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- 647-274-9670
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55 Crockford Blvd,
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RESP
Investing With POLICYDIRECT
Our licensed financial services representatives are here to assist you in creating a complete investment portfolio to meet your investment goals.
Portfolio With POLICYDIRECT
We utilize the traditional investment tools along with the latest investment planning techniques to create investments that work for you.
Investing Made Easy
We offer the advice, solutions and resources you need to reach your goals. And we do it in a way that always puts you first.
Registered Education Savings Plan (RESP)
RESPs can be a great way to save for your child’s education
An RESP is a tax-sheltered plan that helps you save for a child’s post-secondary education faster. Money invested in an RESP can grow tax-deferred, and the best part? The government can contribute up to $7,200 directly to your child’s RESP.
How to Grow Your RESP Savings Faster
Automate Your Savings
With a regular, pre-authorized contribution plan you save without even thinking about it!
- Start with as little as $25 per week
- Contribute weekly, bi-weekly, monthly—you choose
- Set it and forget it—contributions are automatically debited from your bank account (change, pause or stop at any time)
Invest Regularly
See how contributing $25 per week in an RESP adds up quickly when supplemented by the federal and provincial incentives.
Trusted Customers
Benefits of an RESP
Tax Sheltered Growth
Earnings within an RESP are not taxed. When the funds are taken out for education, withdrawals are taxed in the student’s hands, often resulting in little or no tax.
Get Government Contributions
Grow your savings faster with the Canada Education Savings Grant (CESG)1, Canada Learning Bond (CLB)2, and other government incentives.
Built-In Flexibility
If the child doesn’t pursue post-secondary education, you may be able to choose a new beneficiary. Or, if he or she wants to travel first, you have 35 years to use the funds.
HOW RESPs WORK
- You contribute money into your child’s RESP. The government will then contribute an additional 20% on the first $2,500 contributed annually, up to a maximum of $500 a year. That can add up to $7,200 over the lifetime of your RESP, per child, in grant money through the Canada Education Savings Grant (CESG). You may also be eligible for the Canada Learning Bond (CLB) and additional provincial grants.
- You can set up an individual or family RESP. An individual plan is meant for one child, whereas savings in a family plan are shared among multiple children. Learn more about the difference betw a family and an individual RESP.
- There are no annual contribution limits or any limits on the number of RESPs you can have. Plus, you can contribute up to $50,000 per child, and can contribute to an RESP for up to 31 years. Learn more about contribution limits.
Give a child you love a head start on higher education
Whether they’re still in diapers or in those awkward tween years, our kids deserve the best we can give them – including help with their post-secondary education. A Sun Life advisor can show you how an RESP can help you save for university, college or an apprenticeship – and how you can add to your savings with free money from the government.
PROBLEMS
THAT WE CAN SOLVE
- Evaluating your current financial position.
- Tolerance for risk assessment strategy.
- Assessing your future financial needs and goals.
- Creating a custom investment portfolio that meets all your investment and retirement needs and goals.
- Manage and monitor your investments over both the medium and long term.
- Assist you in planning for the unexpected. Updating your financial plan if ever there are changes in your financial situation.
BENEFITS OF
INVESTMENTS
FROM POLICYDIRECT
- Free no obligation consultation.
- No out of pocket cost by you to our representative ever.
- Proprietary Analytical Software Technology to create strong performance and financial outcomes for our clients.
- Professional team of financial services associates to manage your investment portfolio.
- Professional attention and top-notch customer care.
- Ongoing consultation over the phone, on your schedule to make it easy and comfortable for you.
TRY OUR INVESTMENT ADVICE
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- By admin
- Sep 09, 2022
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