After writing a deep dive article on whether the 4% safe withdrawal rate still works for retirement at various ages, I received a lot of questions basically asking: “Ok, so 4% is a good rule of thumb, but when I actually go to withdraw money from my various investment accounts, to put into my chequing account & high interest savings account in order to pay for day-to-day expenses, what is the best way to avoid taxes?” Upon reading many of these types of questions, I realized that I wasn...| Million Dollar Journey
Investing on your own is not an easy task. From mutual funds to robo advisors and individual stocks, there are a wide range of strategies, information services and trading platforms to choose from. It can quickly become overwhelming. This is where the simplicity of dividend investing really shines. I started investing in mutual funds when I was 16-year-old. Since then, I evolved into a mix of ETFs and dividend growth investing strategies. This was the beginning of a long investing jou...| Million Dollar Journey
When I initially wrote this article about building RRSP wealth in your 30s, 40s, and 50s, my goal was to create an easy visual that illustrates just how much you would have to begin saving today if you wanted to be a millionaire “tomorrow” (when you retired). Five years later, the data stands up pretty well. I’m happy to say that my personal RRSP is well on the way to million-dollar status! Now, the more relevant question might be, do you actually need a million dollar RRSP to retire? W...| Million Dollar Journey
What is Wealthsimple? Wealthsimple was founded back in 2014 by Michael Katchen, Brett Huneycutt and Rudy Adler. I gotta say that I really liked the company more in its first few years than in its current iteration. For the first five years of its existence, Wealthsimple was solely focused on the product that is now known as Wealthsimple Managed Investing. Some people called this a “robo advisor,” others called it a “automated wealth manager” – whatever you wanted to call it, Wealths...| Million Dollar Journey
A blue chip stock refers to stocks of high value companies. Think companies that are household names, have a widely recognized brand and are so big that they are unlikely to fail. The top blue chip stocks in Canada include companies from a wide range of sectors; utilities, industrial, financial and consumer staples. These companies often have very little - if any - competition, which is a great thing if you are one of their investors. On top of having a large market capitalization, and the ...| 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
Dividend earning stocks are appealing for a number of reasons. They can help you earn passive income, are generally more stable in a volatile market, and are a great hedge against inflation. If you are thinking about investing in Canadian telecom dividend stocks, now might be the right time. Canadian Telecom companies have historically been a great choice when it comes to dependable dividends. They might not seem as exciting as some of the other options out there, but with all of us increasin...| Million Dollar Journey
Investing in Canada’s best energy stocks have been a key part of my investing strategy for some time now. A lot of people don’t remember this, but it wasn’t so long ago (August 2020) that a lot of folks were asking if Canada’s energy dividends were in trouble? Of course, that was before energy prices and energy stocks dominated the headlines for the next couple of years. At the time, Canadian oil prices were about $30 a barrel and energy dividends were under a lot of pressure due to...| Million Dollar Journey
Investing in Canadian Dividend Kings (sometimes known as Dividend Aristocrats) tends to come back into fashion when bond yields and GIC rates start to go down. With safer assets generating so little income, dependable dividend payers begin to look more and more attractive. Of course, staying committed to dividends can be a challenge when stocks like Nvidia are soaring. The real test for any dividend investor is sticking to the plan through thick and thin. Click here to jump directly to my 202...| Million Dollar Journey
Now that second quarter earnings are in, I felt like it was an optimal time to update our 2024 Canadian bank stocks article. Ever since I started this website back in 2008, Canadian bank stocks have been reader favourites. The slow-steady-dependable nature of these companies makes them a natural fit for dividend lovers and Canadian retirees, and that’s why several of the banks occupy prominent spots on our Best Canadian Dividend Stocks List. Interest rates can’t go down fast enough for Ca...| 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
Is Questrade Safe & Secure? One of the most common questions that I have gotten in the comments below is: Is investing my money through a Questrade online brokerage account safe? Is Questrade as safe as RBC, TD, CIBC, ScotiaBank, and BMO?- MDJ reader The answer: Yes! Questrade is fully regulated by two key financial oversight bodies in Canada: the Canadian Investment Regulatory Organization (CIRO) and the Canadian Investor Protection Fund (CIPF). These aren’t just formalities - they’re fu...| Million Dollar Journey
Current Qtrade New Customer Promotion Qtrade currently has the best cash-back offer on the market in an effort to get you to try their platform. In brief - they want to pay you $150 to open an account with them. Details: Amount in New Qtrade AccountCash Back$1,000-$9,999$50$10,000-$24,999$100$25,000+$150 In order to get your cash back, the minimum you have to invest is $1,000. The good news though is that your amount of “new net assets” can be spread out amongst multiple accounts. In o...| 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
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