The RESP: Would You Turn Down “Free Money?”
There are many reasons to consider a Registered Education Savings Plan (RESP) to save for a child’s future education: tax-deferred growth within the plan, earnings taxed at the child’s tax rate when eventually withdrawn and, of course, the Canada Education Savings Grant (CESG). The CESG consists of funds paid into the plan by the federal […]
Cultivating Financial Habits from a Young Age
“The best way to teach your kids about taxes is by eating 30 percent of their ice cream.” – Bill Murray, Comedian While repeated in jest, this witty remark highlights an important truth: teaching children about financial responsibilities early on can have lasting impacts. Many of us spend our lives working hard to build […]
Financial Literacy and Children: Keep it Relatable At Every Age
How can we raise financially confident children and grandchildren in an increasingly complex world filled with distractions? Many of our clients, for example, are concerned that the next generation won’t possess the financial literacy needed to inherit family wealth. The good news is that while introducing healthy money habits to young children is ideal, […]