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Welcome to Million Dollar Journey! If you’re new here, you can learn about me and even follow my financial journey to becoming a millionaire by 35 through my net worth updates. Since hitting the Million Dollar milestone, I’ve been documenting my journey towards financial freedom that you can follow here. If you are just starting your own financial journey, you can start with Financial Freedom 101 located in the navigation bar above. Before you leave, check out my latest articles listed below and don’t forget to subscribe to my updates!

Capital Gains Tax when Converting Currency

When I wrote about some low cost ways to convert your valuable US Dollars (USD) back into Canadian dollars (USD), there was a comment about the potential for capital gains tax which caught some readers by surprise. At a high level, if there is any sort of "profit" from doing a conversion from USD to… Read More

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Low Cost Ways to Convert USD to CAD

Back in late 2014, I wrote about how great it was to be holding US Dollars (USD) due to the declining Canadian dollar (CAD).  At the time of that post, it cost $1.13CAD to purchase $1 USD, or a 13% premium.  Due to the drastic oil decline over the past 18 months, CAD has followed… Read More

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A couple weeks ago, I wrote about the tax implications of living off eligible dividend income (ie. dividends paid by Canadian publicly traded companies). The conclusion was that it's very tax efficient to live off dividends providing that you don't have any other income. I also determined that, counting for weather and dividend taxation, Ontario… Read More

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Online Portfolio Manager Review: BMO SmartFolio

This post brought to you by BMO. The content and opinions expressed below are that of Million Dollar Journey. It seems that automated online portfolio managers are the hype of the investment world these days.  With BMO introducing SmartFolio, a new online portfolio management service and the first of the big banks, they contacted me to provide… Read More

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Welcome to the Million Dollar Journey January 2016 Net Worth Update - Team MDJ edition. A select group of readers were selected to be part of Team MDJ which was conceived after the million dollar net worth milestone was achieved in June 2014. SmilingSaver was selected as a team member and will post net worth updates on a regular… Read More

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Every year when winter strikes in Newfoundland, my wife and I always ask the same question "what would it be like to live somewhere else?".  While my wife and kids dream of enjoying a warm beach in Florida, my mind on the other hand, wonders to jurisdictions with lower taxes and a lower cost of living… Read More

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Financial Checklist to Start the Year (2016)

Similar to the end of the year tax tips, there are certain financial to-do items to start off the year on a strong note.  Here is the checklist that I use at the beginning of the year. For 2016, TFSA's get $5,500 in contribution room ($46,500 total since 2009).  If you made a withdrawal in 2015… Read More

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The Best of Million Dollar Journey: 2015 Edition

Is it possible that each year goes by faster than the last? 2015 certainly felt that way. On that same note, did you know that MillionDollarJourney.com started in December 2006? That makes this site 9 years old which means I've been blogging for a quarter of my life! What keeps me going? When it all… Read More

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