le 2 novembre 2010
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.
le 19 octobre 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!
le 24 mars 2013
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!