Invest in RESP to provide quality education to your child

Education can be expensive, sometimes saving money for years may not be enough to fund your child’s education. Investing in a Registered Education Savings Plan (RESP) is an ideal way to save for your child’s post-secondary education. You can contribute a maximum of $50,000, this money grows tax-free as long as it stays in the plan. This investment is also tax deferred. You can rely on our team to help you invest in the right RESP plan.

Get a social insurance number for your child
A social insurance number is essential to open an RESP account. This number can be used by your child later in life when he/ she applies for a job, credit card and more.

Select the right RESP

It is essential that you choose the right type of RESP. You can open an RESP at a bank, a credit union, a mutual fund company or by an investment dealer. You can discuss your requirements with your agents and they will suggest a suitable plan for you.

Learn about the different types of RESPs
A social insurance number is essential to open an RESP account. This number can be used by your child later in life when he/ she applies for a job, credit card and more.

Select the right RESP

  • Weigh the pros and cons of each type of RESP
  • Learn about the different types of RESPs

It is essential that you choose the right type of RESP. You can open an RESP at a bank, a credit union, a mutual fund company or by an investment dealer. You can discuss your requirements with your agents and they will suggest a suitable plan for you.

There are three types of RESPs individual, family and group. An individual plan can help you pay for the only child’s education. You can opt for a family or group plan if you have another child.

Before investing in an RESP, it is important that you weigh all the pros and cons. Please note that individual and family plans work for parents and guardians who want control over their investment. These plans provide you the flexibility to choose from a variety of investment options such as savings accounts, GICs, mutual funds, stocks, and more.

Please note that RESP account can be opened by parents, grandparents, other family members and friends. It can be opened by one person, or opened jointly by spouses or grandparents. You can name yourself or another adult as the beneficiary.

If you need more information about how to open a RESP account or would like to speak to a member of our team to book an appointment.