RESP

Go with a self directed individual or family plan. Avoid group RESP/Scholarship Trusts.

https://boomerandecho.com/group-resps-w ... void-them/

Invest in a couch potato portfolio, heavily weighted in equities when the child is young; as they get towards university age, increase the weighting to bonds.

Use Wealthsimple.

https://help.wealthsimple.com/hc/en-ca/ ... ple-offer-

Equity early to income/bond 2years before attending university

I have a TD Direct Investing account for my son's RESP. It's invested in 50% US Index series and 50% CAN Index series.

Managing it yourself is easy and will save you lots of $ in management fee. A education fund company try to see me a RESP find and they have a 3% MER, which is ridiculous compared to my 0.33% in my TD index fund.

I just went into my TD branch and asked for a RESP direct investment. Then asked them to setup auto deposit of $210/month, this will get you the full amount government grant every year. Then go into my brokage account and search for TD US and Canada index fund, it should be TDB900 and TDB902, then brought some units of those index fund. For the grant, you'll automatically get it in your account a few months after your contribution.

I am sure you can do what I did with any of the big bank. Just need to find their index fund.

Don't overpaid for management fee and do it yourself. It's easy and worth it.

NeighbourJoe wrote: ↑ I have a TD Direct Investing account for my son's RESP. It's invested in 50% US Index series and 50% CAN Index series.

Managing it yourself is easy and will save you lots of $ in management fee. A education fund company try to see me a RESP find and they have a 3% MER, which is ridiculous compared to my 0.33% in my TD index fund.

I just went into my TD branch and asked for a RESP direct investment. Then asked them to setup auto deposit of $210/month, this will get you the full amount government grant every year. Then go into my brokage account and search for TD US and Canada index fund, it should be TDB900 and TDB902, then brought some units of those index fund. For the grant, you'll automatically get it in your account a few months after your contribution.

I am sure you can do what I did with any of the big bank. Just need to find their index fund.

Don't overpaid for management fee and do it yourself. It's easy and worth it.

auto deposit of $210/month per child to get annual $500 in grants regardless of income.
Don't overpaid for management fee and do it yourself. It's easy and worth it. not everyone is a do-it-yourself; you'd be surprised how many people are out there with mismanaged finances trying to do-it-yourself investments.