#YMCCommunity member, Paula Schuck is smart when it comes to investing and she's teaching her children how to do the same (her tween just bought her first stock!). If you aren't quite ready for stocks and playing the markets, there are gentler ways to give your child a start in finances, ways that will help pave the way to a first-class education, starting with RESP's.
Today my tween bought stock. It’s the latest step in our family's financial planning process, one that started with opening an RESP when she was an infant. I am both excited and nervous for her, but I know we are on the right path, teaching her respect for money and the things it can buy for you.
There are gentler ways to give your child a start in finances, ways that will help pave the way to a first class education. I am talking about Registered Education Savings Plans (RESPs), of course.
Childhood passes fast and you, as a parent, know that. One moment you might be choosing cribs, and the next it seems like you are ready to choose a university. But there’s a whole world of stuff in between and years of opportunity for investing if you pick the right tools to build your money.
So what are the right tools? What is the right financial path? How do you get started?
Here is what you need to look for in an RESP before you buy.
Time flies by in the blink of an eye. One day you’re worrying about sending your little one to preschool, the next you’re sending them off to college. That’s why it’s important to invest in an RESP now.
Start saving today with a giraffe & friends' no-fee, worry-free and 100% guaranteed RESP. giraffe & friends helps you sleep easy with guaranteed growth, easy-to understand language, and the powerful boost of government grants.
Visit the ‘How To Plan For Your Kid's Future’ page and learn the best ways for parents to save money, when you should start saving, and more.