RESP: It Takes a Village – and a Plan

They say it takes a village to raise a child and at CAPCORP, we believe it also takes a plan to build their future.

This time of year, we often think about gifts that bring joy in the moment. The most meaningful gifts aren’t always the ones wrapped in paper and ribbons. Sometimes, they’re the quiet decisions we make today, the ones that open doors years down the road.

A Registered Education Savings Plan (RESP) is one of the most meaningful ways to give that kind of gift. With government matching grants and the power of compounding, even small contributions today can grow into something remarkable over time.

Whether it’s your child, grandchild, niece, or nephew, an RESP isn’t just about saving for school; it’s about giving them the freedom to choose their future without the weight of financial burden.

Why it matters:

• The power of compounding: Time is your greatest ally. Start early to let your contributions and government grants grow together.
• Rising costs: Tuition, residence, books, and food can easily exceed $15,000 per year.
• Tax benefits: Earnings grow tax-free, and withdrawals are taxed in the student’s lower bracket.
• Free money: The government matches 20% of your contributions (up to $500 a year, $7,200 lifetime per child), with potential additional grants available based on province and income.
• If you already have an RESP, now is the time to top up contributions before December 31st to maximize this year’s grant.

If not, let’s connect and our certified financial advisors can help you set it up and guide you from there.

Because while some gifts last a season, this one lasts a lifetime