For those of you not old enough to remember “… the biggest market crash since 1929 …”, which occurred on Monday October 19th 1987, dubbed Black Monday (no not when Rick Monday hit the home-run… Read More »Happy Anniversary Black Monday the Market Crash of 1987
Can you ever write too much about RESP, Registered Education Savings Plans? I don’t think so, that is for sure.
Understand the interest rates in Octber 2010, in Canada and their impact on debt and savings amidst economic concerns.
If you’re planning to save for your child’s post-secondary education in Canada, this personal account of RESP lessons learned is a must-read. Written after navigating the RESP withdrawal process, the article shares practical tips for maximizing CESG benefits and minimizing taxes by withdrawing the taxable portions first. It includes candid insights on working with TD Mutual Funds versus TD Waterhouse, and why the author prefers the latter for RESP investing. The post also highlights the need for better automation in fund redemptions and encourages parents to continually educate themselves on RESP rules and structure. Whether you’re just opening an RESP or preparing for withdrawals, this article offers valuable advice from lived experience.
How easy is it to Cash out parts of an RESP? Cashing out can be straight forward, but you will need supporting documentation.
