The RESP: What is it?
An RESP is a plan that is defined as a portfolio where you will be able to invest money for your children’s education. When your child arrives at CEGEP, in a D.E.P. or at university, it will be possible to withdraw the sums.
In most plans, you will be able to withdraw up to $5,000 the first year and the rest of the Montamt the following year. Interesting thing to know is that for every dollar invested, the government will give you a certain % bonus subsidy. More details in video.
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