A Registered Education Savings Plan (RESP) is a tax-deferred investment account that allows families to save for their children’s post-secondary education.
The account grows tax-free until the child withdraws the money to pay for various expenses associated with attending any qualified post-secondary program.
RESPs can be opened as soon as the child is born and the best part is the government offers a series of grants to match contributions up to a certain annual limit.
Watch this video to learn more.
