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Blog Info

Name:
Million Dollar Journey
Category:
Budgeting
Tags:
Frugality, Investing
Start Year:
2006

Blogger Bio

Net worth:
Location:
St. John's, Newfoundland, Canada
Age:
30s
Race:
Unspecified
Gender:
Male
Life stage:
SIK (Single Income, Kids)
Profession:
Engineer
Fave $ Books:
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Latest Blog Posts

Electric vehicles (EV) are slowly becoming more accepted and perhaps even becoming mainstream. Being a technology and money geek, the idea of using owning an electric vehicle has me intrigued and even a little excited.  There aren’t a lot of options for electric vehicles, but it looks like 2018 will offer a number of options for consumers. Why do I like electric vehicles so much?  One main reason – efficiency!  They ...
Posted: Sep 18 2017 @ 3:30 AM
Welcome to the Million Dollar Journey September 2017 Financial Freedom Update – the third 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. If ...
Posted: Sep 11 2017 @ 3:30 AM
Welcome to the Million Dollar Journey September 2017 Financial Freedom Update – the third 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. If ...
Posted: Sep 11 2017 @ 3:30 AM
The bloggers behind Young and Thrifty have organized a virtual Canadian Financial Summit (CFS) starring 25+ personal finance experts in the country.   Some of these experts include: Andrew Hallam (Author of Millionaire Teacher);  Jon Chevreau (former editor of MoneySense Magazine); Peter Hodson (CEO of 5i Research Inc); Preet Banerjee (CBC’s The National Commentator); Ellen Roseman (Columnist at Toronto Star);  Rob Carrick (Columnist at The Globe and Mail); and many ...
Posted: Sep 04 2017 @ 3:30 AM
Welcome to the Million Dollar Journey August 2017 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. Nobleea – the Oil and Gas Engineer, was selected as a team member and will post net worth updates on a quarterly basis. Here is more about ...
Posted: Aug 28 2017 @ 3:30 AM
With the mandate of leveling the playing field between the rich and the middle class, the latest proposal from the Trudeau government is to make drastic changes to the way that small business is taxed, specifically, Canadian Controlled Private Corporations (CCPC).  I will admit that as a small business owner, there are a number of tax strategies that can be advantageous to the owner, more on this below.  While I’m ...
Posted: Aug 21 2017 @ 3:30 AM
I was speaking to a co-worker recently about some concerns she had about retirement. Since government work isn’t a stable environment right now (at least here in NL), she started to talk about the number of pension contributing years she needs in order to retire.  With a typical defined benefit pension plan (pensions explained), the pension benefit during retirement relies completely on years of service and salary during the final ...
Posted: Aug 14 2017 @ 3:30 AM
Welcome to the Million Dollar Journey August 2017 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 basis. Here is more about him. Profile: Name: SmilingSaver Age: 31 Net Worth: $56,043 Day Job: ...
Posted: Aug 07 2017 @ 3:30 AM
At the beginning of the year, I wrote an article about the Dogs of the TSX also known as the Beating the TSX stock strategy (BTTSX). In this strategy, the largest publicly traded companies in Canada are sorted by dividend yield, then the top 10 positions are purchased annually (remove former income trusts and stocks that have a history of dividend cuts). I wasn’t planning on writing a mid-year update, ...
Posted: Jul 31 2017 @ 3:30 AM
This post was originally posted in 2009, but brought back to the foreground after some readers emailed me about the same topic.  I added a couple of comments below on how my philisophy on this matter has changed over the years. A reader question that I’ve been getting quite a bit lately is, what if you’ve paid off your non-deductible mortgage while implementing the Smith Manoeuvre?  What do you do with ...
Posted: Jul 24 2017 @ 7:30 AM

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