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  • May 28th, 2019 4:47 pm
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[OP]
Deal Addict
User avatar
Aug 11, 2003
1534 posts
133 upvotes
C-53

RESP

RFD,

I need help selecting RESP for the kiddos. Any advice?
Please thank me if you find this helpful
5 replies
Jr. Member
Dec 15, 2005
132 posts
25 upvotes
Toronto
Equity early to income/bond 2years before attending university
Newbie
May 25, 2019
29 posts
8 upvotes
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.
Neighbour Joe
FIRE Blogger
Slowly But Wealthy
Jr. Member
Dec 15, 2005
132 posts
25 upvotes
Toronto
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.

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