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An RESP with SmartFolio can help you save for your child's future

Start Investing Today

  • Enjoy the security and assurance of a professionally-managed ETF portfolio
  • Get the benefits of tax-sheltered investment growth
  • Maximize savings to invest in your child’s future education

Your contributions and earnings are tax-sheltered so the money goes to your child’s education.

Did you know that today, a four year university degree could cost up to $60,000 and by 2021, that same degree could cost at least $100,000? Let’s face it; your child’s education is going to cost a lot1.

That’s why starting a Registered Education Savings Plan (RESP) is a smart way to maximize education savings. Tax-sheltered investment growth and eligibility for government grants can make a big contribution to your savings – and your child's future.

If you’re looking for a way to power up your child’s education fund, consider opening an RESP account with SmartFolio. Let’s have a look at the potential savings power you’ll have to put toward your child’s higher learning.

How an RESP account works with SmartFolio

Before we dig deeper into the RESP, here’s just some of the benefits found in a SmartFolio portfolio:

  • You’re matched with an ETF (Exchange Traded Funds) portfolio that suits your goals and level of risk tolerance
  • Your portfolio is managed by a team of investment professionals that adjust your holdings to take advantage of market movement
  • 24/7 access to your portfolio’s ETF performance and holdings, from any device
  • You can set up regular contributions to make saving easier and to stay on track

Now, here’s where all of this can help boost your education savings potential if you open a SmartFolio RESP account:

  • Your contributions and earnings are tax-sheltered so the money goes to your child’s education
  • Through the Canada Education Savings Grant (CESG), you’re eligible for an annual government top up of 20% to a maximum of $500
  • You are eligible for other incentives including bonds and grants depending on what province live in

So, let’s do the math. You get the benefits of a managed, hands-off investment portfolio with tax-sheltered earnings, along with government grants, bonds and top ups. Plus, you can open your plan for an individual child or a flexible family plan. Those savings really add up!

Finally, your SmartFolio RESP account has low annual fees and you can open your account online in as little as 15 minutes – no need to visit a branch. How’s that for convenience?

Your contributions and earnings are tax-sheltered so the money goes to your child’s education.

An RESP account with SmartFolio equals an A+ in education savings potential

Get a head start on saving for your child’s education with a SmartFolio RESP account by making regular contributions, and taking advantage of federal and provincial financing options. Also, remember to set up automatic savings through recurring contributions – just set it and forget it.

After all, saving for your child’s education is one of the best investments you’ll ever make. Start today!

Ready to start investing?

Open your SmartFolio account and let us help you reach your financial goals. Start by getting matched with an ETF Portfolio.

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Feel free to send us a note, but please don’t send account numbers and/or passwords.

smart.folio@bmo.com

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Have a BMO SmartFolio Representative contact you.

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8:00 a.m. - 8:00 p.m ET
Monday to Friday

1-844-895-3721

  1. Figures are provided by BMO Bank of Montreal Economics Department in conjunction with the Association of Universities and Colleges of Canada (AUCC). Figures are based on a national average for a four-year university degree for a student using accommodations away from home and include the costs of tuition, books, room and meals. Figures are provided for illustrative purposes only and are not intended to represent the actual current and/or future costs of education and should not be relied on for this purpose.