RESPs Advice & Management in Surrey & Greater Vancouver

In Canada, an RESP is a Registered Education Savings Plan. An RESP is designed to allow parents to save money for their children’s education after high school. Money that is saved within an RESP can grow in a tax-sheltered environment. The tax deferment allows money to grow faster than it would in a regular account.

RESPs are fairly complicated, and there are many rules governing how they work, how they are to be administered, how money can or cannot be invested within them, as well as tax implications. Because of this, it is useful to have a trusted financial advisor like 6AA Financial to help you design and implement an RESP.

Reap the Benefits of RESPs With 6AA Financial

By having a knowledgeable financial advisor, you will not have to worry about all the rules and regulations concerning RESPs, and your advisor can make your life easier. Your advisor will help to design a strategy for your RESP, whether you have one or several children. In addition, the advisor will understand the different types of RESPs and which investments are allowable.

The benefit of the advisor is that he or she will know the financial instruments you can invest in within the RESP and help you pick what will perform well over time. Your best chance for a high-performing RESP is to use a trusted financial advisor to help you choose not just the investments but how much and how often you should be investing and what type of account you need.

If you are interested in opening an RESP for your children, contact 6AA Financial, and let us help you achieve your financial goals.