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6 Ways to Invest for Your Children's Success! (There's more than RESPs)

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Congratulations!!!  Welcome to parenthood!   Everyone reacts differently to this phase of life.  We were shocked by how much unconditional love we had for our children when they entered the world – who else would you throw yourself in front of a bus for?  When Rowen, our first born arrived, we unwisely threw $10K into a scholarship RESP out of pure emotion.  5 years later that $10K is now $9373 due to fees and charges.  I’m writing this article so you don’t make the same mistakes we made, and to ensure you that there are several ways to save for your child’s success, even if post-secondary school is not in the cards.  If you are lucky enough to have $10k, there's a better way to invest than we did, but even $50 - $100/month can make a HUGE difference!! Option #1 – RESP (Registered Education Savings Plan) – Growth Plan Pros:   Government matches 20%, 30% or 40% and investment can take advantage of compound growth. Catch : Grant can only be used for post-secondary edu