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.