Registered Education Savings Plan - An investment that grows as they do
Start saving for a child's education early to take advantage of government grants and compound interest. Use this free calculator to estimate a future post-secondary education cost and see how your planned RESP savings will cover those costs: https://www.getsmarteraboutmoney.ca/calculators/resp-savings-calculator/
Hint: $50 a week can go a long way!
RESP Tip: Grow your savings tax-free!
Want to start a RESP for a child in your life? There is no tax on RESP investment earnings, as long as it stays in the plan until it is used. To learn more about the benefits of a RESP and how to open one, contact us today.
RESP Tip: Friends and family can contribute too!
Anyone can open a RESP account for a child - parents, guardians, grandparents, other relatives or friends. We can help you learn more about giving the gift of education through a registered plan.
RESP Tip: Maximize your contributions by taking advantage of government grants
Each year, the Canada Education Savings Grant (CESG) provides 20 cents on every dollar contributed to a RESP, up to a maximum of $500, on a contribution of $2,500. For more on how to maximize your investments for a child's future, give us a call.