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Registered Education Savings Plan

RESP or Registered Education Savings Plan is an essential program for saving for University and post-secondary school expenses.

I stopped and checked, and I have dedicated a lot of electronic ink on the subject of the Registered Education Savings Plan and specifically my “interactions” with TD and associated Universities over my daughters’ academic careers. While I used the TD Mutual funds, there are many other better ways to do this. For anyone planning on sending their children to a post-secondary school, the RESP is an essential financial tool.

This is free money folks, why you would not want to have it, is beyond me.

RESP Piggy Bank

RESP Withdrawal Fees: Why You Might Pay to Get Your Own Money

Withdrawing funds from a Canadian RESP should be simple, but hidden fees from universities can catch parents off guard. While RESPs are designed to support education, some institutions charge a fee just to provide the confirmation letter needed by banks to release the funds. This outdated and frustrating process adds unexpected costs and delays to an otherwise beneficial savings tool. In this article, we explore the hurdles families face when trying to access RESP funds, the lesser-known quirks of RESP withdrawals, and how to minimize the impact of admin fees on your education savings. Learn what has changed since 2010 and how to prepare for a smoother RESP experience today.

University of Waterloo

Random Thoughts: Universities and RESPs

Back in 2010 I had many kids returning to University, here are some helpful RESP hints on how to deal with the system. Universities are expensive.

RESP

RESP Wrinkles

Last week I read a good post about 8 Things You Need to Know about Withdrawing Money From your RESP Account but it really didn’t sink in until this week when I started trying to… Read More »RESP Wrinkles

crop man getting dollars from wallet

Random Thoughts: Big Wallets & Free Chequing

Do you have a big wallet ? What is it full of? Cash, Credit Cards, Receipts, or maybe all of that and maybe even some Splenda?

Welcome to the 2nd Half of the Year!

Yes folks, the second half of the year is already almost a week old, astounding isn’t it? What have you done so far financially this  year? Have you reached your goals, or are you on… Read More »Welcome to the 2nd Half of the Year!

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