Post-secondary tuition fees continue to rise annually. Opening an MD RESP is an excellent way to ensure that the educational needs of your child or grandchild can be paid for without impacting your future lifestyle.
An MD advisor can help you understand the benefits of an MD RESP within your overall wealth management plan and consider the various options of saving for education through tax-free savings accounts, non-registered accounts and through MD RESPs. Your MD advisor will work with you to craft an investment plan that will help your investments to grow over time and ultimately meet your child's future educational needs. Your MD advisor can also speak to you about a special MD investment option created specifically to help MD RESP investors achieve their goals.
Benefits of an MD RESP
Automatic grants
- Federal grant of a maximum of $500/year, per child (equal to 20% of MD RESP contributions to a maximum of $2,500)
- Provincial grants like the Quebec Educations Savings Incentive and the Alberta Centennial Education Savings Plan
Tax deferral on investment earnings in the plan
Flexibility of a family plan
- If one beneficiary does not pursue post-secondary education, grants can be transferred among beneficiaries who haven't reached their lifetime grant limit
Diversification through the MD family of funds
- Managed by some of the world's best investment managers
- Low MERs ensure that more of your money is working for you
Investment advice from your MD advisor to help guide you
Easy to start
- A convenient process - all paperwork is available through your MD advisor
- As little as $25 a month
Locate the MD office nearest to you or contact your MD advisor to get your MD RESP package and start saving today.
