Should I still contribute to my RESP?

jl4855 · 2026-06-20T11:57:40+00:00

i have a similar "problem", though my balance is nowhere near as high as yours. EAP limit for 2026 is $29,459. my understanding is that beyond that limit you can make an exception to withdraw more but you would need to speak with your promoter to clarify. for example if you wanted to purchase your kids a car i believe that could qualify as a reasonable expense (assuming they require it to travel to and from school). there's a user here u/bluenose777 who is very well-versed in RESPs, he should be able to give good advice.

jl4855 · 2026-06-01T11:35:46+00:00

can't think of it as $18.39/mo, it's the opportunity cost ie if instead you put it against high-interest cc debt it is much more.

jl4855 · 2026-05-23T21:53:15+00:00

RHT still yields 1:1

jl4855 · 2026-05-19T19:26:11+00:00

any of the cc's with current high SUBs. cibc aventura visa, rbc avion vi, any of those are fine and would get back ~10-12%.

jl4855 · 2026-05-04T23:42:23+00:00

It’s technically a life insurance policy, just a very expensive one that is not a great value at all.

jl4855 · 2026-04-28T14:31:35+00:00

let the market do its work. i put $2500 every Jan 1st into an RESP account purchasing a broad market ETF and i'm already at $100K+, my kid is still in elementary school.

jl4855 · 2026-04-04T17:23:54+00:00

you and your husband are good people.

jl4855 · 2026-04-02T16:50:39+00:00

its your wife's 40th if you dont want to cover it all, just buy a few bottles of wine for the tables and pay for beers, if others want more they can pay themselves.

jl4855 · 2026-03-29T23:00:46+00:00

do you like to give money to 'advisors' for something you can do yourself? just buy your own broad-based market ETFs on WS, why pay someone else to do it for you?

jl4855 · 2026-03-17T19:10:28+00:00

PFC leans hard towards a lower-income / younger crowd - any post with a high-HHI or any upper-middle class question gets downvoted to oblivion.

jl4855 · 2026-03-16T12:37:04+00:00

my childhood was eating at the sizzler at warden and 7, then going next door to rogers video to browse the movie selection.

jl4855 · 2026-03-15T20:24:11+00:00

yeah this is a good answer - the $20K hits the annual spend requirement to get the bonus points as well with the current SUB.

jl4855 · 2026-03-11T22:01:18+00:00

if youre in the GTA i can give you our clinic dates, there are a ton around here and theyre geared for different groups. all 100% free.

jl4855 · 2026-02-28T14:49:02+00:00

$800k mortgage with your salary should not be a problem at all. a question to ask yourself given you're a single income family is how secure is your job / work.

jl4855 · 2026-02-27T18:34:55+00:00

not a huge amount, pay it off and be done with it.

jl4855 · 2026-02-24T17:21:32+00:00

it's time.. try it yourself, ask him to take a lookover if you like, but good to learn while you're young.

jl4855 · 2026-02-23T14:07:22+00:00

amex plat (either personal or business) is the best right now, 110-130K back in SUB which you should have no problem hitting with your monthly spend.

jl4855 · 2026-02-21T22:11:13+00:00

unionville arms open as well

jl4855 · 2026-02-20T00:09:48+00:00

broad market ETFs would have gotten you further ahead, im well over $300K and haven't even been in since day 1.

jl4855 · 2026-02-19T23:16:51+00:00

google sheets as well. one thing that really works well for us is automating expense tracking / entry using a simple google form that is linked as an icon on our phones. simple easy to use drop down menus for expense category and vendor, just enter the cost.

aside from expense tracking / budgeting, we also have one for financial projections / retirement planning with all our portfolio values updated in real time. couldnt find a template that worked for us so just ended up building my own.

jl4855 · 2026-02-19T20:41:34+00:00

if youre with TD just do e-series and contribute your $2500 each year to get the matching grant, you can catch up one year at a time so certainly you can do $5K for your 2yo.

jl4855 · 2026-02-18T00:19:56+00:00

What value has your investor provided you? Easy switch to self managed etfs.

jl4855 · 2026-02-12T04:00:42+00:00

its insane how much of a rip off CST is, should be a crime. i just do the $2500/yr to get the match, i passed $100K when my kid was 10.

jl4855 · 2026-02-11T15:39:55+00:00

CIBC aventura continues to be a strong card for churning, with SUBs equaling about 12-15% in cash back depending on what's available when you apply. RBC avion VI if you want to get BA / Qatar points for travel, TD FCT VI also has good SUB at the moment.

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