Money when New to Canada, Adding REITs to Your Portfolio, Smith Manoeuvre with Cottages and More!

Freebie of the Month

If you are a reader of MDJ, you will know that I’m a fan of Questrade discount brokerage. I opened an account with them when they first started in Canada, and continue to open accounts with Questrade – in fact, I’m just about to open a spousal RRSP to help with income splitting during retirement.

Some of the highlights include:

  • Low commission for trades ($4.95);
  • No commission when buying ETFs, only when selling (perfect for long-term index investors);
  • Little or no maintenance fees – Only charge inactivity fees if balance under $5k; and,
  • Easy to use interface.

Not only has it been voted MDJ’s favorite discount brokerage, but it has also been voted as #1 by major Canadian publications.  As a bonus, new accounts can get a $50 trading credit.  Check out my full review here along with a coupon code for $50.

Monday Money Links

With my parents immigrating to Canada many years ago, one topic I haven’t written about is personal finance for newcomers to Canada.  Maria Weyman, one of the owners of Credit Card Genius, has a very detailed post about getting your finances in order if you are new to Canada.  Check it out!

As you may know, I’m a big advocate of index investing for both beginner and experienced investors alike.  I typically write about holding varying percentages of Canadian equity, US equity, International equity, and bonds.  However, I haven’t written a lot about holding real estate investment trusts (REITs) in a portfolio.  I hold REITs in my TFSA, although a fairly small portion of my overall portfolio.  Dale from Cut the Crap Investing, details adding Canadian and International REIT ETFs to your portfolio.   

On the same topic of index investing, the most challenging part is simply getting started.  It gets much easier once you get the train rolling and compounding.  Mark from My Own Advisor has a detailed article for investors that are just starting out.

In the early days of MDJ, I wrote a lot about the Smith Manoeuvre which is a leveraged investment strategy made popular by Fraser Smith.  In fact, I implemented this strategy in 2008, and still collecting dividends from this portfolio to this day.  To expand on this strategy, I guest posted on Boomer and Echo on using the Smith Manoeuvre On cottages and investment properties.

Recently, I wrote about RESPs, specifically, how to eliminate volatility and maximize returns when children start post-secondary education.  However, that’s more for parents at the end of their RESP journey.  Gen Y Money does a great job in this article for new parents just starting their RESP journey.

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FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.
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2 years ago

Do you like WealthSimple Trade account? you pay no fee for trading!

2 years ago

This is the 3rd place I’ve heard of the Smith Manoeuvre this month! I think I need to learn more about this…

Robb Engen
2 years ago

Thanks so much for guest posting while I was away on holidays! The SM continues to be a popular topic so I’m glad you were able to expand on the strategy.


2 years ago

thanks for the mention FT! Hope you have a great week and are enjoying the summer so far!