Canada RESP Experience
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The obviously benefit to starting when they are young is you can have that money invested and it has time to not only grow though compound interest, but also get some market gains. Now is a great time to start
We did ours through wealth simple. It is a managed account so you can't actually pick and choose what to do with the money and it is typically a low risk account. The bank will take a larger percentage which is why we went with wealth simple. Jodie is correct that you get 500$ every year if you put in 2500$. There is an additional grant if you are lower income. There is no maximum contribution just a minimum if you want the government 500$. I believe they can also use it until like 35 years after opening so they have a lot of time and can use it for a college diploma, undergrad and a masters. Most likely your child is going to do some kind of education after high school so you might as well set them up for success
Did anyone use Embark
We do ours through our wealth planner and his company. My suggestion is opening up a family one, so if you have one child who doesn’t use it, the other children can. The government matches $500 for every 2500 put in every year. There are better matches for lower income families.