| RESPs - Registered Education Savings Plan  What does your kid's future look like?- According to Statistics Canada, the cost of one year of post secondary education away from home is approximately $12,000.00. Within ten years, a four-year program may exceed $100,000.00, more than doubling in cost. With technology advancing so rapidly, by year 2010 more than 70% of the new jobs created will require at least five years of education and training beyond high school.
- A good education has become a necessity. Getting our kids off to the right start isn't only important, but it's going to become more expensive. We all want to do the right thing, so what's the best option? How can you prepare for the high cost of a good education and keep paying the hydro bill?
- Think about a Registered Education Savings Plan - RESP?
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- Like the RRSP, you can start saving for tomorrow while gaining a tax shelter at the same time.
- What happens when your kid grows up?
 - Most of us look at our children, from the moment they're born, and see so much potential. Maybe he'll be a lawyer. Maybe she'll be a doctor. What do you do if your child grows up and doesn't want to go to College or University? If she or he wants to travel across Europe for a year or two, you're safe. There are no age restrictions for enrollment. You have up to 25 years to earn tax sheltered growth in an RESP.
- After your child comes back from Europe and doesn't want to continue his or her education, you're still good. You can either transfer the funds to someone else, or put the unused RESP into your own RRSP or a spousal RRSP and continue earning.
- The future's so bright...
- Not only can you plan for a future so bright you'll all have to wear shades, you can get some help at tax time too.
- If you have questions or would like a price, email us, or call us today on our toll free line at 1-877-735-4487
- Jim Kinnell, President of Kinnell Insurance and Financial Inc. and has been dedicated to providing health and living benefits offering the best combination of quality and price and 'peace of mind'. Visit http://www.Kinnellinsurance.com or contact him by email at : jim@kinnellinsurance.com
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