RESP targets

[Tik-Tok]

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AI will make university professors obselete! ChatPHD to the moon!

FTFY. The teachers will be AI, but university costs will remain the same, because upkeep of AI infrastructure and stuff.

[suntan]

$788.25 for tuition my first semester at the U of C. 1991.

[dirtsniffer]

Hopefully we will be able to pay for most of my kids schooling.. but it sure as shit won't be some arts degree. I'd rather give them the money as a downpayment on a house or a start to an rrsp in that case.

[suntan]

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Hopefully we will be able to pay for most of my kids scooling.. but it sure as shit won't be some arts degree. I'd rather give them the money as a downpayment on a house or a start to an rrsp in that case.

$100K lump sum for 40 years @ 6% = $1.095MM

Might be better investment.

[Xtrema]

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$100K lump sum for 40 years @ 6% = $1.095MM

Might be better investment.

Well, $1M will probably buy you a Kia in 40 years.

[Manhattan]

At least schools are starting to charge lower tuition for faculties with lower earning potential

[ExtraSlow]

I'm most impressed with the people that get true art degrees. Beating those idiot teachers handily.

[bjstare]

Wasting money on a formal study to confirm that people regret wasting money on a useless degree is kinda funny. It was probably someone in a "physical & life sciences" faculty. So meta.

[chongkee_]

So where's everybody dumping their RESP into?
VGRO and be done with it?

[suntan]

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Well, $1M will probably buy you a Kia in 40 years.

In that case you need to save ASAP, so it's still better to stash money and borrow for education instead.

[ganesh]

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So where's everybody dumping their RESP into?
VGRO and be done with it?

Our daughters RESP is Split into TD Dividend Growth and TD Science and Tech .
During Covid we did the switch.
TD Science and tech is not doing good right now. Down 28%.
TD Dividend Growth is up 38%
We are keep on putting more into TD science and Tech and eventually we hop it bounces back

[ctochico]

im done with resp, putting money into insurance and then borrow instead, more flexibility as to what can happen in future in case school isn't what they want

school 15-20 years from now, will they even go? is it even needed for what they want to be? kids these days aren't even thinking about school to make money, they want quick easy money. they don't go to school, then the grants are [email protected]

[ExtraSlow]

Resp works for a lot more than just 4-year university though.

[killramos]

So worst case ontario you are in the same place you are without the grants after paying them back. Best case you get a pile of free money and preferential tax treatment.

What a scam

[ExtraSlow]

I can understand the argument for not contributing any more than required to get the max grants. At that point there are other options. But you want those grants.

Even going into the trades etc you can use resp money. My nice used hers for fucking esthetician school. (and has turned that into a shockingly good career, much to my surprise)

[killramos]

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I can understand the argument for not contributing any more than required to get the max grants. At that point there are other options. But you want those grants.

Even going into the trades etc you can use resp money. My nice used hers for fucking esthetician school. (and has turned that into a shockingly good career, much to my surprise)

That’s got to come in handy for the OF

[ExtraSlow]

Family discount on ring bleaching.

[ThePenIsMightier]

I gotta save to supplement my kids full ride schollys at post-grad MIT.

[ctochico]

yup, same goes with rrsps, scam city. everything benefits the governemnt

[Xtrema]

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yup, same goes with rrsps, scam city. everything benefits the governemnt

Tell me more.