“Disclosure: I am part of the RBC RESP blogger program with Mom Central Canada and I receive special perks as part of my affiliation with this group. The opinions on this blog are my own.”
When our daughter was born, we had a lot of phone calls from different companies offering us an opportunity to start a RESP for our daughter. The information was overwhelming to a point that we couldn't take it anymore and never started one for our daughter. We have continually been talking and thinking that we need to start a RESP, but with who?
Earlier this year, our son was born which really made us seriously wanting to start and RESP for our kids. One of our friends recommended us to talk with RBC. About a month ago, we had an appointment with RBC, and our experience with them was so much different than any of the other private companies. The information was clear, no hidden costs and best of all no pressure to go with them.
We were also told that with RESP's, our children could attend universities not only in Canada, but in many different countries as well. They showed us a list of universities from around the globe that could be attended by our children. Check out more great tips with RBC here.
I was a student who graduated from college with my B.A. I had lots of fun in school and never really thought about or worried about the financial burden I was building up for myself after I graduated. It was great that I got my B.A., but in turn, I accumulated over 30,000 in student loans. Not only was this a real burden on myself, but it also brought struggles into my marriage financially because we were so tight every month and wondered at times where this money was going to come from by the end of the month.
I strongly desire my children to get the education they need to be a success in whatever carrier path they desire to take, but not at the expense of having student loans that they will be paying off for the rest of their lives.
To give you a better idea, if you put away only 25 dollars a week into RESP, my children will now have what they need to have to continue their education when they graduate from High school.
We are fortunate to live in this country. I love that the government support us by match up to 20 % on the first $2,500 contributed annually.
You may say, " What about the time I have already lost by not starting when my child was younger?" We asked RBC the same question, they told us that we cab catch up an extra two years per year! That's right, so no worries, no time lost.
So if my story moves you to get an RESP with RBC I believe you will be forever thankful you read this post. You can find more information at rbc.com/education
There is a party coming up on Twitter on October 1st. There will be many useful information for you. If you have any question, I am sure that you will find your answer there. Not that your questions will be answer, you also can win one of 6
More good news, during this time from September 3 - October 4, you can enter to win 4 prizes of $500 with RBC here: http://bit.ly/1tY3nGZ.