Education Planning
Education Planning: Secure Your Child’s Future.
We all know post-secondary education in Canada isn’t cheap. From tuition to textbooks, student housing to commuting, the costs add up fast. As a parent, you want to give your child the best opportunities, but that doesn’t mean you have to sacrifice your own financial well-being (goodbye, vacations!) just to make it happen.
The good news? Smart education planning can help you save efficiently—without the stress.
Why Start Planning Now?
One of the greatest gifts you can give your child is a solid education. But let’s face it—many parents focus only on tuition, forgetting about the other expenses that come with university or college:
📚 Books & supplies
🏠 Student housing
🚆 Transportation
🍽️ Meal plans & daily living expenses
Without a proper plan, covering these costs can feel overwhelming. But with the right strategy in place, you can set your child up for success—without jeopardizing your own financial security.
How We Help
Every family is different, which is why we tailor education planning to your unique situation. Here are some of the key tools we use:
📌 Registered Education Savings Plan (RESP)
The RESP is the most popular education savings tool—and for good reason! Here’s why:
✔️ Government Grants: Depending on where you live, the government may contribute free money into your RESP through grants.
✔️ Tax-Deferred Growth: Your investments grow tax-free until withdrawn for education.
✔️ Flexible Plan Options: Choose from individual, family, or group plans based on your needs.
However, RESPs come with rules and contribution limits—that’s where we help. We’ll make sure you maximize every dollar while avoiding penalties.
💰 Other Smart Ways to Save
✅ Non-Registered Savings Accounts
Want more flexibility? A non-registered savings account lets you set aside money without contribution limits, giving you full control over when and how you use it.
✅ Tax-Free Savings Account (TFSA)
Your TFSA isn’t just for retirement—it can be a great education savings tool! Any growth inside the account is tax-free, and when it’s time to pay for school, withdrawals won’t be taxed.
✅ Leveraging Insurance Products
Did you know certain life insurance policies can also be used to fund education? Some plans build cash value tax-free, which can be accessed later to help with tuition.
📢 Our Role: Making It Simple for You
We break down the jargon and guide you through every step—so you can make informed decisions without the confusion. Plus, we’ll ensure you stay compliant with government rules to avoid costly penalties.
🚀 Get Started Today!
Planning early means less stress and more opportunities for your child. Let’s build a plan that works for your family’s future.
📅 Book your free consultation today!