How an investment expert plans for rising education costs

Here are three reasons why you should listen to this episode: Learn how to approach saving for future education as a long-term goal, and with an investor mindset. Learn how to build a resilient RESP investment strategy that adapts to market shifts, and discover investment solutions designed to evolve with your child’s age. Gain insights into how to build financial literacy with your children and family, so you can work together to achieve your long-term education planning goals. Resources CIBC's "Smart Advice" Podcast and Website Visit CIBC for more Smart Advice Michael Keaveny: LinkedIn CIBC Education Portfolios CIBC Registered Education Savings Plan Calculator Canada Education Savings Grant Canada Learning Bond Episode Highlights [00:21] The Rising Need for Early Education Planning Education has become one of the most significant financial milestones for Canadian families. The challenge of covering post-secondary costs is growing rapidly, with projected expenses expected to exceed $100,000 for today’s children. Carissa Lucreziano welcomes Michael Keaveney, Vice President of Managed Solutions at CIBC Asset Management, to explore how families can financially prepare. With decades of investment experience and a personal understanding of education planning, Michael offers strategies grounded in both data and lived insight. [03:02] Starting Early: Why Time is Your Greatest Asset Saving for education can feel overwhelming, especially alongside other priorities like mortgages and retirement. Yet starting early and contributing consistently can dramatically shift what’s possible through the power of compounding. [04:14] Michael: “Those two things, starting early and having a regular investment plan are actually behaviors within your control, and focusing on what's in your control, is central to any investment strategy.” Michael explains how automatic, regular investments help parents stay on track and reduce future financial stress. Early action builds both savings and financial flexibility as your child’s path evolves. [07:32] Building a Resilient RESP Strategy Market volatility can make education investors second-guess their decisions, especially during uncertain times. [08:56] Michael: “You do get periodic spikes in volatility in the market for various and different reasons, but we know that if you take a longer-term timeframe, the market bounces back and goes on to new highs.” But staying invested over the long term remains one of the most effective ways to reach savings goals. Michael shares his own experience of riding out major market downturns and stresses the importance of adjusting risk as the goal gets closer. Carissa adds that a resilient strategy includes knowing when to shift from growth to stability. [11:03] Understanding CIBC's Education Portfolios Education timelines require unique investment strategies that evolve with a child’s age. CIBC Education Portfolios are designed to shift automatically, from equities to bonds, as the target date approaches. Michael explains how these portfolios offer a built-in glide path, helping parents stay aligned with their child’s educational timeline without constant rebalancing. Carissa notes how this reduces guesswork and supports parents who prefer a hands-off yet intentional approach. [17:45] Teaching Kids Financial Resilience Through Savings Education planning isn’t just about money, but it’s an opportunity to teach lasting financial habits. [18:08] Michael: “I think it's entirely appropriate and a good idea for children to learn that the money didn't fall out of the sky. That a plan was put together, a conscious choice was made, maybe even at the expense of other options, and that the plan continues to be monitored.” Bringing children into the savings journey can build their confidence, agency, and understanding of long-term goals. Michael suggests giving children the chance to contribute, even in small ways, to foster ownership and awareness. Carissa shares how celebrating mi