When you decide to help your children achieve their dreams for a successful future, finances play a major part. One way to support your children’s future financially is opening and contributing to, an RESP.
If you are new to investments, an RESP, or Registered Education Savings Plan, is tax-deferred, government-assisted, investment plan designed to help save for a child’s future education. Parents open an RESP for their children’s post-secondary education, but you can still open one for yourself or other adults.
Reasons To Get An RESP
The student will need proof of acceptance from a post-secondary education institution. Once the student has needed documents, money will then be released to pay towards post-secondary fees, costs and education.
Choosing an RESP will give you peace of mind and security, knowing your children’s future education has a good start. An RESP will give them the best start to a successful future.
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