Welcome to the Million Dollar Journey.

If you’re new here, you can learn about me, and follow step-by-step along the path I took to become a millionaire by age 35. Over the last 14 years, I’ve written extensively about Canadian dividends and the index investing strategies that I’ve used, in addition to some everyday money-saving tricks. Please check out my FREE eBook: Can I Retire Yet? and join 30,000+ Canadians on your own personal Million Dollar Journey.

I've completed my Million Dollar Journey.
Let me guide you through yours.

 

saving,frugal living,

Running out of HELOC Space with the Smith Manoeuvre

By FT | October 7, 2019 |
saving,frugal living,

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…

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Reader Mail: I’m a Low Income Senior – RRSP or TFSA?

By FT | September 30, 2019 |
saving,frugal living,

A reader emailed me recently about being a low-income senior, but with some savings ability and was wondering if it makes sense to start an RRSP or a TFSA. The email did not include a lot of details, but for the most part, my answer would be the same – TFSA. The next question is…

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Free Canadian Financial Summit tickets, Getting Retirement Ready, Living off Dividends and More!

By FT | September 23, 2019 |
saving,frugal living,

Sponsored RBC InvestEase contacted me to help spread the word on a new educational initiative that they started to help beginner investors.  As they have launched a very competitive robo-advisory service that I positively reviewed, they are building an educational database of articles to help with your investing journey. Check out RBC InvestEase articles on…

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Financial Freedom Update (Q3) – September 2019 – Reaching the Cross Over Point ($53,400 in Dividend Income)!

By FT | September 16, 2019 |
saving,frugal living,

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…

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Late Starting your RESP? Here’s how to Catch UP!

By FT | September 9, 2019 |
saving,frugal living,

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…

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Dividend Investing – Your Questions Answered

By FT | August 26, 2019 |
saving,frugal living,

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…

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Income Splitting Tax Strategy – Spousal Investment Loan

By FT | August 19, 2019 |
income 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…

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Top Free Cash Back Credit Cards in Canada for 2020

By FT | August 11, 2019 |
best cash back credit card in Canada

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…

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