10 reasons to set up an RESP for your child
- 1. Simple to set up, 3 forms includes the government grant paperwork.
- 2. Receive up to $500 per year, contributed every month, from the Federal Government.
- 3. Long Term Stable Growth, with wealth bonuses as the child gets older.
- 4. You can transfer from an existing RESP to an enhanced RESP.
- 5. Education options that are flexible, which even include out of country study, and apprentice programs.
- 6. The money grows TAX FREE.
- 7. An RESP should be integrated with your entire Family Financial Plan.
- 8. Flexible contributions can start small and increase over time.
- 9. Lump sum contributions can be made, such as gifts from Grandparents, Aunts, Uncles or even events such as Baptisms…etc, etc.
- 10. You wont have to exhaust your retirement money when it is time for your child to go to school.