An everlasting gift for a young person is an investment in their education. A grandparent sometimes struggles with what to give for gifts at Christmas and birthdays. A gift that makes a true difference in the future of the grandchild and their family is an RESP (registered education savings plan) one time contribution or ongoing monthly contribution plan.
The cost of education is high. An RESP can be used for educational places including university, community college and many others. It is flexible too. Helping out with these growing costs can reduces the need for student loans and gives a needed boost!
Whether or not the grandchild has an existing RESP plan, most families do not contribute the maximum anyway. Setting up an additional RESP plan where you, as the grandparent, are the owner and the grandchild is the beneficiary gives control to you. Grandparent clients of mine have done this and there is great satisfaction. There is not a lot of hassle either in setting up a plan. We take care it. Remember, in addition to your contributions and potential growth, the federal government puts in 20% of your contributions as well!
We can make this happen. Let us know if you have questions or if you would like to schedule an appointment, 902-404-8410 or firstname.lastname@example.org