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
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
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