Canada’s online banks are innovating and stealing market share faster than most people thought possible a couple of years ago. According to the Canadian Bankers Association, 78% of Canadians now do most of their banking online - and that number just keeps climbing. This shift has proven to be a lot more than a short-term trend or pandemic blip. The move to digital banking appears to be permanent, and it’s not surprising when you think about it. For most people, managing money online is qu...| Million Dollar Journey
If you have been like many investors and sticking with an easy, passive all-in-one ETF, but looking to try out something a bit more active, investing in commodities in Canada could be just the thing to scratch that itch. Commodities are consumer products such as energy, metals and agriculture tend to fare particularly well in times of high inflation. As inflation rates continue to rise worldwide, we can expect commodities to continue to surpass stock returns. So, now is the perfect time to co...| Million Dollar Journey
There is a TON of investment advice out there. Some should only be taken into consideration after a thorough investigation and planning. Some - like contributing to a TFSA - is just sound advice that should be acted on quickly. The reason? Two words: tax free. That is not something you hear often, and that’s why we want to help you start contributing to your TFSA as quickly as possible to achieve maximum money saving and investment earning results. If you turned 18 on or before 2009...| Million Dollar Journey
For income-oriented Canadian investors the choice between a Bond (or Bond ETF), a GIC, or a high interest savings account has become more important than ever. With interest rates at historic lows (for a little while longer anyway) choosing the best option for the “safe, low risk investing” part of our portfolio can make a big difference! Read on to find our picks for the best Bond ETF, the best GIC rates in Canada, and our pick for top Canadian high interest savings account. Best Cana...| Million Dollar Journey
We’ve had hundreds of Canadians email us or comment, “Should I buy Bitcoin?” throughout the latter part of 2020, and it has only increased in 2021 as the Canadian Bitcoin ETFs have come online. The truth is that I’m not a Bitcoin (BTC) guy. Yes, I know what it is. Yes I’ve heard Bitcoin enthusiasts tell me why I’m wrong. I know that it’s worth $1.2 Trillion or so at this point. No, I still don’t want to buy bitcoin. It could go to $1Million and I will still sleep so...| Million Dollar Journey
The best stock trading apps in Canada have really improved since I started Million Dollar Journey seventeen years ago. New fintech companies have really pushed the old school banks to lower their fees, improve their usability, get more efficient at bringing on new customers, and just creating a better mobile stock investing experience. While I’m still a big advocate of using a desktop for DIY investing, (hence my focus on that platform for my best online brokers in Canada comparison) I have...| Million Dollar Journey
EQ Notice is a new product not offered by any other Canadian bank - a hybrid between a HISA and a GIC. We review it and let you know if it's safe & good to use.| Million Dollar Journey
Most Canadians never stop to consider when low risk investments are the most appropriate use of savings versus when higher-risk long-term investments are the better route. The truth is that most Canadians choose their investment by “gut feel.” You likely don’t need me to tell you, that’s not an ideal process. When choosing between higher risk and low risk investments, it’s important to consider your personal goals and risk tolerance. Personally, I think that if you need your money i...| Million Dollar Journey
Long-term investing is one of the most powerful ways to grow your wealth. As the name implies, long-term investing means that an investor buys an asset with the intent to hold it for some time. The time frame can be years or even decades. Over time, long-term investing has the potential to produce excellent returns due to the magic of compound interest. While this strategy might not appeal to everyone, especially those with a high risk tolerance, it has historically proven to be an effectiv...| Million Dollar Journey
The best Canadian high interest savings accounts for 2024 combine a mix of high interest rates, with no-fee banking, and elite user-friendly platforms. One thing to note right off the top: If your savings goal is more than 6 months in the future, you should likely be checking out our Best GIC Rates in Canada Comparison instead of using a high interest savings account. That said, our top HISAs are an excellent short term investment option when it comes to saving for a trip, storing an emergenc...| Million Dollar Journey
Given the realities of skyrocketing interest rates it’s no wonder that interest in Canada’s Best Cash ETFs, high interest savings account (HISA ETFs), and money market ETFs has significantly increased as well. While Cash ETFs aren’t exactly the same thing as money market ETFs, the two are very similar. The terms high interest savings account ETF and Cash ETF on the other hand, mean exactly the same thing. While cash ETFs are a solid investment (more on that below), you really need to c...| Million Dollar Journey
Canada’s best robo advisors are an excellent investing solution for the many folks who are intimidated by the thought of buying and selling shares on their own - but who don’t want to pay the outrageous mutual fund fees that come with the traditional investments recommended by banks and credit unions. There is incredible value in automatically taking a piece of your paycheque every month and automatically turning it into a diversified investment portfolio. Way too many of us hesitate to g...| Million Dollar Journey
When I first started writing about Canadian personal finance twenty years ago, my list of the best ETFs in Canada could fit on a napkin. There were no Canadian all-in-one ETFs, no catchy tickers, and definitely no slick marketing campaigns. ETFs were basically niche tools used by hardcore index investors and a handful of spreadsheet-loving DIY types. Fast-forward to today, and the landscape has completely changed. While I still hold a solid chunk of Canadian dividend stocks in my portfolio, l...| Million Dollar Journey
Is now the time to lock in Canada’s Best GIC Rates? With the Bank of Canada suggesting a potential rate cuts in 2025, and with Trump’s tariffs knocking on the door, the best GIC rates in Canada may be hovering at their peak -which could mean now’s a great time to snag something above 3.3%. A Guaranteed Investment Certificate (GIC) is essentially the Canadian counterpart to an American CD (Certificate of Deposit), offering a stable way to grow your money. GICs shine when you’re aiming ...| Million Dollar Journey
As we look ahead to summer and the second half of 2025, it’s time for an updated look at the Best Online Brokerages in Canada. With RRSP season in the rearview mirror – and what might be shaping up to be another round of “tariff season” drama ahead – now’s the time to lock in the easy DIY investing wins. I’ve been writing about Canadian online brokers for nearly 20 years, and the changes in the space have been massive. Fees have plunged, platforms are smoother than ever, and com...| Million Dollar Journey
EQ Bank Account Options and Interest Rates Account TypeInterest RateBest ForDaily High Interest Account1.25%* (Plus 2.75% if you direct deposit your pay)People who want the highest consistent interest rate in Canada + free e-transfers + super cheap international money conversion + FREE BANKING + USD Accounts for Canadians EQ GICs2.60% - 3.60%Folks looking to get a high ultra-safe return EQ TFSA Account3.60%The highest guaranteed rate of return in a TFSA in Canada.EQ RRSP Account3.60%The hig...| Million Dollar Journey
Picking the best Canadian Dividend Stocks for 2025 isn’t an easy task! After such a stellar year in North American equities in 2025, there is much more room to move down than up. That said, my dividend stocks portfolio is all about long-term cash-flowing companies with large financial moats to protect them. Each month I take a look at the stocks that I highlighted at the beginning of the year, and I focus on the following key dividend stock comparison points: Dividend Yield Dividend Growth ...| Million Dollar Journey