There are a number of reasons why subscribing to the Canadian registered education savings plan can be beneficial to you and your family. Canadian government program will set you on the right track toward putting aside the money that you need in a fine which will continue to accumulate. As this fund continues to accumulate, that money will grow and be allocated for your child’s educational costs ask for benefits to Heritage RESP. To learn more about why this can be excellent for you, read the points below:
#1: Money Will Not Be An Issue Once They Graduate
One of the best reasons to set up one of these funds as early as possible is that it takes a huge hindrance off the table. By not having to worry about money, your child can simply relax and finish out their senior year, knowing that college is paid for using RESP. This is a benefit that not all children enjoy, so you will truly be providing your child with a head start and plenty of peace of mind.
#2: Your Child Will Have Access To Any School They Desire
One of the benefits of making money a non-issue is that your child’s educational options increase. If their grades are on par, they are involved in plenty of activities and score well on the SAT, your child should have plenty of educational options to browse through. When money is not an issue, this truly becomes a reality and sets your child on the right track toward success in their life and in the career.
#3: It Makes Your Burden Easier As The Parent
Finally, you as the parent will be able to relax knowing that one of the biggest obstacles is taken care of. You will be able to allow your child to leave the nest knowing that you put them in the absolute best position to succeed on their own. This is an incredibly important step into their journey and will go a long way toward putting your child in a position to be an upstanding, thoughtful and contributing member of society.
Factor in these advantages and make sure that you do all that you can to subscribe to one of these retirement savings plans. This will give you plenty to think about as you apply and look to make the most out of your child’s ability to continue their education at the highest level.