REGISTERED EDUCATION SAVINGS PLAN
A Registered Education Savings Plan, or RESP, is a government registered savings plan for higher education. The government gives free grant money as an incentive to save. Investments are grown tax sheltered thus interest can compound exponentially.
For as little as $25/month, you can make a big different in a child's life. There are many options to choose from. Let us help and educate you to achieve a good cause.
Benefits of RESP
Governments offer grants to help and encourage you to save for higher education. They match 20% of the first $2,500 contributions in a year.
Investments grow tax sheltered. Only grants and total interest are taxed when the child withdraws for school. Many students have little of no other income, so they usually withdraw the money tax-free.
The sooner you start, the more you save
With only a Social Insurance Number required for the child, you can start saving for their future. Saving early gives you the advantage of maximizing government grants and compounding interest growth.