RESP in Canada: How Does RESP Work?

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Considering opening an RESP? Opening an RESP in Canada is one of the best savings vehicles available to help parents pay for their child’s post-secondary education. However, there are rules! Read on for our RESP 101 guide.

The “new normal” of COVID-19 makes it difficult to focus on anything but the here and now — especially if you have young children at home. So, it’s understandable if saving for your kids’ future education is not top of mind. Thankfully, there is a simple tool to help you get started, called a Registered Education Savings Plan (RESP). And (bonus!) it also includes free money from the government.

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Original Article Source Credits:    Young And Thrifty ,

Article Written By:  Tamar Satov

Original Article Posted on:  June 12, 2020

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