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!

Can You Have Too Much RRSP?

By FT | August 5, 2019 |

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…

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Owning Individual Real Estate Investment Trusts (REITs) vs REIT ETFs

By FT | July 29, 2019 |

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…

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

By FT | July 22, 2019 |

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.…

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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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