One of the best ways to save for your kids
and their future is through the RESP – Registered Education Savings Plan. Today, we are going to talk about what is
an RESP, benefits of an RESP, I will also walk you through couple of examples, then
I am going to show you the most tax efficient way of withdrawing money from RESP account,
and then at the end talk about some important things for you to consider. Usually, when kids are ready for post secondary
education, be it – College or University, its either the parents that have to come up
with the necessary funds to pay for the tuition or students have to take out a loan and graduate
with substantial debt. RESP can help solve both of these problems.