Personal Finance

What is an Resp or Reee

  • Last Updated:
  • Jun 14th, 2019 2:30 pm
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[OP]
Newbie
Mar 26, 2019
82 posts
25 upvotes

What is an Resp or Reee

And how does it work?
How much tax do you have to pay and does it count as an income?
4 replies
Deal Addict
Dec 15, 2009
1193 posts
383 upvotes
Ontario
Covered online by tons of experts. Google.
Newbie
May 21, 2019
3 posts
Here is a thought to chew on. You might be better off forgoing all the federal grants/bonds and just dropping the maximum contribution on day 1, especially if the baby is <1. The compounded rate of return you would earn on the maximum contribution, may outstrip the benefits of the federal grants/bonds over a 16-18yr time period. This all depends on your risk tolerance and available cash.

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