RESP in Canada: How Does RESP Work?
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.
Original Article Source Credits: Young And Thrifty , https://youngandthrifty.ca/
Article Written By: Tamar Satov
Original Article Posted on: June 12, 2020
Link to Original Article: https://youngandthrifty.ca/resp-canada-how-does-resp-work/
