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BMO Nesbitt Burns
132 Trafalgar Road
Oakville, ON
L6J 3G5

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LifeStages 1

A guide to financial planning for every stage of life - specifically designed for women.

LifeStages identifies key investment issues and challenges for each of life's five financial stages. Going forward I will highlight each stage with a brief case history designed to help you to better understand sound financial planning principles. Please check back often to review each stage.

LifeStage 1 (ages 18-29): Early Adulthood

Case Study: Suzanne
Suzanne is a 24-year-old university graduate who recently landed the job of her dreams at an advertising agency. Just two years out of school, she’s excited about the new opportunity – and at the prospect of a stable $35,000 annual income. Suzanne lives alone in a one-bedroom apartment; but is engaged to be married next year. Until now, she hadn’t really thought much about long-term financial goals. She has been treating herself to the 'necessities' of life courtesy of her credit card, but her spending isn’t completely out of hand. Still, with upcoming wedding expenses, she doesn’t want any unnecessary monthly payments. After all, she has big dreams for the future: a house, a new car and a comfortable retirement in 30 years or so!

LifeStage 1 is the best time take to advantage of a Registered Retirement Savings Plan (RRSP) for long-term growth. An RRSP offers the benefit of tax-sheltered compounding (and you get a tax refund after each contribution!). You can also carry deductions forward to future years when your taxable income will be higher. I can help you take advantage of this proven process.

Investment Planning Goals
I can help you select appropriate investments based on the following criteria: Short-term investments: liquidity, stability of principal, current income. Long-term investments: capital growth.

Things to Consider
LifeStage 1 is the time to establish good money-management habits. Your basic approach during this period can set the pace for the rest of your life, so it’s important to start smart. There are dramatic, long-term benefits when you begin investing in your 20s. Here are some things to consider

* Fictional characters. Any similarities between them and actual clients of BMO Nesbitt Burns Inc. are accidental.