We hope you enjoyed your summer. It was great getting out and seeing each other in person, again. Now school routines are back, summer days are slowly drifting into memories and there is pumpkin spice everything.
With the new school year starting, we want to remind you of a few things that may need to be updated or considered.
As busy parents, just meeting your family's needs each day can eclipse thoughts of the future. Add to that juggling act the cost of running a home, daycare, mortgage and car payments, and it's easy to see how setting funds aside for a child's future education can become something you'll "do later" when you have the time and money.
As the kids head back to school, we have been answering many questions regarding Registered Education Savings Plan (RESP). We believe September is a great time to sit down with your advisor and discuss you RESP goals.
Here are 3 things you should know about RESPs:
RESPs are registered education savings plans 1 that grow tax-deferred until beneficiary withdraws funds for post-secondary education. Students usually pay little or no tax on those funds when withdrawn as RESP contributions are nontaxable and students are at lower income tax rate.
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.
