Friday, September 25, 2015 AnnMarie Brown 0 Comments

On September 17, 2015, I attended a twitter party about RESPs where I could ask any question I wanted and get them answered by RBC. 

The questions I have always had was what if my child chooses not to go to post secondary education and I have invested in RESPs for them. This question was asked by many and did you know that the RESP remains open for 36 years  - you could transfer it to a sibling but for us our youngest is the only one who hasn't been to university yet so transferring it to a sibling is not an option but I was pleased to discover that at the time of cancellation you can roll it over to a RRSP. 

Check out the image above and see how quickly $25 a week can grow for your child. To learn more visit: http://www.rbcroyalbank.com/save-regularly/resp.html

I live in a area where many families are struggling to make ends meet and there is no way they contribute on a weekly basis to a RESP for their child. Did you know some low income families may qualify for up to an additional $2,000 without ever having to contribute. 

I am all for staying on budget when it comes to money matters but knowing I have the security of helping my child attain their dreams in life just warms my heart. Don't forget that they government will give you 20% of your contribution up to a maximum of $1000. Yes you read that right they are wiling to give you free money to help your child do their post secondary education. 


Be sure to check out the:

Grow your RESP with RBC Contest
 Participants have a chance to win 
1 of 4 prizes of $500
 to put towards their won RESP. 

 Contest ends October 4, 2015.

You don't have to take my word on any of this you can go to your local RBC Branch or visit there website to learn more about RESPs.

Disclosure: I am part of the RBC RESP blogger program with Influence Central and I receive special perks as part of my affiliation with this group. The opinions on this blog are my own.

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