Everything you need to know about investing in an RESP. We can help.
RESPs also known as the Registered Education Savings Plan helps you save for your child's post-secondary education. An RESP can help you tide over the rising costs associated with a college or university degree for your child. Plus, government grants also provide relief while the savings grow tax-deferred until withdrawn.
Start saving early: We recommend that you begin saving early in your child’s RESP. You can also take the benefit of the various grants that the government provides.
Contribute to RESP regularly: Your contributions accumulate over time and the grants also will grow as part of your investments. Plus, your RESP contributions growth is 100% tax-free.
Benefit in the long run: In the long-term, your contributions are given back to your child’s qualified college and university education for Canadian universities and some international educational institutions. The total interest from the RESP is also added to the government grant to pay for college or university.
How we can help: At LifePlan, our Advisers can help you with more savings, more flexibility and more possibilities. This means, you contribute the amount you want when you want and have access to advantageous investment options to help you save more.
Our qualified consultants will take the time to review your current investment account and see if your investments holding have the right asset allocation and are managed according to your risk tolerance.