Why I’m Grateful I Started an RESP (Even When Life Was Busy)
As a mom of two teenage daughters, I know how quickly the years fly by. One day you’re bringing them home from the hospital, and the next you’re researching universities, colleges, and career paths. Trust me—it sneaks up on you fast.
That’s why I’m so thankful I started a Registered Education Savings Plan (RESP) for my girls. And if you haven’t started one yet—whether your kids are babies, in elementary school, or already in their teens—it’s not too late.
Why I Chose an RESP for My Daughters
When I first heard about RESPs, I’ll admit I was overwhelmed. There are so many things to juggle as a parent, and saving for post-secondary education felt like “something I’d figure out later.” But once I realized the benefits, it became a no-brainer:
Free government money: The government matches 20% of what you put in each year (up to $500 annually, and $7,200 total per child). That’s money I didn’t want to leave on the table.
Tax-free growth: The savings inside the RESP grow tax-free, which makes such a difference over time.
Flexibility: I love that my girls can use it for university, college, or even trade programs.
It’s Never Too Late
If you’re reading this and thinking, “But my child is already 10… or 12… or even a teenager,” please don’t stress. You can still open an RESP and catch up on missed grant money. Even starting later can have a huge impact on their future—and your peace of mind.
I opened ours when my oldest was still in elementary school, and even though I didn’t max it out every year, the government grants and investment growth have added up more than I imagined.
Bonus: You Could Win $2,500 Toward an RESP (until October 31, 2025)
Here’s the exciting part—right now there’s an opportunity to WIN $2,500 to put directly into your child’s RESP. Imagine the boost that could give your family’s savings. Every bit counts, and this kind of head start can make a real difference.
From One Parent to Another
As a mom, nothing matters more to me than knowing my daughters will have the chance to follow their dreams without being held back by money. Setting up an RESP has been one of the best parenting decisions I’ve made—it’s my way of telling them: “I believe in your future.”
So if you haven’t opened one yet, take this as a little nudge from me to you: start today. You’ll be so glad you did.
Ready to get started or learn more? Reach out and let’s talk about how we can set up the right RESP for your family—your kids’ future is worth it.
These statistics are from 2021 and 2024’s new research shows similar results dont miss your opportunity to provide for your child https://www.canada.ca/en/employment-social-development/services/student-financial-aid/education-savings/reports/statistical-review.html
