Got an RESP question from a friend of mine which might be of use to some people: Hi Mike.  I started RESP for 10-year old son last August 2012 – contributed $5000 down + set up automatic withdrawals for $200/month for August, September, October, November, December 2012 (5months x 200=$1000). I rec’d a government grant […]


An RESP question I frequently get at this time of year is along the lines of: “I maxed out my child’s RESP grant last year in [insert month here] – do I have to wait 12 months from that time to get more grants?”. In other words – they want to know when a new […]

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Reader Bryan sent in the following question: I opened an RESP the month after my son was born, and I have been diligently contributing such that my contributions will nearly reach the maximum amount that the government will match by 20%, and the extra room has been filled with money my son has received as […]


George asks: I bought your RESP book and have been a long-time reader of your blog. I have a question I’m hoping you can help me with, but it you don’t have time I totally understand. My question is this: at what point is an RESP ‘big enough’ that we should discontinue contributing to it? […]


Anne writes: Looking for advice… We have three children ages 7, 5 and 3. We have a family account RESP setup through Nesbitt Burns but need to switch advisors. We have no other affiliation with Nesbitt Burns and therefore are looking into transferring our account to one of the major banks. I have 3 questions: […]


Reader Lloyd had an RESP withdrawal question about how contribution money and non-contribution money can be distributed to different beneficiaries: Hello Mike, I’m trying to find information about how RESP withdrawals work. Can a family plan pay all contributions to one beneficiary and all the EAP to another beneficiary? I’ve tried searching all over different […]

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Leah asked the following RESP question: When my daughter was 6 in 1999 she did some acting and her dad put $21,000 in an RESP with his name as subscriber and her name and her two younger brothers as beneficiaries. The fund dropped dramatically (Science and Technology) and years later she is almost 19, studying […]


Part of the Canadian RESP program is a grant, inappropriately named the Canada Learning Bond (CLB).  The “Canada Learning” makes sense, but I have no idea why the word “bond” was used. In actual fact the CLB is a grant and the big difference between this grant and the regular RESP grants is that no […]