Welcome to Million Dollar Journey! If you’re new here, you can learn about me and even follow my financial journey to becoming a millionaire by 35 through my net worth updates. Since hitting the Million Dollar milestone, I’ve been documenting my journey towards financial freedom that you can read about here. If you are just starting your own financial journey, you can start with Financial Freedom 101 located in the navigation bar above. Before you leave, check out my latest articles listed below and don’t forget to subscribe to my updates!
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 More
A reader has prompted me to update this post (originally posted in 2016). Dividend growth investing 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 track record of annually increasing their payments to shareholders. I’m also a believer in…Read More
Henry Mah from “Your Every Growing Income” blog posted a questionnaire for income investors and I thought it would be useful to help summarize my investment principles in a single post. If you are a regular reader, you’ll know that while I’m a dividend investor, I’m also an index investor at the same time. In…Read More
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 More
This post was originally written in 2007 but has been updated annually since. The reason why I’m posting it again now is because there have been changes to the best free credit card in Canada. More below. After you guys gave me your favorite credit cards, I did a little research and came up with…Read More
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 More
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 More