Unlocking Education Funding... Year-End Planning Insights 💡

Discover the crucial aspects of year-end education planning that are too often overlooked! 🎓
It’s common for families to not save towards education savings as part of their goals initially and then later decide to fund post-secondary education from cash flow.
This strategy is excellent but often once people realize they need to fund education in the upcoming year, they decide it would be a great time to put $2,500 into a Registered Education Savings Plan (RESP) to get the $500 grant from the government.
They likely do not realize that there are important rules and restrictions that prohibit these types of arrangements. In this video we discuss some of these details.
#educationplanning #RESP #FinancialWisdom

[@jimbertrand2499]

My RESPs backfired… Two kids didn’t go to post-secondary and I had to EAT the $$ with penalties and taxes when they turned 35…

[@precedenceprivatewealth2872]

I'm truly sorry to hear about the challenges you've faced with your RESPs. It must be disheartening to see your well-intentioned plans not unfold as expected. Financial decisions, especially those involving education savings, can be complex, and life circumstances sometimes take unexpected turns.