Registered Education Savings Plan Explained for Beginners (with 20% Return Guaranteed) | RESP 101

■ 💸Not sure If you are on the right path in saving? 💪 Download this FREE Financial Clarity Checklist: https://finance.thomascchan.com/5steps ■ 💰Book a 30 min Complimentary Consultation with Thomas 🕵 https://finance.thomascchan.com/consult #RESP #RegisteredEducationSavingPlan #RESPcanada Do you have any idea what is going to cost you to pay for your kids' college / University? How much does post-secondary education cost nowadays? or should I take student loans or resp? In today's video, you will learn how the Registered Education Savings Plan works Why is it important to utilize the RESP compare to other investment plans? and how do you get the 20% rate of return guarantees risk-free in the RESP? RESP 101 One of the best ways to save for your kids’ future education is through the RESP program. Register education savings plan short for RESP started in 1972 and modified in 1998 to include a grant from the government (CESG + CLB), designed to help you save for a child’s post-secondary education. like TFSA or RRSP, RESP not only can grow with a tax advantage, but the government also gives free money. For every dollar that you put into resp, the government will give you a 20% bonus (Canada Education Savings Grant aka CESG) up to $500 per year and a maximum of $7,200 lifetime. if the entire family income is less than or equal to $47,630, then the government will give an extra $2000 to the RESP. (Canada Learning Bond aka CLB) Is RESP a good investment? Definitely, every $ you put, you get 20% free money! should I take student loans or resp? RESP first, student loan after _______ 🗣 Feeling stressed regards to your current finance? Learn 5 EFFECTIVE ways to Boost your Financial Immune System Download this FREE, EASY, Step-by-Step checklist 🔊 https://mailchi.mp/6fdcfaf76d75/finan... “7 Ways to Make Money💰 Without Leaving The House🏠”    • Extra Income 2020 | 7 Ways to Make Money💰 ...   “3 Habits to Help You Stay Positive and Productive 💪”    • Breakthrough 2020 | 3 Habits to Help You S...   “How To Get a Good Rate of Return WITHOUT Investment Knowledge!”    • How To Get a Good Rate of Return WITHOUT I...   “4 Things You Need To Know Before You Invest!💴📈”    • Investment 💴| 4 Things You Need To Know Be...   “How Term Insurance Works In Canada? | Insurance 101”    • How Term Insurance Works In Canada? | Insu...   ----------- Thomas is a 10-year veteran advisor in the insurance and investment industry. He understands the life stages and challenges that people are going through. Therefore, the purpose of this channel is to bring awareness to the importance of financial education. No matter what age group you are in, knowledge has the potential to unlock wealth. Better Mindset | Better Life! Facebook｜https://fb.me/ThomaswithNovella Mail｜[email protected]