As a parent, the decision to have an RESP for your child is as close to a no-brainer as you can get. You’re saving for your education while also taking advantage of government grants that can give you up to $7,200 in free money.
Beware the Group RESP
Group RESP plans charge extremely high fees for, well, not much to be honest. Banks can charge account opening and administrative fees too.
Worse, if you miss a single Group RESP payment, even by accident, they can charge penalties and take all of your investment gains and grants. Yeah, we think it’s a really crummy thing to do too.
Thankfully, there’s a better way to get all the benefits of an RESP without any of the pitfalls.
Planswell to the rescue!
There’s another bonus with Planswell, You’ll get a complete financial plan that’ll help you get your kids off to university without sacrificing your lifestyle.
Sounds like a big deal right? Well, it only takes 2-5 minutes to complete a plan, and it’s completely free. So what are you waiting for? Build your plan right now.
With a Planswell RESP you get:
No account fees
Up to $7,200 in government grants
“Setting up an RESP for Henry was really important to us. Planswell made a great recommendation. It was all incredibly easy and clear.”
Olivia, Customer since 2017