Quote:

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Originally posted by rsbagwell

4) Potential for higher growth which you will not get in fix deposit saving account.

Hope this helps

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Chandresh

Advice is free – lessons I charge for!!

http://www.hrsdc.gc.ca/eng/learning/education_savings/public/resp.shtml

Above link has quite a bit of RESP related info.

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Dimple2001

Quote:

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Originally posted by rsbagwell

4) Potential for higher growth which you will not get in fix deposit saving account.

Hope this helps

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Chandresh

Advice is free – lessons I charge for!!

Quote:

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Originally posted by chandresh

Quote:

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Originally posted by rsbagwell

4) Potential for higher growth which you will not get in fix deposit saving account.

Hope this helps

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Are you not allowed to have fixed deposit in your RESP account?

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Has anyone tried the Market Growth GIC (GIC Plus) from TD? They are offering a max of 10% to around 52% return with no negative effect on principal.

Of course, the max limit may or may not happen depending on the performance of the different indices the GICs are pegged to. I am thinking of going with that for my child's RESP since those GICs are for 3 or 5 year commitment and RESP are long term commitments.

Comments? Thanks.

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Dimple2001

Quote:

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Originally posted by rsbagwell

Wall E/BP,
I will give you short answer
1) In RESP you get min 20 % of your contribution from goverment. (It's like 20 % return gauranteed!). If you contribute $100 monthly for RESP. Gov will contribute $ 20. So the total amount of $ 120 is going towards your child's RESP. This can go upto 40 % (there are some conditions)depending upon your income.
2) Your money grows tax free.
3) When withdrawing for education purpose, the tax is less as it is counted as beneficiary' s income (Your Child)
4) Potential for higher growth which you will not get in fix deposit saving account.

Hope this helps

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Hi dimple2001


I would definetlly like to know more about TD GIC plus.

Please keep me update if you get more information

thank you all for important info

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'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)