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Given the time horizon before money will be withdrawn, what would be a reasonable portfolio to follow?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?