RESPs Part 4: Withdrawing Funds

The whole purpose of setting up the RESP in the first place is to fund your own or your children’s education. One of the major benefits of investing inside an RESP is that the funds get to grow tax free. However, unlike the RRSP account, contributions don’t get a tax refund. That makes the RESP account special…

RESPs Part 3: Understanding Subscriber and Beneficiary

One of the biggest unknowns when starting up an RESP is whether or not the child will actually go on to post secondary school. Perhaps the child will become a prodigy like Bill Gates and invent something out of the garage. Or perhaps they will become a superstar athlete and forgo the standard education. What…

RESPs Part 2: Take Advantage of Government Grants

After reading the first article on RESPs, you should be fully aware of the potential that an RESP has towards saving for your child’s education. No doubt if you’ve decided to through the route of setting up an RESP, you’re looking to capitalize on the numerous grants that the Canadian or Provincial governments offer. The…

RESPs Part 1: Saving For Your Child’s Education

Having a child with your significant other can be the most joyous experience that you can possibly have. It’s also no doubt that parents always want to have what’s best for their child. One such aspect is the notion of getting the best education possible. In today’s competitive environment where jobs are scarce, education, to some,…