RESP Investments

Grow Your RESP Faster
Registered Education Savings Plans enable you to save for the post-secondary education of your children or grandchildren. As a result, your savings grow faster because of government incentives. There is a contract between a person (the subscriber) and a person or business (the RESP provider). Tax-free revenues are generated by the membership.

Canadian government partially funds a child’s future education with the RESP, a tax-advantaged savings plan. RESPs can be funded by the Canada Education Savings Grant, and the money saved in these accounts grows tax-free.

Key Benefits Of RESPs:

    ● You benefit from free government money.
    ● The RESP withdrawal can be taxed according to your child’s tax bracket
    ● The RESP savings are spent on various educational plans and institutions.
    ● Anyone can contribute to a child’s RESP savings account.

RESP Savings Plan

In most registered education savings plans, the beneficiary, promoter, and subscriber are involved.

Subscriber: Generally, a subscriber is a person who opens and funds an RESP account.

Beneficiary: Contributions made to help with education costs will benefit the child.

Promoter: Credit unions, banks or group scholarship providers provide RESPs.

Secure Your Savings With RESP Grants

• Growth in savings is tax-free.
• Your child’s RESP will receive better grants.
• It is not tax-deductible to receive financial aid for education.
• GICs, equities, mutual funds, bonds, and ETFs are among the investment options available to subscribers.
• Seek your family or friends help.

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