Tag Archives: resp

RESPs, How do they work?

 

If your goal is to save to help a child get an advanced education, there is no better method than the RESP.

 

The RESP, or Registered Education Savings Plan, is a tax-deferred investment account that the government will deposit grants into based on your contributions and income.

 

 

That sounds great, but it may not make sense to everyone, so I’ll explain it a bit better.

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