Find out the steps to help your child go to College or University with an RESP
Help Your Child Go to College or University With an RESP – REGISTERED EDUCATION SAVINGS PLAN
- START EARLY – Utilize the power of compounding
- CONTRIBUTE REGULARLY – Invest the money before you spend it
- GOVERNMENT GRANTS – Gov’t match of 20% with a maximum of $500/year
- TAX DEFERRED – Pay tax only when money is taken out
START EARLY
Investing early and consistently (even a little), gives you more time to grow and offers you the best chance to meet your savings needs
CONTRIBUTE REGULARLY
Allows you to spread your risk overtime, reduces you investment costs and reduces the effects of short term volatility on your investment portfolio
GOVERNMENT GRANTS
The Basic Canada Education Savings Grant (CESG), will give you 20% on every dollar of the first $2,500 you save in your child’s RESP each year
TAX DEFERRED
Investment earnings that accumulate tax free until the investor/beneficiary withdraws and takes possession of them
On my website, there is an RESP calculator which can help guide you through the process. If you have any questions, feel free to contact me at anytime. I live in Milton with my wife (who is a momstown milton member), and two daughters
Mark Ritcey B.Sc.
905-926-0031
