Your investing questions, our clear answers.

Our response:

First, we should let you know that we can’t provide any specific financial or investment advice. That said, we do try to help as best we can.

When considering any type of savings plan or investment, factor in your risk tolerance – your willingness and ability to take on risk. Different investments have different risks. Generally the higher the potential reward of an investment, the higher the risk. If you’re not comfortable losing some or all of your savings, you may consider safer options.

You may also consider holding your savings in a registered education savings plan (RESP) for your child’s future post-secondary education. Among the benefits of RESPs is an annual government grant (subject to age restrictions). Additional grants and bonds are available to lower income families. Learn about government grants and bonds for RESPs.