Individual vs. Family RESP
Author: Sound Choices
September 2, 2020
Do you know the difference?
The content in the below article is meant for Canadian investors only.
There are two main types of RESP – and which one you choose often depends on your relationship to the beneficiary:
- An Individual RESP can be opened by anyone for anyone.
- A Family RESP can be opened by parents or grandparents of the children and can be withdrawn in the name of any beneficiary named to the plan.
|INDIVIDUAL RESP||FAMILY RESP|
|Recommended for:||Recommended for:
Ask your financial advisor today about how to get started with education savings, or visit AGF.com/RESP.
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