The beginning of a child’s life is always full of opportunities. And even if your child is just born and far from knowing what to want for their future, this is the best time to start saving money for their college education.
If you’re willing to do whatever it takes to prepare your child for a better life, open a Registered Educational Savings Plan (RESP) as soon as possible to get the best results. At birth, your child will receive a Social Security Number (SIN) and be eligible to become an RESP recipient, so you can start saving immediately.
You will have plenty of time to reach the $50,000 RESP contribution limit per child.