Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Break Free from RESP Limitations

19 Sept 2024 · 1 min

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Richard Canfield argues that RESP government grants of 20% and extra funds of $5,000 to $7,000 don't meaningfully increase a child's odds of going to college. He calls RESP money effectively trapped by plan rules and explores alternatives that keep the same discipline without the constraints.

Questions this video answers

20%

Approximately $5,000 and $7,000

Chapters

The process that started it. That from a child that's born is put into our espn. Like Richard, you're talking about the money gets essentially trapped in prison in here. And this is kind of the part that we wanted to expand the discussion to highlight that there's another way of doing things with the same discipline in what was already being done.
I feel like we all get caught up in the government portion. Everybody, oh, it's free. 20%. We're also caught up on this 20%. But at the end of the day, I mean, the extra $5,000, 7,000 maybe, is it really going to impact whether or not they go to post secondary education and whether or not you're going to be able to afford it?