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RESP stands for Registered Education Savings Plan. It is a long-term, tax-advantaged savings plan in Canada designed to help individuals save for a child's post-secondary education, including tuition, books, and living expenses for university, college, trade school, and apprenticeship programs. There is a lifetime contribution limit of $50,000 per beneficiary across all RESPs. There are no annual contribution limits, but contributing strategically (e.g., $2,500 annually) helps maximize governmen

A Registered Education Savings Plan (RESP) is a fantastic way to save for your child’s post-secondary education. Whether it’s trade schools, CEGEPs, colleges, universities, or apprenticeship programs, an RESP has you covered! ✨ When you open an RESP, ask your financial institution to apply on your behalf for benefits like the Canada Learning Bond (CLB) and the Canada Education Savings Grant (CESG). If eligible, these benefits will be added to your RESP to help cover costs like tuition, books, to

The best RESP withdrawal strategies

Understanding the Registered Education Saving Plan (RESP)