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Based on the information you provided you will need to save $0 to meet your education needs. You have a projected shortfall of $0 based on your projected contributions and earnings of $0 and $0 in government grants and earnings.
By starting early with your contributions, you can ensure that your child's post-secondary education needs are looked after.
Many investors don't have the time or expertise to build a diversified portfolio. CIBC Managed Portfolio Services is an All-In-One Fund Solution that is an easy and effective way to manage your money.
You may still be able to maximize your RESP contribution to take advantage of government incentives.
Still not enough? A student line of credit gives you access to a set amount of funds that can be used as needed.
You are well on your way to ensuring your child's post-secondary education needs are looked after. You may want to look at ways to make your excess funds work harder for you
Maximize your savings with the CIBC eAdvantage Savings Account that pays high interest when your balance is $5,000 or more.
About Registered Education Savings Plans
Take Advantage of the Canada Education Savings Grant
A Guide to Student Loans
An Overview of the Student Loan Process for Parents
Advantages of a Student Line of Credit
Education Line of Credit Calculator
Boost Your Savings With a Regular Investment Plan
Savings Guidelines: Build A Successful Savings Plan
Do you wish to copy the last child's information for the new child?
You are about to remove this child. Do you wish to continue?
Displays the marginal tax rate used to determine the after-tax growth of non-RESP investments used to fund your children's education. The marginal tax rate is the rate of tax paid on the next dollar of income earned.
Understanding yourself as an investor is one of the key considerations in creating an effective portfolio. Determine whether you are a conservative or an aggressive investor and develop a savings plan to match your unique profile.
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