Welcome to my Registered Education Savings Plan (RESP) learning center. The goal of a RESP is pretty clear but the rules surrounding the Registered Education Savings Plan are not as obvious. If you have looked on the Canadian government website, you will attest that the information is simplistic in nature. In fact, you have to do some good digging to find the details.
I have an family RESP account for my children and I am actively investing every year to leverage the benefits. Just like many parents, I have not been able to make the maximum contributions every year, but I do my best to prioritize.
RESP Research
- RESP Strategy – Find out what you need to plan for when it comes to your RESPs. Which investments are best suited and what ratio should they be.
- RESP Explained - Learn the details of a RESP. Find our what account is appropriate for you
- RESP or No RESP? – Learn what the best account to provide for an education is.
RESP Awareness
Make sure you do your research about Canadian Scholarship Trust Plan (C.S.T.) before you sign up. They will know that you are expecting and having a baby (since it’s public record) and the plan may not be for you. Make sure you are aware of what the plan provides you in all situations for your child’s paths. Make sure to also discuss the penalties for cancelling the plan.
