RESP

With my oldest child turning 11 this year, my mindset and strategy for our family RESP is starting to shift from accumulation and growth to a more balanced portfolio. This has many similarities to retirement planning but on a smaller scale. In your younger years, there is a focus on growth, but as retirement approaches,…

A friend of mine, Gary, recently asked me about registered education savings plans (RESPs) and if it’s too late to get started. Gary’s kids are 14 and 12, and while a bit late in the game, there is still time to take advantage of free government money. What is an RESP? An RESP stands for…

I recently received a reader question about how to effectively use GIC’s with RESP withdrawals.  I have a question in regards to moving funds towards GIC’s. My son turns 17 later this month and his RESP portfolio has $70k. This month I would like to start moving funds into Money Market Fund and GICs. While…

It has been about a year since my last RESP portfolio update which is probably an appropriate time span since it’s a fairly steady portfolio that is 100% indexed.  2018 was certainly a test for equity portfolios and although stocks were pounded, these indexed RESP accounts performed a little better than I expected. The RESP portfolios for…

A reader left a comment asking if our financial freedom income goal would be enough to cover post-secondary education costs for our children.  The simple answer is yes, but not through excess passive income, but through some planning and investing when the kids were born. While I believe that there is merit in having children…

It has been about a year since my last RESP portfolio update which is probably an appropriate time span since it’s a fairly steady portfolio that is 100% indexed. The RESP portfolios for our children are set up with TD e-Series mutual funds which provide a low-cost way to index the market (some other ways to index your portfolio). …

It has been about a year since my last RESP portfolio update which is probably an appropriate time span since it’s a fairly steady portfolio that is 100% indexed. The RESP portfolios for our children are setup with TD e-Series mutual funds which provide a low cost way to index the market.  We contribute $2,500/account/year to…