While Christmas planning seems to be full swing, we here at MC Wealth are thinking about other year-end transactions. One of those is topping up for RESP’s (Registered Education Savings Plans).
We encourage you to read up on these valuable savings accounts offered through an RESP. You just may consider opening one for that special child in your life who could benefit from a little financial boost for their post-secondary education. Whether you are a parent, grandparent, aunt/uncle, or even a close friend – consider this a great time to gift an RESP to assist with the increasing expenses of post-secondary education. And did you know? A child can be a beneficiary on more than one RESP (conditions do apply).
Below is a brochure from one of our partner fund companies that talks facts about RESP’s. We think it’s a great informational tool for anyone who wants to know the quick information about RESP’s. Dynamic RESP
We have also included a link to another fund company site, where they have a series of informative articles about RESP’s, speaking to RESP Basics and Maximizing your RESP, to Cashing out an RESP. You can find that link Fidelity RESP.
If you are interested in setting up a new RESP for a child in your life, or if you already have an RESP and would like to do more to maximize your savings, contact us anytime to discuss. The contribution calendar for an RESP is January to December, so if you’d like to make a contribution before the end of 2021, please contact us ASAP.