RESP in Canada?

Question

Can someone advise what is the best RESP plan out there?

What's the difference between using the bank and a private company? If I use a private company who do you recommend and why?

Answer 1

Denka,

You could choose vehicle either GIC, Mutualfunds, Stocks or saving account as RESP investment.

Stocks can be risky you do not want to  risk the education fund for your child. Saving account  and GIC have low rate of return.

Mutual funds also could be risky plus Management expense ratio is high.

You should explore Global Education Trust Plan with low risk and does better rate of return than GIC and saving account.

Global plans has much Lower Management expense ratio compare to mutual funds. If you need more information send me email.

www.globalfinancial.ca