RESP Explained Part 1 | Tax Free Investing for Your Child's Education | Canadian Tax Guide Chapter 5

What is an RESP? How can I afford University for my Child? How Do I Invest in my Child’s Education Fund? How do I get Free Money from Government Education Grants?

This is Part 1 of my RESP Explained series where I break down all of the basics of the Registered Education Savings Plan for Canadian parents! In this video, I go over the benefits of an RESP and how you can use tax-sheltered investing and Canada Education Savings Grants to fund your child’s post-secondary education. I’ll provide my strategy to maximize this free money from the government and how to invest in your RESP to make the most of its tax-free growth!

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SKIP AHEAD ⏩
-Intro: 0:00
-RESP Basics: 1:13
-Benefits: 1:52
-Tax Sheltered: 2:13
-Cost of University: 3:05
-RESP Rules: 3:45
-Government Grants: 5:31
-Unused Grants: 6:21
-Lower Income Programs: 7:33
-Maximize Grant Money: 9:06
-How Much Money to Expect? 11:10
-Steps to Take: 12:31
-TFSA vs RRSP vs RESP: 14:05
-Investing in RESP: 15:06
-US Withholding Tax: 16:27
-Summary: 17:23

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