Saving for Future Success
Being a parent is so INTERESTING! No matter his age, my son Sam has seemed like The Cutest every year. Certainly, every age comes with its own unique wonders and challenges. For instance, even though he’s just recently turned six, Sam is much more of a little man than he was at five. I love watching him grow and seeing what he’ll do or say next..
What I’m seeing in Sam makes my mom heart swell: he is thoughtful, sensitive to others’ feelings, kind, bright, a picky eater, quick to laugh at things, appreciative, loving and imaginative. He is very imaginative! Listening to him roleplay with his toys is such a hoot. I often wonder how he’ll choose to invest his life as he matures. Mike and I are determined to provide the best options for him that we can. My dad started saving early for my post-secondary education and I recognize what a gift that was for my life. Mike and I made the decision early on that saving for Sam’s future is a priority in our family, too.
One of the ways to save for future higher education is to enroll in a Registered Education Savings Plan, also known as an RESP. Many Canadian families choose the Heritage Education Funds group plan because of its pooled fund strategy. All of the contributions made by plan holders are pooled together, along with applicable government grants (should the beneficiary qualify). The contributions are invested in fixed-income lower risk investments that typically earn a competitive return. Income on RESP savings is tax-sheltered until the plan matures, usually when a child is ready to pursue higher education, whereupon the money will be taxed at a student rate, and students typically pay very little to no tax.
This will help ensure your child doesn’t start their career with a huge debt to repay — quite the gift!
Even though I’ve wondered about it often, it’s too soon to tell what Sam will want to do as he matures. I don’t really think Superman will need a replacement. But whatever Sam chooses, I want him to be able to pursue what his heart desires.
Heritage Education Funds is currently offering a couple of sweet possibilities with their contest campaigns. They host an Annual RESP Draw where you can enter for a chance to win one of eight contributions of $2,500 toward a Heritage Education Funds RESP. That draw date is December 31, 2015, and there is no purchase necessary. Visit HeritageRESP.com/WinAnRESP for full contest details.
They also have a social media contest (#ShareHeritage) for an opportunity to win a $100 Mastercard gift card. All you have to do is tweet or share publicly an image of the front cover of any Heritage Education Funds collateral and/or marketing material with the #ShareHeritage hashtag between January 1st and December 31st, 2015 to enter to win. They draw one lucky winner every quarter of the year!
Start Early. Save Often. Stay Invested.™
™ A Trademark of Heritage Education Funds Inc.
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