Now Offering
In-Person &
Virtual Meetings

Book Now Book Now
×

Registered Education Savings Plan

Registered Education Savings Plan Barrie

RESP’s

Your child’s future is in your hands.

Government Grants Help Save for Education

Darren is a great problem solver who always seems to have my best interest at heart. I wouldn’t hesitate in recommending him to anyone looking for a true professional who knows his stuff.

Kimberlee R.
Barrie, ON

Helping your children or grandchildren with their further education is something everyone hopes to help with. Giving them the extra advantage of post-secondary education opens doors for them like no other. Having an RESP can help you save that money faster for their future.

As an example, if you contribute $2,500 each year to the RESP, you would get a 20% match contribution from the Federal government*- this is a guaranteed return on your investment. Also, you don’t end up paying tax each year on the investment as it grows within itself. When the children are eligible** to receive the money, they pay the tax which is usually at a much lower rate than what you would have paid.

*Up to the maximum Canada Education Savings Grant (CESG) of $7200 for each child available to the end of the year that the child turns 17. There are restrictions in the year that a child turns 16 and 17.

**There are requirements for eligibility for educational assistance payments.

3 Strategies To Speed Up Your Education Fund:

  • Start Early. As soon as a child has a Social Insurance Number, you can open an RESP.
  • Regular payments. Set up regular contributions so you save time and it becomes part of your routine.
  • Focus on less risk and higher returns. Make sure your portfolio is diversified so it meets your personal goals.

Award-Winning Mortgage Service…

Darren has consistently won awards for outstanding service!

× Close this modal popup