Your child's education
First you were putting on their diapers. Then you walked them to their kindergarten classroom. You helped them with their math homework. You listened to their loud music through the walls. Are you ready for what comes next?
Post-secondary education tuition can cost over $6,000 per year.1 If you have multiple children, you are looking at a lot of money if you are planning on helping them out. How can you make this process easier?
A Registered Education Savings Plan (RESP) is one option.Contributions to these accounts receive a 20% match from the Canadian Education Savings Grant up to $2,500 per year, which is $500 of free money. If your income is low, you can receive a 30-40% match on the first $500. Setting up a trust account is another option to help pay for college.
Saving for Post-secondary education can appear daunting, but it doesn’t have to be. Your financial advisor can help create a road map so you can make progress in steps. Before you know it, your kid will be out of Post-secondary education, and you’ll be putting on diapers again – on your grand kids.
- Educational Savings
- Tax Free Savings Account
- Grandparent Gifts
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Mutual 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 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.