Your investing questions, our clear answers.

Our response:

Thank you for your question Chiradee. We are not able to provide specific advice such as what type of product is a good investment for an RESP account.

A Registered Education Savings Plan (RESPs) is a type of account that allows you to save for a child’s education after high school. There are tax benefits because there is no tax on the investment earnings, as long as they stay in the plan. There are other reasons to open an RESP.  Until the end of the year the beneficiary is 17, the federal government also puts money into the RESP as a grant or bond. There are a number of investment options for RESPs including: stocks, bonds, mutual funds and GICs. Find out how you can open an RESP.

Read our brief overview on the different types of RESPs.
Speak to a registered financial advisor for advice about the options that work best for your RESP.