Life Stage Investing: New Couple

Jenna is a Registered Nurse and her husband, Donald, is a marketing executive. Like many couples starting life together in their mid-30s, they make good salaries, and have already started saving towards some major goals, like buying a home and starting a family.

However, they don't always agree on financial priorities. Jenna is very cautious, and reluctant to borrow. Since she started working, she's been contributing regularly to a Registered Retirement Savings Plan (RRSP). While her contributions are small, the growing balance gives her peace of mind that she'll be able to achieve her retirement goals. Donald, in contrast, is anxious to buy their first home. Although he agrees it's important to save, he'd like their savings to be easily available for a down payment and future big-ticket purchases like renovations.

Their busy work schedules make it difficult for them to take care of their everyday banking needs, let alone coordinate and plan for their major goals.

One thing they have decided, however, is that Jenna will take care of paying all the household bills - Donald has a tendency to be forgetful and has often been late with bill payments in the past. With a home purchase in their future, they don't want a record of late bill payments to affect their credit rating.

Here's how their CIBC Financial Advisor helped Jenna and Donald begin building towards their long-term financial security together.

Jenna and Donald need:

Their CIBC Financial Advisor suggests:

They'll benefit from:

Help assessing and simplifying their everyday banking, and consolidating their savings strategies

A joint CIBC SmartTM Account
 

A joint CIBC eAdvantageTM Savings Account
 

Mobile banking
 

Regular investment plan

A flexible way to bank that gives them modern and convenient access to their money. It's an account that automatically adjusts to each client's everyday banking activity
 

A dedicated savings account that maximizes their savings with a high interest rate on larger balances
 

Secure banking anytime, anywhere from their smartphones
 

Commitment to building their savings for major purchases, such as their first home

An emergency fund

TFSA Tax Advantage Savings AccountTM
 

CIBC Line of Credit

Increasing their savings with guaranteed interest, tax free, and access to their money any time
 

Convenient access to borrowed funds whenever they need them (up to their credit limit)

Investment strategies to assist their accumulation of savings for future major purchases, such as a home, a cottage or travel, provide tax savings, and build a nest egg for retirement

CIBC Mutual Funds
 

RRSP
 

TFSA

Professional management of assets that helps provide security, income and growth
 

Tax-deductible contributions and long-term, tax-deferred growth

If you are a new couple, or if your children are just starting life with their partners, your CIBC Financial Advisor is ready to help with personalized recommendations. Contact him or her today.