Registered Education Savings Plan (RESPs)

Make sure your children or grandchildren have the best opportunities.

When you think about your children's future, do you want them to have the tools they need to achieve their greatest potential? Education is one of the greatest gifts you can give your child or grandchild. With an RESP, you can help give them a head start by saving for their post-secondary education.

An RESP, or Registered Education Savings Plan, is a way to save money for your child's education and reduce the financial burden they may experience from taking out student loans. It's a great way to ensure that when the time comes, your child has the resources they are ready to pursue higher education. If you have concerns about how much money your child will need after they graduate from university or college, don't be! We can help you figure out how much money you'll need based on their age and the cost of their education.

There are numerous benefits to putting money into an RESP. The federal government will match 20% of your contributions up to $2500 per year. That means that if you put in $2,500, they'll add another $500! The money you deposit into the account will grow tax-free until it's withdrawn for qualified education expenses. You can open an RESP at any time, but the sooner you do it, the more time you'll have to save, and the more money will be invested in your child's future!

Flourish Financial Solutions can help you get set up with an RESP. We'll ensure your money is safe and growing properly so that when your child is ready for post-secondary school, they'll have all the funds they need to pursue their dreams! We want you to be able to save for your child's education as soon as possible—and we're here to help!