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Helping Canadians with Personal Finance Since 2006

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!

Using a GIC Ladder for RESP Withdrawals

By FT | July 15, 2019 |

I recently received a reader question about how to effectively use GIC’s with RESP withdrawals.  I have a question in regards to moving funds towards GIC’s. My son turns 17 later this month and his RESP portfolio has $70k. This month I would like to start moving funds into Money Market Fund and GICs. While…

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Building a $1,000,000 RRSP Starting in your 30’s, 40’s, and 50’s.

By FT | July 8, 2019 |

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…

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The Biggest Risk of Super Early Retirement (FIRE) – Sequence of Returns!

By FT | July 2, 2019 |

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.   Related: How much do you need to…

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Starting to Invest Later Can Still Result in a Comfortable Retirement

By FT | June 24, 2019 |

I’ve written a lot about investing and how combining an early start and compound interest can really make you wealthy. But for many, just graduating from post-secondary education and just starting a career at a moderate salary, big savings is not really an option.  Especially when you combine housing costs, debt payments, vehicle payments. While…

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Financial Freedom Update (Q2) – June 2019 ($50,660 in Dividend Income)!

By FT | June 17, 2019 |

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…

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Building a Simple Low-Cost Indexed ETF Portfolio in USD

By FT | June 10, 2019 |

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…

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5 Useful Retirement Calculators (2019) – How Much Do You Need to Retire?

By FT | June 2, 2019 |

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…

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The Real MER on ETFs – Foreign Withholding Taxes on ETFs

By FT | May 27, 2019 |
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…

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