popular article was originally written in 2017, but since then, a couple of the calculators have gone offline. I have updated this article with a couple of new additions. Enjoy! A reader recently asked me if she had saved enough for retirement. While it seems like a challenging question to answer, it can be roughly…
Read MoreThe Real MER on ETFs – Foreign Withholding Taxes on ETFs
I’ve written a lot about index investing as one of the best strategies for beginner and experienced investors alike. It’s a strategy that I follow with a large portion of my portfolio to get ex-Canada (outside Canada) diversification (I use dividend investing for my Canadian exposure). Not only do I use this strategy in my…
Read MoreWhat Happens to your RRSP and TFSA after you Die?
Last week, I wrote about the most efficient way to withdraw from your accounts during retirement. Within the article, I mentioned that while the general rule of thumb is to keep your RRSP as long as possible, there are some situations where drawing down on your RRSP first makes the most sense. This is particularly…
Read MoreWithdrawing From RRSP/TFSA to Fund Early Retirement
I’ve been writing about money on MDJ for a long time – a very long time. During this tenure, most of my pieces have been about the accumulation of money and wealth. Articles like: Ways to save money How to pay off mortgage debt How to track your net worth Completing the million dollar journey…
Read MoreMaxed out RRSP and TFSA – Now What?
I received an email from a reader with a bright financial future. She has both her RRSP and TFSA maxed out and wondering what to do next. First of all, thank you for sharing your wisdom and financial journey. I love reading your blog and I learn so much from it! I was wondering if…
Read MoreFinancial Freedom Update (Q1) – March 2019 ($48,200 in Dividend Income)!
Welcome to the Million Dollar Journey March 2019 (Q1) Financial Freedom Update – the first update of 2019! If you would like to follow my latest financial journey, you can get my updates sent directly to your email, via Twitter or Facebook, and/or you can sign up for the monthly Million Dollar Journey Newsletter. For those of you new here, since achieving…
Read MoreThe Mini-Split Heat Pump Experiment – Will it Save You Money?
Way back in 2008, we completed a custom home that we still live in today. In that same year, I wrote a post about my regrets of not going with a heat pump to save money on energy bills. I’m not sure if you use electric heat where you are from, but if you do,…
Read MoreVanguard vs. iShares All-in-One ETFs
Many of you know how much I appreciate and recommend the Vanguard all-in-one ETFs. What I like most about them is that in a single ETF, it provides investors with a complete globally indexed portfolio that will automatically rebalance to maintain the set ratio of equity/bonds. All for a very low management expense ratio (MER)…