A Registered Education Savings Plan (RESP) is a tax-advantaged investment account designed to help families save for a child’s post-secondary education.
While contributions are not tax-deductible, investment growth inside the RESP grows tax-deferred, meaning you won’t pay tax on earnings until funds are withdrawn for educational use. In addition, the government helps boost savings through grants, making a RESP one of the most effective ways to fund a future education.
In summary, you can open a RESP to support your child’s future education while benefiting from government incentives and tax-efficient growth.
Whether you’re planning early or catching up later, structured RESP contributions can significantly reduce the financial burden of post-secondary education, making it part of an ideal financial planning strategy for families who dream of a big, stress-free future for their children.
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Paulo Sergio Moulatlet, CFP
Investment Funds Advisor, Investia Financial Services Inc.
Life Insurance Advisor
Mutual funds, exempt market products and exchange traded funds are offered through Investia Financial Services Inc. The particulars contained herein were obtained from sources which we believe reliable but are not guaranteed by us and may be incomplete. The opinions expressed on this website have not been approved by and are not those of Investia Financial Services Inc. This website is not deemed to be used as a solicitation in a jurisdiction where this Investia representative is not registered.
