Why Should You Choose an RESP Over a TFSA?
Putting children through university or college can be expensive. If you don’t plan ahead of time, the expenses for their post-secondary education (PSE) could be crippling. Fortunately, the Canadian government provides help through the Registered Education Savings Plan (RESP). Another avenue you can take to help save money for their PSE is through a Tax-Free Savings Account (TFSA).
Global RESP Corporation (GRESP) is pleased to announce the winner of the second quarter RESP Contest: Sarthak Uperty from Brampton, Ontario! His father, Chinta Uperty, entered him into the contest for a chance to win a Global Education Savings Plan worth up to $5,000.
For some people, it’s easy to set aside money for a short-term goal like a summer vacation. But saving for your child’s education fund, which may not be used for another 18 years, can seem downright impossible.