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The RESP Book - The Simple Guide to Registered Education Savings Plans for Canadians [Kindle Edition]

Mike Holman
4.8 out of 5 stars  See all reviews (21 customer reviews)

Print List Price: CDN$ 19.88
Kindle Price: CDN$ 9.99 includes free international wireless delivery via Amazon Whispernet
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Product Description

Product Description

Set up your child's RESP the quick and easy way with this short, easy to read RESP guide.


"It’s About Time. Mike Holman of the MoneySmarts blog has filled one of the very few remaining holes in the Canadian personal finance bookshelf with a new book on registered retirement education plans." ~ Rob Carrick, Globe and Mail

"Personal finance writer and author Mike Holman clearly explains all the ins and outs of RESPs in his book." ~ Michael James, Finance blogger

"It’s like a breath of fresh air for information starved people looking for an RESP. It took me about 2 hours to read (I read at the speed of light) and had all the information it took me 6 months to learn. Every single thing you need to know about RESP’s is in there, written in an easy to understand manner, instead of in 9pt type by a lawyer." ~ Rachelle Berube - Real Estate blogger

Topics covered in this book include:

- How to set up an RESP account
- RESP contribution rules with examples
- RESP withdrawal rules and strategies with examples
- How to avoid penalties if child does not attend school
- How to invest inside an RESP

About the Author Mike Holman has worked in the Canadian financial industry for almost two decades.

Mike runs the popular Canadian personal finance website which was nominated by the Globe and Mail as one of the best money blogs in Canada.

About the Author

Mike Holman has worked in the Canadian financial industry for almost two decades.

Mike runs the popular Canadian personal finance website which was nominated by the Globe and Mail as one of the best money blogs in Canada.

Product Details

  • Format: Kindle Edition
  • File Size: 255 KB
  • Print Length: 155 pages
  • Publisher: Money Smarts Publishing; 1 edition (Feb. 2 2012)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B00757IESG
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Enhanced Typesetting: Enabled
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (21 customer reviews)
  • Amazon Bestsellers Rank: #54,246 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

4.8 out of 5 stars
4.8 out of 5 stars
Most helpful customer reviews
5.0 out of 5 stars Really good read I like this book July 23 2015
Really good read I like this book. I typically try to read one financial book a year. I’m satisfied I picked this one.
Admittedly I never knew a lot about RESPs prior to reading this book. I had just heard “Things” mostly from people who didn’t know either. Always best to get information from the experts.
It wasn’t too terribly hard to understand. Of course those with good financial literacy will take to the information quicker. However if you don’t have a lot of financial literacy you can still get the information from this book it might take a little longer that’s all. It’s not rocket science that’s for sure.
We were able to develop a good investment strategy that works for us. We also have a good exit plan and a good backup plan is our son doesn’t go to college or university.
We’ve been taking advantage of the governments matching of RESP contributions. It’s about $42 dollars a month for your $210 contribution (Up to lifetime max up to 7/8K something like that). That’s about the max you can get per year.
The book more than paid for itself in the first month.
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5.0 out of 5 stars The Definitive RESP Guide Nov. 2 2010
By 2 Cents
Mike Holman has done us all a favour by offering us The RESP Book: The Complete Guide to Registered Education Savings Plans for Canadians. The book offers detailed information on how to go about setting up an RESP account, from choosing a financial institution to whether or not to use a professional investment advisor. He goes over what to watch out for in terms of fees, as well as basic investing tips like how to set an asset allocation.

There are a lot of rules to be aware of when you're setting up, managing and getting ready to withdraw your money from an RESP, and Mike has answered just about every question you might have. At 118 pages, this book won't take you long to read, but it's absolutely full of detailed information that's pretty hard to remember from year to year. It's greatest value may lie in its usefulness as a reference manual. You can turn to it a couple of times a year to quickly refresh your memory on the ins and outs of saving for your child's education.

I could have found this information on the government's website, but frankly, it's not always written in an easy-to-understand way. The RESP Book is. There are lots of different examples and specific case studies so that you can really get a grip on how the RESP rules work. If you have an RESP or plan on setting one up, this book is required reading.
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4.0 out of 5 stars Digestible in a four hour plane ride Feb. 19 2014
This is about 137 pages, with close to 37 of those pages being blank pages or just chapter headings, and a lot of space wasting throughout. Considering the length of the book, it seems fairly costly.

That said, this book offers tips that could save you thousands of dollars in the long run. Besides covering the basics of why you should (or shouldn't) start an RESP and how to go about opening the account, Holman explains the ins and outs of contributions and grants, and briefly introduces concepts such as the investment time horizon and investor comfort levels. Possibly the best section, Holman also explains how to get the most out of the RESP if the beneficiary does not go to post-secondary.

The book also includes a chapter each for additional programs available to Alberta, Quebec, and low-income families.
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5.0 out of 5 stars Just what I was looking for! Oct. 19 2010
As a new mom of a 6-month-old, I knew that it was important to start a RESP for my baby, but was unsure about where to begin. This book was exactly what I was looking for as it is written specifically for Canadians. In short, the book provides a concise, comprehensive look at RESPs with specific and detailed examples of help to a novice or sophisticated investor.

I had dreaded flipping through a thick, complicated, textbook-style manual on financial investing and was very happy to find a book written in such a concise, easy-to-read style. I also really appreciated that Mike Holman is not afraid to give his opinion about such things as group plans or situations when a RESP is not advisable.

I would highly recommend this book to anyone, most especially first-time parents!
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Format:Paperback|Verified Purchase
This was a very well laid out book and a very easy make it even more useful the author supplied a summary of each chapter.There were very important issues raised that all of us who have these financial instruments need to know and even tho' I had researched the subject I still got valuable info .
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5.0 out of 5 stars A must-read for every parent March 24 2013
By Krista
This book is an excellent resource for any parent (or any Canadian) opening a RESP for a child or family. Mike does a superb job summarizing the ins & outs of opening, contributing and withdrawing from RESPs, including the tax implications and investment options. I highly recommend this book!
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5.0 out of 5 stars Everything you ever wanted to know about RESP Jan. 3 2013
Format:Paperback|Verified Purchase
If you have kids or plan on having some in the near future I highly recommend you read this book. You will understand exactly how the RESP works and be able to fully take advantage of it. The book is easy to read and understand. The price of the book is worth it for sure.
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An up-to-date guide to RESP's for Canadians, I found it very helpful. I don't know very much about investing or saving and this book breaks down the different types of RESP's and their pros and cons in an easy to understand way. Definitely worth getting for new parents.
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