Imagine if you could give your children the gift of a secure financial future—one where their education is fully funded and their dreams are within reach ✨
In this episode, I’m diving deep into the world of financial planning for parents, sharing the strategies and personal insights that have shaped my own journey.
We’ll explore the power of Registered Education Savings Plans (RESPs) and Tax-Free Savings Accounts (TFSAs), and I’ll show you how to leverage government grants and tax benefits to build a rock-solid foundation for your kids.
Introduction to Investing for Children (00:00:00)
Personal Reflections on Financial Preparation (00:00:55)
Understanding Wealth Creation (00:02:54)
Introducing Registered Education Savings Plans (00:03:55)
Considerations for Using RESPs (00:04:52)
Options for Unused RESP Funds (00:06:56)
Transferring RESP to Other Accounts (00:08:06)
Tax-Free Savings Accounts Overview (00:09:13)
Long-Term Investment Strategy with TFSAs (00:10:14)
Teaching Children About Investing (00:11:18)
Flexibility of TFSA Contributions (00:12:24)
Exploring Other Investment Strategies (00:13:31)
Links and Resources:
How do you choose between RESP vs. TFSA
How TFSAs Can Make Your Children A Millionaire
Schedule a free financial and investment (RESP/TFSA) review
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