A tale of 4 RESPs
Updated: May 6
Most individuals saving for their child's post-secondary education will do a standard deposit up to $2,500 per child per year to get the maximum annual 20% Canada Education Savings Grant ($500). Unfortunately, doing ONLY that is usually not enough to cover post secondary education.
Let's step back and review RESP basics. Slide, please!
Sidebar: Important to note that there is a lifetime maximum contribution of $50,000 per child. This is something that most people don't take full advantage of, or even know about.