Investing for education

Saving for post-secondary education is a relatively straightforward goal that anyone of any age can get involved in. But you will save more effectively if you first figure out:

  • roughly how much you need to save
  • how much you can afford to invest, given your other goals and financial obligations
  • what is the best way for you to invest

RESPs or Registered Education Savings Plans are a great way to invest because the federal government will deposit a percentage of certain amounts you contribute in the form of a Canadian Education Savings Grant (CESG). Certain provinces also have grant programs for beneficiaries who reside in that province.  Investment earnings won’t be taxed till the money is withdrawn.

Fidelity offers you

  • free administration on RESP accounts
  • a large selection of award-winning mutual funds to invest in
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