Registered Education Savings Plan (RESP)

Your children are your everything; they’re your biggest priority. At Cal LeGrow, we want to help you build the best future for them.

To that end, a Registered Education Savings Plan (RESP) will grow your contributions, tax-deferred, until the child attends university, college, or a vocational institute. When the time comes, the money will be there for the ones you love.

What you need to know:

  • The Federal Government of Canada offers:
    • A Canada Education Savings Grant that will top up your contributions by 20%, up to $500 per year, and $7,200 in a lifetime.
    • A Canada Learning Bond that assists low-income families.
  • RESPs are available as individual or family plans.
  • Withdrawals are taxed from the student, who will generally be in a lower tax bracket.
  • You decide when and how much money is withdrawn, and what the funds will be used for: tuition, books, or living expenses.

Call our team today and build the most financially secure future for the youth in your life.

709.778.2388 / toll free 1.888.720.3282

Kirk Stoyles

Financial Advisor

Carl Grimes

Financial Advisor

Sean Kennedy

Financial Advisor
St. John's, NL

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