The Registered Education Savings Plan (RESP) is an investment program where the Government matches 20% of your contributions. You could even qualify for additional Grants based on your family income. There\u2019s also the Canada Learning Bond where the Government offers up to $500 for low-income families.<\/p>
Start Early<\/strong><\/p> Families with young children can benefit the most from the RESP. That\u2019s because they will have more time to qualify for Government Grants, which can be maximized by contributing to the RESP each year. Don\u2019t worry! If you miss a year, you can catch up for one year at a time.<\/p> Family Time<\/strong><\/p> If you have more than one child, you can open a Family RESP. It allows you to keep your savings in a single account, it simplifies managing the investments, and if one child doesn\u2019t go to school, a sibling can use their Government Grant money without penalty (up to a maximum of $7,200 per child).<\/p> Paying for Education<\/strong><\/p> Most post-secondary programs qualify for educational withdrawals: academic programs, skilled trade programs, full-time programs and part-time programs. Studying abroad also qualifies!<\/p> Top Up<\/strong><\/p> If you haven\u2019t yet maximized your RESP contribution for the year, you can still make a deposit before the end of December. I can help you calculate the optimal amount to contribute for this year, or as a regular monthly deposit.<\/p> I specialize in emergency medical travel insurance for Visitors to Canada & Supervisa! Visit my website to learn more & get instant quotes on\u00a0<\/em>Super Visa<\/em><\/a>\u00a0&\u00a0Visitor insurance<\/a><\/em><\/strong><\/span>. I am always happy to provide free, no-obligation insurance quotes, consultation, or second opinion. Please feel free to reach out!<\/em><\/p> <\/p>\n [\/fusion_text][\/fusion_builder_column][\/fusion_builder_row][\/fusion_builder_container]<\/p>Let me help you get the most government money that your child qualifies for.<\/strong><\/h3>
<\/div>Swinder Jodhka<\/h3>
416-825-3091<\/h3>
Broker, SSJ Financial Services<\/h3><\/p>\n\n\n