What an RESP is for
A Registered Education Savings Plan is designed to save for a child’s post-secondary education. Funds may help with tuition, books, tools, housing, transportation, and other eligible education-related costs when the child attends a qualifying program.
Why planning matters early
Education can be expensive, and families often balance RESP contributions with mortgages, childcare, insurance, and retirement savings. Starting early can help, but the contribution amount should still fit the family budget.
Key decisions
- How much can be contributed consistently?
- Who should be subscriber and beneficiary?
- Should the account be individual or family-based?
- How should investments become more conservative as school approaches?
- How will withdrawals be coordinated when education starts?
How FinVisor helps
Azadeh helps families understand RESP structure, contribution planning, investment risk, beneficiary considerations, and how education savings fit beside insurance and retirement goals.