Tips For Investing at Every Stage of Your Career
Before making an important investment decision, one might consider a number of factors, including fees, time horizon, risk tolerance, performance, to name a few. Though, less often are people investing according to the stage of their career. Whether you’re a new hire just getting started in your career, a seasoned professional with advanced goals or in a transitional period—it’s important that your investment plan reflects your unique needs and evolving financial capabilities. More importantly, is getting started investing.
The truth is, financial investment is more accessible now than ever before. With tech integration and low-barrier-to-entry options setting a new precedent, generations of Canadians are gaining newfound agency when it comes to saving for their futures. Take RBC InvestEase, for example. The online investing platform where users can sign up, set their goals and delegate the details to a professional portfolio advisor at a low cost. “One of the best times to invest is when you’ve made a change to your financial circumstances,” says Rajan Bansi, co-founder and head of RBC InvestEase. Bansi attests that these periods of change are when clients are best suited to get proactive with their finances. So, regardless of where you are in your career, there’s an option that serves you.
Not sure where you land? Here are three points of reference to help plan your investing approach based on your career stage.
Young professionals: think growth
If you’ve recently graduated and taken on your first full-time role, launched a new business or finally landed that promotion—congratulations! This is a golden opportunity to have an important conversation with yourself about your financial future. “Think about your investment contributions as payments being made to your future self,” says Bansi, adding that “once you’ve established that number, commit to making it a regular, monthly occurrence.”
The biggest advantage at this stage of your career is longevity—starting a plan early helps ensures optimal growth. At RBC InvestEase, clients have the option to customize their monthly contribution limit and set an auto-deposit that makes meeting your goals incredibly low-maintenance. The key is to establish a sustainable commitment. With the details of your portfolio (which may vary by client circumstances) available in full transparency, this plan keeps things simple and informative.
Established in your career? Secure investment milestones with asset allocation
Your investing approach is likely to diversify as you mature in your career. While keeping the long-term plan in sight, weigh-in milestone purchases like real estate or tuition payments. While this happens, refresh your investment contributions to reflect your evolving income and allocate your funds with security in mind. A great way to remain confident during this stage is by connecting with an RBC InvestEase expert portfolio advisor, available at your service.
What about seasoned professionals who haven’t started investing at all? Well, “the answer is simple,” says Bansi. “The best time to plant a tree was 20 years ago, but the second-best time to plant a tree is today—the same goes for investing.”
When transitioning careers or feeling financially vulnerable, plan a course of action
Unexpected job loss, a major change in your career path or taking on an unpaid role can pose a major interruption to your investing plan. The good news is that there are still options to keep up the momentum and remain proactive.
“One of the ways we’ve made investing more accessible is by allowing clients to open an RBC InvestEase account with no money at all,” says Bansi. Opening an account and connecting with a professional is a major first step in planning a course of action. Make deposits of no minimum requirement whenever available—once you’ve acquired a balance of $1002, your funds are ready to invest. Moments of financial turbulence tend to be an opportunity where your priorities become crystal clear and while it may be a difficult chapter, this stage plays a big role in your financial future.
Want another reason to join RBC InvestEase? If you open up your first account today, you won’t need to pay management fees for your first year1. Learn more here.
 To take advantage of this offer you must not have held an RBC InvestEase account prior to April 1, 2021. Accounts opened from April 1, 2021 to May 31, 2021 using promo code AA805 will not be charged the regular 0.5% management fee by RBC InvestEase for 12 months from the date of account opening. RBC InvestEase will notify clients 60 days in advance of any changes to the fees associated with their account as set out in the investment management agreement. A weighted average management expense ratio between 0.11-0.32% will still apply to the ETFs held in our portfolios. This offer cannot be combined with any other offers. RBC InvestEase Inc. reserves the right to amend or withdraw this offer at any time without notice.
 Your money will not be invested until your account balance reaches $100 or more. Small balances (less than $1,500) may be allocated to a Small Balance portfolio that invests in a limited selection of RBC iShares ETFs and/or cash. Our Small Balance portfolios follow similar risk profiles to our Standard Portfolios while investing in fewer RBC iShares ETFs.
RBC InvestEase Inc. provides online discretionary investment management services. Other products and services may be offered by one or more separate corporate entities that are affiliated to RBC InvestEase Inc., including without limitation: Royal Bank of Canada, RBC Direct Investing Inc., RBC Dominion Securities Inc., RBC Global Asset Management Inc., Royal Trust Corporation of Canada and The Royal Trust Company. RBC InvestEase Inc. is a wholly-owned subsidiary of Royal Bank of Canada and uses the business name RBC InvestEase. In addition, the RBC iShares ETFs in which RBC InvestEase Inc. clients invest are managed by BlackRock Asset Management Canada Limited. RBC Global Asset Management Inc. and BlackRock Asset Management Canada Limited have entered into a strategic alliance to bring together their respective ETF products under the RBC iShares ETF brand, and to offer a unified distribution support and service model for RBC iShares ETFs. The services provided by RBC InvestEase are only available in Canada. ®/™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.