Money Feels
Money Feels is the new alternative to the personal finance community. We're here to drop the shame, guilt, and judgement so you can learn how to heal your relationship with money alongside your internet besties, hosts, and unfiltered experts — Bridget and Alyssa
Money Feels
57: Everything You Need to Know About RESPs
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Bridget Casey and Alyssa Davies
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Season 6
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Episode 57
A lot of people want to know how to invest in their kids. So, we're diving into the account you need to use, and what to be aware of before you open an RESP in this week's episode of Money Feels!
We're your hosts, Alyssa and Bridget. Welcome to the podcast, where we talk through our money trauma and create a better understanding of building a healthy relationship with finance.
In today's episode, we discuss the following?
- What is the Registered Education Savings Plan (RESP)?
- What is the purpose of the account, the guidelines and need-to-knows?
- What grants are available and how do you optimize them?
- What happens if your child doesn't pursue post-secondary?
- What type of RESP should you open?
- The dangers of the group RESP
- Red flags to watch for when opening an RESP
- How much do you need for your childs' future education?
Resources:
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