Knowledge First Financial
Alberta

Contact: Gail Onderwater
Phone: 1.888.482.1223
Email: contact.onderwater@kff.ca

Nurturing a happy, healthy child from diapers to diplomas will take love, and lots of careful planning.  Learn about one financial decision you can make today that will have a lasting impact on your child’s future.

Knowledge First Financial

Diapers to diplomas.

Between now and the day your child graduates from high school, you will make countless decisions.  Breast or bottle.  Cloth or disposable.  Hockey or swimming.  When to start an allowance.  When to permit social media.  Large or small, each decision will be made with care and the same goal in mind – to nurture a happy, healthy child from diapers to diplomas.

Every parent would like to build a foundation from which their child can reach full potential.  Education is a cornerstone of that foundation.   Currently, two-thirds of all new jobs require a post-secondary education.[1] At the same time, the costs of education continue to rise.

Understanding the Basics.

Understanding the basics is critical to getting the right start to saving for your child's education. And there's a lot to consider:

-       The high cost of post-secondary education.

-       Knowing how to take advantage of tax-deferred income growth with a Registered Education Savings Plan.

-       A variety of government grants that can significantly increase the value of your savings.

What are your options?

Do nothing and perhaps limit your child’s possibilities.

Personal savings which may be needed for other priorities.

Borrow from a bank at high interest rates or from family or friends, who may not always be able to help.

Student Loans put a financial burden on your child.

An RESP gives you the benefit of tax-deferred income and additional funding from government grants.

What is an RESP?

An RESP is a government-registered savings vehicle for education. Just like with an RRSP, any income earned in an RESP is tax exempt until it is withdrawn – allowing your money to stay in the plan and grow significantly faster.

With an RESP, you can take advantage of the incredible power of tax-deferred savings.

Three simple steps can make a huge difference:

1.   Plan;

2.   Start early; and

3.   Save regularly.

Imagine the possibilities.

Before long, your baby will be out of diapers. Imagine the many joys that lie ahead and the ultimate satisfaction of seeing your child complete post-secondary education -- achieving the knowledge and skills for a lifetime of success.  By saving today, you’ll be in a better position to help with your child’s higher education tomorrow.

Did you know?
You will pay approximately $1,600 for baby food during the first year of your child’s life.  This is about the same as the cost of a student meal plan for a year at university!  Play www.diaperstodiplomas.ca/sr/491-22698  to learn other interesting facts.

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This article was provided by Knowledge First Financial Inc.  For nearly years, Knowledge First Financial has helped more than a half million Canadian families realize the possibilities that come with a post-secondary education.  Please visit www.knowledgefirstfinancial.ca for more information.

[1] Statistics as per www.pathwaytoprosperity.ca