{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Money Questions","title":"The RESP Survival Guide","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/316f1fae\"></iframe>","width":"100%","height":180,"duration":2301,"description":"How does a Registered Education Savings Plan (RESP) work, and how can Canadian families make the most of it? In this episode of Money Questions, Matthew McGowan and Nathan England share an RESP survival guide, from saving for rising post-secondary costs to understanding government education grants and the Canada Learning Bond.\nThey discuss RESP contribution strategies, including monthly contributions and lump-sum investing; how to choose investments as a child gets closer to school; and what families should know when withdrawing money. Learn the difference between Educational Assistance Payments (EAPs) and Post-Secondary Education (PSE) contributions, why proof of enrollment matters, and how to avoid common RESP withdrawal mistakes. The conversation also covers group RESP providers, unused RESP funds, sibling transfers, transferring eligible funds to an RRSP or Registered Disability Savings Plan (RDSP), and what can happen when RESP money is withdrawn for non-educational purposes.\nA practical conversation about RESPs in Canada, education savings, government grants, taxes, investment timelines, and planning for a child’s post-secondary education.\n\n00:00 Money Questions\n00:44 The RESP survival guide\n04:32 RESP basics and government grants\n07:13 Canada Learning Bond\n10:34 Catch-up contributions\n12:13 Group RESP providers\n14:09 Lump-sum or monthly contributions?\n19:55 The RESP investment timeline\n23:47 Withdrawing RESP funds\n25:35 EAPs, PSE contributions, and withdrawal limits\n26:32 Proof of enrollment\n29:00 A common RESP withdrawal mistake\n30:05 What happens to leftover RESP funds?\n33:20 Withdrawals for non-educational purposes\n34:38 What can you invest in through an RESP?\n35:37 RESP funds and disability planning\n38:12 Investing in yourself\nTo learn more, visit: https://www.evangelinewealth.com/\nDISCLAIMER: The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal...","thumbnail_url":"https://img.transistorcdn.com/80xHWJv-eUp-4fNPTORyJy71SJwTauPmemz-84Hheig/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xMTlk/NDliOWQyMjI0MDMy/MTI0MTAyNThhNmYz/YjRmMS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}