A Registered Education Savings Plan (RESP) is a strategic method to secure funds for your children’s post-secondary education expenses. Yet, what some may overlook is the option to transfer funds from an RESP to a Registered Retirement Savings Plan (RRSP).
A Registered Education Savings Plan (RESP) is a government-supported system designed for systematic contributions towards your child’s education. It enables you and other family members to save effectively while providing access to grants that can enhance your savings.
Navigating the costs of your child’s education in Canada can prove challenging. Given the rising tuition fees and living expenses, it’s crucial to start early and adopt a strategic approach to saving. But what’s the right amount to save?
The Registered Education Savings Plan (RESP) in Canada offers parents and guardians a valuable means to save for their children’s higher education. However, life’s uncertainties may lead to situations where leaving Canada becomes necessary.
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