Registered Education Savings Plans (RESPs)

At Lionspoint Financial Services, we understand that your child's education is one of your top priorities. A Registered Education Savings Plan (RESP) is a powerful tool to help you save for their post-secondary education while taking advantage of government grants and tax benefits along the way.

1. Government Grants
With an RESP, you could receive up to $7,200 in government grants, significantly boosting your child’s education fund.

2. Tax-Deferred Growth
The funds in an RESP grow tax-free until they’re withdrawn, giving you an edge in maximizing your savings.

3. Flexible Contribution Options
RESPs offer a range of investment options to suit your financial goals, allowing you to tailor contributions based on what works best for your family.

4. Secure Their Educational Journey
Whether your child plans to attend college, university, or a trade school, an RESP provides the financial security they need to pursue their dreams without unnecessary financial stress.

Opening an RESP is straightforward:

1. Open an Account: Choose an RESP provider, such as Lionspoint Financial Services, and open an account with a low initial investment.
2. Contribute Regularly: Add funds at your own pace. Whether monthly or annually, every dollar helps your child's education fund grow.
3. Receive Grants: Qualify for government grants that will match your contributions up to specific limits.
4. Withdraw When Needed: When your child is ready for post-secondary education, the funds can be used for tuition, books, and more.