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Saving for College or University

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We all know that college and university tuition expenses are on the rise, and this account is designed to help make saving for these cost a little bit easier. The term RESP stands for Registered Education Savings Plan. Similar to an RRSP, money grows inside the account tax free. There is no deduction on deposits but the Federal government does offer some additional money to account holders in the form of the Canada Education Saving Grant (CESG, another acronym I know). This “Grant” is equal to 20% of the first $2,500/year deposited by you into the account. That’s an extra
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Saving for Retirement with RRSPs

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Ever try to watch a business news or investment channel and get instantly confused by all the jargon? The financial services industry is riddled with acronyms for all sorts of terms. Often that leaves people scratching their heads trying to figure out what the experts are really talking about. I thought I would take a moment to “demystify” some of those terms for you. RRSP = Registered Retirement Savings Plan. Sometimes you’ll see this also referred to as an RSP (Retirement Savings Plan) but it means the same thing. It’s a type of plan that is used primarily to save
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