Save for their futures
When parents open an RESP for their children, the accounts attract a lot of federal and provincial grant money. Opening an RESP for your child(ren) is as easy as meeting with a qualified financial advisor. Don't wait to do this…the sooner you start, the better the outcome.
RESP accounts allow parents to save for their children's post-secondary education. This might include trade or vocational school, university, college or other programs.
Both the Government of Canada and the Government of British Columbia will contribute to your RESP account. All you have to do is open one. Your financial advisor will do the paperwork for you, applying for any grant money for which you are eligible.
If you already have a financial advisor, contact them to inquire about beginning an RESP for your child(ren). The BVCS community has several financial advisors:
- Kelly Jones at Investor's Group
- Kevin Huisman at Edward Jones
- Trever Morris at Sun Life Financial
- Tim Veenstra at Bulkley Valley Financial Services
More information about RESP accounts is available from these advisors.
RDSP (Registered Disability Savings Accounts)
If you have a child with a disability for which you claim the Disability Tax Credit, you should inquire with your financial advisor about the RDSP. These accounts are eligible for up to 300% in matched government funds, depending on your family income. The potential for RDSPs to accumulate very significant amounts of money for the future care of your disabled child is incredible. Contact a financial advisor today.