{"id":9626,"date":"2019-09-05T12:48:26","date_gmt":"2019-09-05T19:48:26","guid":{"rendered":"https:\/\/crackmacs.ca\/?p=9626"},"modified":"2020-09-27T19:17:29","modified_gmt":"2020-09-28T02:17:29","slug":"resp-information-calgary","status":"publish","type":"post","link":"https:\/\/crackmacs.ca\/?p=9626","title":{"rendered":"Having Kids? Open An RESP Account – Save For Their Future Education"},"content":{"rendered":"

Thinking About Opening An RESP?<\/strong><\/h2>\n

Are you at that age now where you’re thinking about settling down with your spouse and doing some fluid transfers the old fashioned way to make some kids happen? (please tell me you got that reference?) Perhaps you already have kids? Maybe-someday-who-knows? Well, real talk, if you are going to reproduce at some point, set them up for success by opening an RESP account in their name. It’s a special kind of savings account that allows you to contribute money that they themselves will use after high school, plus it comes with a whole number of perks like free money from the federal government! Tax Free savings! More! We opened an RESP for kiddo when she was born and have been contributing to it twice a month ever since.<\/p>\n

Full transparency: this is a sponsored post<\/a>, but 100% our own opinions. RESPs are important.<\/p>\n

\"RESP<\/p>\n

What Exactly Is An RESP?\u00a0<\/b><\/h2>\n

An RESP, or, Registered Education Savings Plan, is an investment into your children’s future, setting aside money for them to use on their education, such as paying for college\/university tuition, apprenticeship programs, books, or other super fun time surprise costs associated with learning.<\/p>\n

You CAN <\/i>open an RESP account with your bank, however that may not always be the best idea. Banks don’t fall under the jurisdiction of the Alberta Insurance Council<\/a>, which regulates insurance\/financial investment products in Alberta to ensure you’re getting the best rates. Whomever you open an RESP with, ensure they’re on the list of accredited insurance agencies in Alberta<\/a> or you might not be getting the best deal. Just make sure to do your due diligence when picking a provider, bank or not.<\/p>\n

What Are The Benefits Of Getting An RESP?<\/b><\/h2>\n

First and foremost, you’re making moves to save money for your child’s education. The importance of how awesome that is cannot be understated. Even if you can’t save hundreds of dollars per month, every little bit counts, and it matters.<\/p>\n