RESP or registered education saving plan is something that has been around for some time and as per the plan, it helps people save money for their child’s education in several ways that are otherwise not possible. We will discuss them in detail later down the road, but for now, you only need to know that if you are looking to get money for your child’s education, then investing in these plans is actually a lot smarter.
If you need more information, you can head over to Knowledge First Financial reviews and check out the convenience you can get from that. With that out of the way, we are going to take a look at some of the advantages of RESP so you do not have to worry about whether this plan is good enough or not.
The Money is There For You
One of the biggest benefit of RESP plans is that the money is always there. This means that you do not have to worry about being locked out of your own money because that is not the case when it comes to RESP. The money is always there and it is there for your child’s education.
Withdraw Whenever You Want
Normally, most saving plans are not as good because they do not allow you to withdraw your own funds without creating some sort of issue. Same is not the situation with RESP because you can withdraw funds whenever you want. Sure, there are limitations based on different plans but in general, you will not have to face very strict ones, and you will still have control over your money. Something that happens to be great for people who are looking for the same control.