my adorable daughter is nine-month old. these days i am considering to buy RESP for her, but feel a little lost in choosing a better one in so many options. moms, please talk about what your option is and why it is attractive to you. thanks a lot for your help.
beautiful moms, any suggestions on RESP
- 主题发起人 yani
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aiya
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in bank, you can take your contributions without penalty or admin fees.
with USC or other similar organizations, if you withdraw earlier you will pay penalty or admin fees, usually it is thousands of dollars,depends how long and how much you put in it. and if you withdraw from RESP, the benefits part will be put back to the government. so you can only get your contributions, I am not sure that you can get your interest or not. In bank, I think you can, with USC probably not.
the only thing about USC is better that the returns usually much higher than bank.
with USC or other similar organizations, if you withdraw earlier you will pay penalty or admin fees, usually it is thousands of dollars,depends how long and how much you put in it. and if you withdraw from RESP, the benefits part will be put back to the government. so you can only get your contributions, I am not sure that you can get your interest or not. In bank, I think you can, with USC probably not.
the only thing about USC is better that the returns usually much higher than bank.
