Education is becoming expensive! Are you prepared to provide everything your child may need to achieve their dreams? Have you signed up for a RESP yet?

A registered education savings plan is a great way to ensure that your child never stops on the path to their dreams because of finances! Saving for their future gives both them and you the chance to live freely in your present!

This plan was a scheme started by the government of Canada to propagate education in the country. It has given a lot of people the chance to achieve their dreams without having to constantly worry about where the money will come from!

The RESP can even be started by doting grandparents who want to ensure that their grandchildren have a secure future. This allows more investment to come through and more savings to develop!

Start a RESP for your child or grandchild with Harpreet Puri! Contact to get the best!

5 tips to get the most out of RESP:

• Find out about all the government grants
• Get your family to contribute
• Make the plan as flexible as possible
• Give thought to who the subscriber should be
• Open different plans for children with vast age differences

You can get free money if you use the grants carefully. The Canada Learning Bond can help you access some easy money with the help of your RESP. There are many government grants available for you to make use of and proper research with the help of a guide, can help you save more money!

RESP has a limit of $2500 for a year. You can ask your family members to contribute if you are unable to do so yourself to meet the limit and get a return of almost 20% on this! This can help you make the RESP grow as well as tap into a great mine of potential money!

It is important to understand that our children are still growing, and their dreams and goals may not be the same at the time of the usage as they were when you first created the plan. Making the plan flexible enough to be used in any way your child wants can help them to really go after their dreams and also help you make full use of the plan!

The subscriber is the person who invests the money and is also the receiver of the benefits of the RESP. It is important to give a good thought on who this member should be. A RESP can stay open for around 35 years and if the subscriber reaches the upper age limit of 71, they will not be able to get the benefits.

The subscriber should be the youngest parent as it can allow the RESP to stay open for longer and for the money to actually be used well. If you want, you can add a beneficiary to this plan in your will. A RESP does not provide any option to appoint a successor directly.

If you have children having a large number of years between them, you could consider opening different plans for them as the age difference could hamper them receiving the full benefits of the plan.

RESP can help your children achieve their dreams! Make their decisions tension free with Harpreet Puri!