Small Steps, Big Futures: Investing in Our Children’s Education
It’s enrolment season once again. Over the past few weeks, I’ve been helping families set up and withdraw from their Registered Education Savings Plans (RESPs) and once again I am reminded why I truly appreciate this financial tool.
Every time I see a parent take this step for their child, I can’t help but salute them. I believe that setting up an RESP isn’t just about saving money, it’s about securing a child’s future and giving them the gift of opportunities. As a financial advisor and as a parent myself, I know how much courage, love and foresight it takes to plan ahead for our children.
I am a strong believer that education is very important, I always believed in the power of education. For me it is one of the few things in life that no one can ever take away from us. That’s why, as parents, one of the greatest legacies we can give is to support our kids in reaching their dreams—whether they want to become nurses, engineers, artists, doctors or entrepreneurs.
And while we know there are student loans and financial aid programs available, I believe giving our children a head start no matter how small makes a world of difference. Even the smallest contributions to an RESP today can grow into something meaningful tomorrow.
When parents open an RESP, they’re not just setting aside money for their child’s tuition, they’re also opening the door to extra help from the government that their child would otherwise miss out on. For every dollar we set aside, the government can add extra money through programs like the Canada Education Savings Grant (CESG). The CESG can add up to 20% on top of what we contributed that means if you save $1,000, the government can give you an extra $200—free money towards your child’s education.
“Every RESP contribution is more than money—it’s love, belief and a promise to our children’s future.”
Over the years, these contributions and grants can really add up, giving your child a much stronger financial start when it comes time for college or university. So an RESP isn’t just about saving, it’s about maximizing what you can give your child by taking advantage of benefits that are already available to you. This also means our savings work harder, and our children have a better chance of stepping into adulthood with less financial burden. Every RESP contribution is more than money, it’s love, commitment, and belief in our child’s potential.
Every time I meet a mom or dad setting up an RESP, I see the same promise in their eyes: “I will do what I can to help you become who you want to be.”
Don’t get me wrong, I didn’t mean that we will carry the whole load for them, but even helping them get started is a powerful act of love. It tells our kids:
We believe in them…
We support their dreams…
We want to give them the freedom to focus on learning, not just worrying about finances…
My Salute to Parents
To all the parents who have already taken this step, I salute you. You are doing something truly life-changing, not just for your children, but for the generations that will follow.
And to those who are still thinking about it: it’s never too early and it’s never too late. Starting an RESP today is one of the simplest yet most powerful ways you can invest in your child’s future.
“Even the smallest start today can grow into a world of opportunities tomorrow.”
As a financial advisor, I can share all the technical reasons why RESPs make sense. But as a parent, my message is much simpler: education changes lives. Helping our children take that journey with a little more support is one of the best gifts we can ever give.
So this enrolment season, let’s plant those seeds of hope and possibility. Because one day, when our children walk across that stage to receive their diploma, we’ll know, we helped make that moment possible.
