A Registered Education Savings Plan, or “RESP” since people love using acronyms when talking about personal finance, is a savings account that can be used to save for a child’s post-secondary education. How does it work, and what is the benefit? Money going in (contributions) do NOT generate a tax deduction (similar to a TFSA). […]
Category: Investing
My Take on Rental Properties
This is one of those posts that might stir the pot in the financial independence community. I want to be clear that I am certainly not opposed to real estate investing, I just think that people need to be careful and fully aware of the various risks associated with real estate investing before they dive […]
The Magic of Compound Interest
I first learnt about compound interest as a kid. My Uncle taught me this concept while our family was visiting him and my Auntie during summer vacation. I was fascinated. I spent the rest of the week with a calculator, a pen, and paper, performing countless manual calculations on how much $1,000 would be worth […]