Helping Canadians with Personal Finance Since 2006 Learn how to save money, build an investment portfolio, and become financially independent - from a middle-class Canadian who has actually done it! Get Started Index Investing Dividend Investing Banking Robo Advisor Retirement Portfolio Smith Manoeuvre Tax Minimization Reviews Credit Cards All Categories As Featured On Toronto Star Forbes CBC The Globe and Mail Global The Financial Post Most Recent Articles all Articles Best 2025 Broker Promo...| Million Dollar Journey
What is portfolio rebalancing, and should you do it? If so, then how and when? We cover everything you need to know.| Million Dollar Journey
When I first wrote about the Smith Manoeuvre (18 years ago!) - a method to transform your mortgage into a tax-deductible loan - I never imagined it would become one of our most popular topics, racking up hundreds of comments. Even though I kicked off my own Smith Manoeuvre at practically the worst time in the last half-century (back in 2007), it still turned out pretty well for me. As we move into 2025, it’s becoming clear that high mortgages might be coming down a bit, the days of ultra-lo...| Million Dollar Journey
Are you curious about how investing taxes are calculated on capital gains, dividends, and interest in Canada? I’m not a tax expert, but with tax loss harvesting season coming out, I figured it might be a good time to review some of the basics between how Canadian investment returns are taxed in your RRSP, TFSA, and non-registered accounts. Investing Taxes in an RRSP Let’s start with RRSPs. As you probably know, RRSP contributions and investment growth are taxable only upon withdrawal. A...| Million Dollar Journey
What is RBC InvestEase? Some people prefer to stick with the familiar and trusted, especially when it comes to choosing a robo advisor - and if this sounds like you, RBC InvestEase could be a good fit. Offered by one of Canada’s most well-known banks, RBC InvestEase offers clients the ability to dip their toes in passive investing while sticking with a tried and true financial name. In this RBC InvestEase review, we’re taking a look at how it compares to the best robo advisors in Canada s...| Million Dollar Journey
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
What is Wealthsimple Trade? Wealthsimple Trade is an online brokerage platform that allows you to build and manage your own investment portfolio. It’s one part of Wealthsimple, a company with 1.5 million customers and $8.4 billion in assets under management. Wealthsimple has been around since 2014 and Wealthsimple Trade launched in 2019. Unlike Wealthsimple Invest and robo-advisors like it, Wealthsimple Trade is a 100% active investing platform. Investors with Wealthsimple Trade research, c...| Million Dollar Journey
Once the new disruptive force on the online discount brokerage scene, Robinhood’s “gamification” of commission-free stock trading changed the way millions of young people thought about the stock market. Robinhood’s commission-free trades, as well as their sleek and easy-to-use interface, appealed to first-time investors. However, the company has been vilified since it went public, perhaps most notably the star-laden film “Dumb Money” in 2023. Unfortunately for Robinhood investor...| Million Dollar Journey
I’ve been writing about the “Dogs of the TSX” Canadian investing strategy for about twelve years now. I can’t claim that I was the creator of the idea though. In fact, no Canadian can really lay claim to the “Dogs’” principles. The Dogs of the TSX can trace its roots back to the “Dogs of the Dow” strategy in the USA. The first place that I saw the idea being applied to Canada was when MoneySaver magazine started writing about the BTTSX or Beating the TSX Dividend Stock Strat...| Million Dollar Journey
An RESP, or Registered Education Savings Plan, is a registered tax-deferred investment account designed to help pay for a child’s education. In other words, RESPs are the best possible way to pay for your child’s eventual college and/or university bills! RESPs are eligible for government grants (re: Free Money) of up to $7,200. In this post, we’ll fill you in on all the basics of RESPs, from how (and where) to set up an RESP, and how to maximize your RESP contributions. What is an RES...| 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
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
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
For many DIY investors the Wealthsimple vs Questrade comparison comes down to fees - but there are several other points of comparison that are worth considering given how important choosing your trading platform is. While both Questrade and Wealthsimple are both included amongst my personal rankings of the best Canadian online brokers, there are some major differences between the two platforms. Quick Note: It’s important to understand right from the beginning that Questrade and Wealthsimple...| Million Dollar Journey
If you’ve started your research on investing, but still aren’t quite sure how or where to get started, you are not alone. Plenty of almost-investors get stuck at the starting line for reasons like not feeling educated enough, feeling like they don’t have enough money to start investing, or simply feeling unclear on which type of investment to choose. When it comes to investing, the best time to start is now, and index investing is the perfect way to begin. It’s simple, easy to manage,...| 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
Canada’s all-in-one ETFs (also called portfolio ETFs) have been the single most important investment product innovation since I’ve started writing about this stuff nearly two decades ago. The Vanguard, iShares, and BMO all-in-one ETFs are the perfect marriage of index investing strategy, convenience, asset allocation math, and behavioural safeguards. These ETFs - which are actually a collection of smaller ETFs - are so diverse that they actually include several of the Best ETFs in Canada,...| 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
If you’ve been searching for the best rated discount brokerages in Canada, it’s likely that the Wealthsimple vs. Qtrade debate has popped up on your radar quite a few times. They are both good options for DIY investors looking for an easy to use and low-cost way to invest, but they definitely have some major differences you’ll want to know about before deciding which one is best for you. We’ll be breaking it down for you in this article by looking at Qtrade and Wealthsimple’s fees, ...| 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