heritage-resp_xmasgift

Gift a Lump-Sum RESP for the Holidays!

Do you ever feel like the Christmas gift you are giving will be lost or forgotten the next day—or worse, sit in a broken heap if the child is too rough with it?  With five children in our household, four of whom are boys, presents are often broken minutes after having received them.

I believe that none of my children intend to break a gift; it’s the force of four eager boys pulling on the same gift at once.  As most of these broken toys cannot be repaired, they sadly go into the garbage can or recycling bin.

If you’re looking for a meaningful item to gift this holiday season, consider gifting a lump-sum Registered Education Savings Plan (RESP)!  Not only is it a great investment, it’s a vote of confidence in a child’s post-secondary education.  Here’s some information about this wonderful present:

  •    No minimum amount is required to put down toward this lump-sum RESP
  •    Contribute to the RESP once, or as often as you wish (there are no requirements to make any further contributions after contributing the initial amount)
  •    The child’s parents will receive a notification in the mail, alerting them of the RESP
  •    An account maintenance fee of $3.50 plus tax per year applies (deducted quarterly from the contribution less principal)  

Are you ready to start a new holiday tradition by gifting a lump-sum RESP?  Keep up the momentum by adding funds on the child’s birthday, or other special occasions.  It’s amazing how much “gifts from the heart” grow over the years—with interest, and from Canada Education Savings Grant (CESG)* contributions!

*Certain conditions apply. See prospectus for full details.