group of happy university students

A Smart head start

Education Savings Planning

A post-secondary education is one of the most important gifts you can give your children. Not only does it provide better career opportunities and self-confidence, it has far reaching economic benefits as well. Yet few families can afford the escalating costs of higher education. You’ll need a sound strategy to pay for your loved ones’ higher education.

One way is to save through a Registered Education Savings Plan (RESP). While you save, the Canadian government will contribute 20% on your first $2,500 of contributions annually through the Canada Education Savings Grant (CESG) to a lifetime maximum of $7,200 per child. Taking advantage of this free money can go a long way toward financing your child’s education. Setting aside even small monthly amounts will translate into substantial savings later on. When your child attends a post-secondary institution, all your contributions are passed on to them tax-free and taxes are paid only on the investment growth and grants (usually at a much lower tax rate).

If your child requires more than what an RESP can provide, a Senior Wealth Advisor can help structure your portfolio for the best possible outcome for your future and your children’s future. 


Start education planning now - See how saving early
can make a significant difference.