The Best Christmas Present – And What Is It Really Worth?

It’s that time of year again when kids drop hints at what they want for Christmas and TV advertising reinforces the message to buy more junk. Gift choices range from DVDs, to toys, to video games, electronics and new smartphones and can easily run into the $100′s of dollars.

Christmas will come and Christmas will go. The wrapping paper and boxes will be recycled and that “must have” gift or toy will give its 2 months of fun before being forgotten and left on a shelf to collect dust.

What are these fads and toys really worth? And how much could you give your kids by putting that same money into an RESP fund for their college or university education?

Here is a simple comparison of what you can do with $50, $100, $200, $500 or $1,000 in Christmas money. The money could buy some toys that will last a few months or they could set your children up on the right path for the rest of their lives.

(These examples are all 1-time deposits into an RESP account and assume saving until the child is 18 years old at a 5% annual rate of return plus the CESG grant from the government.)

So instead of enriching department stores and landfills by buying more “stuff”, enrich your child’s life forever with the gift of a post secondary education.

Contributing is easy. You can add funds, you can ask aunts, uncles and grand parents to give cash gifts this year rather than more toys and really make a good contribution for your child. If you like this option, you can also extend it to birthdays and other gift-giving occasions.

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• Simply “Schedule an Appointment” on the right side of this page or contact me and we can set up a convenient time.