[twitter]I’ve been depositing into an RESP for my sons since the day Zacharie was born. Those first years we told family and friends to skip presents and we dropped the cash into an account saving for their future. Now, with Zacharie only in Grade 3, we’re putting that compound interest power to work and have a good chunk saved for when the kids move to the next level.
It doesn’t take a lot, just $25 a week, or $25 a month. Just make sure you putting something away and you’ll do your kids’ future some good.
As part of the #RESPwithRBC campaign, RBC hosted a Twitter Party last week and even though I’ve been at it for years, I learned a few new things about RESP planning:
http://twitter.com/RBC_Canada/status/644682500636327936
http://twitter.com/RBC_Canada/status/644678784600379392
http://twitter.com/RBC_Canada/status/644679814641795072
So if Z doesn’t need post secondary, we have a bigger piece saved for Charlie. Should neither of them need it due to self-taught entrpreneurial genius, my own retirement will get to benefit.
Good to know.
If you’ve got kids, you need to get on the RESP train. The day they’re born you can open one and RBC can help with their Grow your RESP with RBC contest where you can win 1 of 4 prizes of $500 towards an RESP!
The big takeaway about RESP planning is that it doesn’t matter how much as much as it matters when. The longer the runway, the more you can earn from interest. So start saving today!
You can learn more about RESP planning at your local RBC branch.
Disclosure: This branded content appears in exchange for a donation to Team Diabetes Canada.