There are few more exciting (or expensive) moments for parents than watching their children enter post-secondary education. And for many Canadians, there’s no greater way to prepare for that milestone than by investing in a Registered Education Savings Plan (RESP), a long-term savings model to store funds for schooling tax-free.
No matter the size of your contributions, a mature RESP can be part of a strong financial plan for aspiring students, helping them handle tuition fees and other assorted campus costs while working towards their degrees and certificates. The government is also standing by to put some money in the pot to incentivize your investment, so starting an RESP is extra beneficial for your kids.
In partnership with Fidelity Investments, we asked one Canadian family how RESPs supported their children’s school plans, not to mention cut down the costs of higher education.
A guaranteed, tax-free investment
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