cynthia.builds
Region: CA
Tuesday 18 August 2026 02:58:03 GMT
42079
1976
35
773
Music
Download
Comments
Manifestation Queen :
For a family RESP for two children I need to contribute 72,000 total to get the maximum grant for both right
2026-08-18 19:37:58
0
pumphreyr :
Are you self managing this one of having it managed by Wealthsimple? Thanks:)!
2026-08-18 16:54:10
1
Soovy_C :
🤣 As a kid who’s parents have done the same thing. One thing she isn’t saying is that the portion the gouvernement gives is considered as an income for the child later on. Basically, meaning that the child will have to pay taxes on the amount given by the gouvernment. The child can withdraw either the money the parents contributed (which is deductible when declaring taxes for the parents) or the one from the gouvernement. So if the parents put 13k and the gouvernement puts 12k. If the child decides to take out the 13k in the year 2033 (just an example), it won’t be considered as an income for the year 2033. The income will be 0$ for 2033. Since the parents contribution has drained out, The child has no choice of taking the 12k for the following year (2034). When declaring the income, let’s say the child made 3k in employment. The child has to add the 12k to the 3k (making an income of 15k for 2034). So eventually the child would have to pay taxes on the 12k. Just letting people know about this.
2026-08-18 21:29:44
10
Name :
What if they don’t go to higher education
2026-08-18 20:55:00
0
Stef :
my son is 13$ and he has close to 16k in his account so far. I did 50$/month when he was a baby and now do 75$/month
2026-08-19 01:59:33
1
🤷🏽♀️💯 :
100k won’t be enough the way things are looking
2026-08-19 00:13:50
1
Elyse 🇨🇦 :
We are planning on doing this too! I met a parent who didn’t know this existed the other day, so it’s good that you’re talking about it!!
2026-08-18 10:26:36
56
Milodsx :
I have 5 kids can I have 5 different accounts?
2026-08-18 14:15:34
7
biryanilover16 :
Shouldn’t you front load with a bigger amount to allow for max run time while maintaining enough to contribute the $2500 annually to get the annual government assistance?
2026-08-18 12:28:42
1
Gottabekdene :
Put the max in each time. Worth it for the kiddos.
2026-08-18 17:49:53
2
Hopscotchenthusiast :
Could you perhaps go into detail (if you know) what happens if your child chooses to pursue education that doesn’t cost $$$, what happens to the left over funds?
2026-08-18 19:25:33
0
Angharad :
Where are you getting the 7% from? Commonly it’s 4-6%..
2026-08-18 20:47:38
0
Oyin’s kitchen moi moi :
Please is this for Permanent Resident Holder? We were told it only for those. Have always wanted to open this account
2026-08-18 15:48:45
0
choco :
DO NOT GO WITH CST. they robbed my grandparents
2026-08-18 17:31:37
1
clattash ™️ :
The kid has to claim the RESP income on their return though, I’ve seen this a lot. So just be prepared for them
2026-08-18 19:56:03
0
MymyMya :
I don't have a child yet, but I watched the whole thing lol🥰
2026-08-18 23:12:39
0
shobs :
So informative! I hope more parents are doing this for their babies now
2026-08-18 15:24:41
0
Wonderer :
What if you leave canada for a while lets say 1/2 years can u still invest
2026-08-18 16:53:32
0
Abbira Vijay :
So informative!!!
2026-08-18 18:07:08
0
RastaLankan :
XEQT 🔥
2026-08-18 03:28:59
2
To see more videos from user @cynthia.builds, please go to the Tikwm
homepage.
