I wonder if you are talking about RESP?? If you are talking about RESP, I personally think it is a good idea to buy. I bought it a while ago and I think it's worth it. I just know that if you have a job which you have income and u can choose to buy it and pay like $150, or $100 or$50 or even $20 every month. For every $100 dollars u've pay the government will help u pay $20 until ur child graduate from highschool. But one thing is that ur child have to study either in University or college or even other courses then u can take those money to help pay the tuition fee without paying the tax for all those years. Even if your child leave the country to study you will be able to take it out tax free. But if unfortunately ur child don't want to study after highschool then you will still be able to take the money back out but you will have to pay the tax from the total amount of all those years. Basically it's like an insurance which u help ur child buy for education. I know that the earlier u buy the more money u can get from the government and if your child buy earlier you can get more grant from the government. If you want to buy, u can find some ppl in the insurance industry or go to the banks to check out. If you lives in Vancouver, I have a friend who sell these and I can referr her to you so u'll be able to know more about it.
786, per my understanding the RESP is for canadian citizen/PR only. if you are not in the category, you may not be qualified the such.
besides, every one could only buy RESP up to Max of $2000/year - in order to get the government's contribution 20% (i.e. max $400/year). Also, I guess the overall max contribution of the RESP is $20,000 for each kid... so you might have to look into this.
once you buy the RESP, you could use the $$ to invest - either put them on the gurantee return (eg. 3%) or for high/medium risk investment to have higher/medium return..
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