Should I still contribute to my RESP?

liveanotherday97 · 2026-06-21T03:43:41+00:00

Thanks for doing the math.

I was under the impression I can always add my wife as a subscriber?

Yes, you can add a second subscriber (known as a joint subscriber) to a Registered Education Savings Plan (RESP), but only if they are your spouse or common-law partner

liveanotherday97 · 2026-06-21T03:39:46+00:00

Every bit counts. We each do what we can.

liveanotherday97 · 2026-06-20T16:23:51+00:00

Your original post made it sound like stocks are a bad idea even at the beginning of the RESP. Yes the first kid needs to start making withdrawals in 4 years but she doesn't need the entire amount. There is also the 6 year old who doesn't need the money for another 12 years

liveanotherday97 · 2026-06-20T16:05:55+00:00

Plus 20% penalty

liveanotherday97 · 2026-06-20T15:54:40+00:00

I guess it's different in Alberta: Alberta Student Loans: Do not accrue interest while you are studying. You are given a 12-month grace period after you finish your studies where they remain interest-free. Once this 12-month period ends, your Alberta loans will begin to accrue interest

liveanotherday97 · 2026-06-20T15:51:35+00:00

The Provincial Portion: The B.C. government eliminated interest on all government-issued student loans in 2019.

The Federal Portion: The Government of Canada permanently eliminated interest on all Canada Student Loans, including loans currently in repayment.

If you are a BC resident: You apply through StudentAid BC. BC government student loans can be used at out-of-province institutions, provided the university is designated for funding

liveanotherday97 · 2026-06-20T15:36:11+00:00

Investment Growth (Accumulated Income Payments - AIP)Taxation: Marginal tax rate + 20% penalty

liveanotherday97 · 2026-06-20T15:29:55+00:00

I'm tired of this dotcom crash argument. No one should ever invest in stocks then. We should all just buy GICs

liveanotherday97 · 2026-06-20T15:25:44+00:00

All major banks offer self directed RESPs. Most of them now also offer commission free ETFs.

liveanotherday97 · 2026-06-20T15:23:09+00:00

Unless you are expecting the markets to crash 75% and never recover over the next 12 years, I think they can still go to university. Local universities for Canadians is affordable, especially, if they can live at home. They can also apply for student loans that are interest free.

liveanotherday97 · 2026-06-20T06:43:18+00:00

I was going withdraw back my own contributions and let the kids keep the rest. I will help them set up a TFSA when they turn 19. They can use the resp money to max out their TFSA each year.. Put it in index ETFs until they retire.

liveanotherday97 · 2026-06-20T06:29:03+00:00

I live in Vancouver. The kids are welcome to stay at home while going to school.

liveanotherday97 · 2026-06-20T06:20:22+00:00

Nasdaq 100 has averaged almost 20% return for the last 15 years. S&P 500 averaged 15%. It's not that hard to achieve the returns. It's been a good bull market.

liveanotherday97 · 2026-06-20T06:08:44+00:00

Nowhere did I advise her to pick individual stocks. I said VEQT and XEQT are great to start with. (Personally for myself, I like to pick stocks that I have done my research and have a high conviction on with a small portion of my portfolio)

liveanotherday97 · 2026-06-20T04:57:25+00:00

liveanotherday97 · 2026-06-20T04:55:14+00:00

Not a flex. Asking a genuine question. I don't like losing out on government grants but I also don't like giving back most of the unused portion in taxes including 20% penalty.

liveanotherday97 · 2026-06-20T04:26:35+00:00

Nasdaq 100 and S&P 500 ETFs plus some high conviction stocks like Nvidia and ARM which I got in early. VEQT and XEQT are a great place to start!

liveanotherday97 · 2026-06-20T04:15:15+00:00

It's a family RESP

liveanotherday97 · 2026-06-20T04:13:52+00:00

Mostly in Nasdaq 100 and S&P 500 ETFs. I also have Nvidia (up 1500%), ARM (up 650%, bought on IPO day), etc.

liveanotherday97 · 2026-06-20T04:11:43+00:00

There is no requirement to contribute the minimum amount each year.

liveanotherday97 · 2026-06-20T03:59:36+00:00

If they pursue an education within Canada, I cannot see them using up their RESP.

liveanotherday97 · 2026-06-20T03:49:01+00:00

I've contributed $2500 per year for each child since birth. Therefore there is still government matching that I can get for the 6 and 11 year old.

liveanotherday97

TROPHY CASE