It’s never too early to start saving for your child’s post-secondary education! Opening a Registered Education Savings Plan (RESP) gives you one less thing to worry about for your child's future.
RESPs can be invested in mutual funds offered through Credential Asset Management Inc. and Credential Securities, or in guaranteed investments available through Concentra®. No matter where you put your RESP it’s a perfect chance to build a bright future for your child and receive government help along the way.
Government money can help jumpstart your RESP savings:
The investment grows tax-free until your child starts their post-secondary education and begins making withdrawals.
Contribute a lifetime limit of $50,000 per beneficiary.
Withdrawals of the government contributions and accumulated earnings from an RESP will count as taxable income for your child, but as a student, they’ll be charged little or no tax.
No minimum contributions.
Anyone can open an RESP for a child – making it a great gift option!
See how quickly your child’s educational savings can grow with our calculator.
Let us help you decide which plan is right for you: an Individual RESP versus a Family RESP. Plus, find out how you can maximize the benefits of your RESP and what to do if your child decides to not attend school after high school.
Start or move your RESP today by contacting an Affinity advisor at 1.866.863.6237, take the virtual route by opening an RESP online through our partners, Qtrade or VirtualWealth or book an appointment online!
Online brokerage services are offered through Qtrade Investor, a division of Credential Qtrade Securities Inc. Mutual funds, other securities and securities related financial planning services are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.
VirtualWealth is a trade name of Credential Qtrade Securities Inc.