An RESP will help you save up to $50,000 for your child’s post-secondary education.
Because it’s tax sheltered, any investment growth your money earns will be tax-deferred until your child withdraws it – likely at a lower tax rate.
Enjoy the benefits of an RESP
- Grow your money faster – Because your RESP is tax-sheltered, the investment earnings will grow untouched until they’re withdrawn.
- Less tax when withdrawn – When your child begins to withdraw funds for their education, they’ll likely have little income and pay less tax.
- Benefit from government grants — The federal and provincial government offer grants to boost your child’s education savings. Speak to us to learn more.
- Anyone can contribute — Grandparents, aunties, uncles and even friends can add to your child’s savings.
Take advantage of tax-free savings
Whether you’re saving for a new car, a dream vacation or another goal entirely, a tax-free savings account (TFSA) will help you get there faster.
Ready to put the power of tax-sheltered saving to work for your child’s future?
Get in touch with our financial advisor, Jason Truscott, for more information and to get set up.
Phone: 250.428.0606
Toll Free: 1.877.402.6505
See how contributing to an RESP, combined with government grants, will help set your child up for success.
Get in touch! We’ll be happy to help review your options and determine if an RESP is right for your goals.
Whatever your family’s goals, our expert planners at Growth Financial will help create a bulletproof plan to reach them.
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