Life is like a jar of golf balls

Here is an apocryphal story for you.  Its veracity may be questionable, but its impact and utility are not.   A university professor enters a classroom full of students carrying a box which he puts on the floor.  He pulls a large glass jar out of the box and puts it on his desk.  Then he reaches back into the box…

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How to make the most of an RESP

We learned all about RESPs in our last post.  Now comes the fun part: what is the best way to save in an RESP?First, a quick review of the basic RESP rules.RESP rules -  the quick and dirtyRESP contributions are made with after-tax dollars - i.e. unlike RRSPs, there is no tax deduction for RESP contributionsThe government will top-up contributions…

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A doctor’s guide to RESPs

Having children means planning for their future.  Aside from being raised in a loving and supportive environment, one of the best things we can do for our children’s long-term success is to give them the means to access the educational paths they will need.  Since the federal government changed the rules around professional corporations in 2018, essentially disallowing dividends to…

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