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Million Dollar Journey
Frugality, Investing
Start Year:

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Net worth:
St. John's, Newfoundland, Canada
Life stage:
SIK (Single Income, Kids)

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Latest Blog Posts

Up until now, it seemed that the Canadian dollar (CAD) was on a death spiral relative to the U.S dollar (USD) when it reached a recent peak of $1.38 CAD for every $1 USD.  During that time, selling USD for the best possible price was popular using Norbert’s Gambit for savvy investors. Now that CAD is gaining strength again mostly due to the recent rate hike, buying USD has started to attract ...
Posted: Jul 17 2017 @ 7:30 AM
This post was originally written in 2007 but has been updated annually since. The reason why I’m posting it again now is because there have been changes to the best free credit card in Canada.  More below. After you guys gave me your favorite credit cards, I did a little research and came up with what I think are the best free cash back cards in Canada. With rewards points constantly ...
Posted: Jul 09 2017 @ 3:30 AM
PC Financial World Elite MasterCard $20 + $150 Gift Card Freebie! The PC Financial World Elite MasterCard is perhaps the best no annual fee grocery credit card out there.  It offers 3% cash back when shopping at Loblaws group of stores  (Loblaws, Dominion in NL, Real Canadian Super Store, No Frills, PC Mobile, and Shoppers Drug Mart) and you can redeem $20 or more towards products in their group of stores. For Loblaws shoppers out there, this ...
Posted: Jul 03 2017 @ 6:30 AM
Back in 2008, I wrote my initial post about our monthly expenses.  It’s always interesting going back in time to see what the circumstances were.  Back then, the update was compiled just before we had our first child, and we had a mortgage on our principal residence (a new build).  Our annual recurring outlay was around $50k (not including RRSP, savings, captial expenses etc). Five years later in 2013, I wrote an ...
Posted: Jun 26 2017 @ 6:30 AM
Welcome to the Million Dollar Journey June 2017 Financial Freedom Update – the second update of the year.  For those of you new here, since achieving $1M in net worth in June 2014 (age 35), I have shifted my focus to achieving financial independence.  How?  I plan on building my passive income sources to the point where they are enough to cover our family expenses.  All within the next 5 3.5 years. ...
Posted: Jun 19 2017 @ 6:30 AM
Welcome to the Million Dollar Journey June 2017 Net Worth Update – Team MDJ edition. A select group of readers were selected to be part of Team MDJ which was conceived after my million dollar net worth milestone was achieved in June 2014. Karl the Real Estate Agent was selected as a team member and will post net worth updates on a regular basis. Here is more about Karl. Name: Karl Age: ...
Posted: Jun 12 2017 @ 7:30 AM
Ever since doing research on how to setup an index portfolio for Americans, the case for index investing in my mind just keeps getting bigger.  It really is the simplest and one of the most effective ways to invest.  It’s geared for a wide spectrum of investors ranging from the beginner who has no knowledge of the stock market to the most advanced investor who watches the market every minute ...
Posted: Jun 05 2017 @ 7:30 AM
If you’ve been following my financial freedom updates, you’ll see that I’m a fan of global index ETFs (ex-Canada).  Two of my favorites are XAW from iShares and VXC from Vanguard. I like them because they provide diversified exposure to the largest companies in the world (outside Canada) through a single ETF, they are on the Toronto Stock Exchange (TSX) which means they trade in Canadian dollars (CAD), and they ...
Posted: May 29 2017 @ 6:30 AM
For a large portion of May, we were fortunate to be able to vacation in a nice warm location. Ok, you may have guessed it, it was Florida again. It seems to be the go-to spot for families from the east coast of Canada who get very little Spring weather. Or at least that’s our excuse for our once a year indulgence. During our vacation, we met some really great people ...
Posted: May 23 2017 @ 7:30 AM
This is a re-post but highly relevant.  Enjoy! As most people filed their tax return before the income tax deadline, it’s now a matter of waiting for that juicy tax return.  Most consider tax refunds to be “free money” that was unaccounted for.  And it’s true, you can do whatever you want with the money.  However, in my opinion, tax returns should be used wisely as it’s basically money that you overpaid to ...
Posted: May 15 2017 @ 7:30 AM


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