Point is, RESP room can be carried over. After you utilized the RRSP aided home owner plan, you can catch up with your RESP contribution. Naturally I expect myself to have saved enough for downpayment well before I turn 65. As far as I know, you can't even borrow from RRSP if it's not you first home purchase. so the limitations are something you have to deal with anyway.

本文发表在 rolia.net 枫下论坛If your child is a new born, you have enough time to catch up with the RESP contribution, like make a lump sum contribution within the carry over period, when you feel more financially secure. But if you miss the tax benefit for house purchasing, you just miss it. If you are like rounder who don't have the luxury to buy all the good stuff at once, you need to prioritize according to your own situation.

For the membership fee, I haven't read Egg's terms.(Correct me if I am wrong,Egg. ) But if I have to make an intelligent guess, usually it will be designed in a way that only those who contribute the full amount can benefit from it. Say this year you only want to contribute $500 instead of $2000, under a pure management fee structure, you pay 1/4 of the management fees. But with the membership fee, you essentially are paying a flat annual fee (the interest on your membership) and a smaller variable part. So there is a financial dis-incentive for low contribution.

Finally I am not a trained financial advisor so don't take it as an experts opinion. If it can help you throw some good questions at your broker, I will be happy.更多精彩文章及讨论，请光临枫下论坛 rolia.net

1. Every year the government gives you $400 (or 20% of you investment, which is less).

2. The interest of that investment is tax-free (in fact, when your child uses these money, s/he will pay the tax, but since s/he has no other income, the tax rate is fare low)

And, it has some restrictions, for example,
1. No matter how much you buy, you can get at most 400 a year
2. Your kid must study at post-secondary school to be able to get these benefit. The restrictions are not the same on this, so check with your institution.
3. If you quit, you will lose a lot. Also, ask the salesman and be aware before you enroll.

Personally, I only want to get the 400 bonus, and don't care much about the interest. Select one of the largest institution.

My opinion, don't invest RESP in bank. To be frank, it's not a big amount of money, and don't need to spend too much effort on managing it. So, choose a large institution (like USC or CST) that are dedicated in RESP.

And, trust me, there are really little different among these biggest ones.

Pay attention to the terms on when/how you can quit, withdraw these money, and ask at least 3 agents before you buy.

原则上当然是收的，但是各个银行都有自己的小方针，免trustee fee就是期中的一种，因为我本身就在银行工作，接触的就是这类resp&rrsp以及各类基金，所以我知道有很多顾客的trustee fee 都是被免掉的