Wealthsimple RESP
Hi all,
I am wondering if someone can guide me through how money in RESP works in long term. I opened RESP account with Wealthsimple 4 years ago. Over 4 years, I am keeping an eye on growth/balance etc. I see sometime it goes up by $600 but another time down by $550 and sometime even in -, so basically, in 4 years at the time, I have just $50 earning, sometime 600 but another time all down to 0 and even in minus.
I am trying to understand how this investment works. If this is how balance fluctuates, it could be $0 earning or potentially in minus on the last day when it's time to take out the balance? then what's the point of depositing money in an investment account?
I am wondering if someone can guide me through how money in RESP works in long term. I opened RESP account with Wealthsimple 4 years ago. Over 4 years, I am keeping an eye on growth/balance etc. I see sometime it goes up by $600 but another time down by $550 and sometime even in -, so basically, in 4 years at the time, I have just $50 earning, sometime 600 but another time all down to 0 and even in minus.
I am trying to understand how this investment works. If this is how balance fluctuates, it could be $0 earning or potentially in minus on the last day when it's time to take out the balance? then what's the point of depositing money in an investment account?