Any advice on RESP?

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asked May 17, 2016 02:51 PM by
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I am still a newbie here on MoneyGeek. Now I have a question about Education Savings Plans... I currently have put away $25k for RESP for my two kids. One is in grade 8 (14 years old), the other in grade 5 (10 years old). So I have 3 and 7 years respectively to contribute to their RESP plan.

I would want to leave the current RESP as is (for family reasons), but start a new RESP with Questrade that will be "fed" for the next 3 and 7 years respectively. I plan to max out every year, i.e. $2500 per child per year (+ 20% government grant).

Given the time horizon before money will be withdrawn, what would be a reasonable portfolio to follow? The regular moderately conservative? Or the regular slightly conservative?

Thanks, Helmut

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answered May 17, 2016 08:39 PM by
Jin Won Choi gravatar image Administrator

Hi Helmut,

Let me first clarify what I can and can't do. MoneyGeek is not a regulated financial advisory firm, and as such, I actually can't provide personalized advice of this nature. I don't want to get into why the company is not regulated - there are a number of different reasons why.

While I can't give you advice directly, I can answer any questions you may have regarding investments in general. In general, if you have a less than 10 year time horizon before you need to pull your investments, conservative portfolios are the better way to go.

Hope that helps,


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Thanks, Jin. I know that your are not a financial adviser and I don't expect you to tell me what to do. I apologize. I should have phrased my question differently like "are there any investment tricks of the trade to keep in mind when investing for the shorter term, e.g. RESP".

HelmutD ( May 17, 2016 11:28 PM )edit
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