ABCs to PhDs – Consider an RESP!
by Shelly Appleton-Benko | September 8, 2021
September signals back to school, and whether that’s for preschool, high school or completing a post-secondary education, we are reminded of Benjamin Franklins’ quote: “An investment in knowledge pays the best interest.”
As true as that is, post-secondary education is expensive, and costs continue to rise. Early planning can help reduce the stress of managing these costs. One great way to invest for a child’s post-secondary education is through a Registered Education Savings Plan (RESP), coupled with the Canada Education Savings Grant (CESG).
Income and growth within an RESP remain tax-sheltered until withdrawn. In addition, when you start early, the RESP will benefit from a longer time horizon, the power of compound interest and the CESG – up to a lifetime maximum of $7,200!*
Do you think an RESP may be beneficial to your child or grandchild? Is it time for you to learn more? Please feel free to contact us, and we can go through the details together.
P.S. In gratitude of our clients during this back-to-school season, I have made a donation to the Surrey Schools Lunch Program. My hope is that this program will have a positive impact on our community, helping children access better nutrition in support of better educational outcomes.
*CESG amounts depend on the amounts contributed to the RESP.
Blue Moon | October 30, 2020
Fitting for a unique year like 2020, our Halloween this Saturday will be extra “spooky” as the sky will be lit by a “blue moon.” A blue moon is when there is a second full moon in the same calendar month. Blue moons are rare, hence the phrase “once in a blue moon.” + More
Wisdom of a Parent’s Advice | October 20, 2020
As a parent, there is no doubt we want the best for our kids – no matter how old they are (infant, teen or adult), they will always be our children and as parents, we offer our advice in the hopes of guiding them on their life’s path. Recently, I heard a radio commercial “mocking” the fact that a family member was still using their parents’ financial or investment advisor. Needless to say, we disagree! + More
Hire the Gardener | November 6, 2019
As the seasons change, many of us will spend time raking the leaves and pruning back the shrubs in order to keep our landscaping orderly and healthy. So too, as Investment Advisors and Portfolio Managers, we now revisit portfolios through the lens of preparing for year end and future conditions. In particular, we focus on the capital gains and losses for non-registered accounts. + More
Cinderella was Right! | June 26, 2019
Dreams do come true, but only if you don’t give up! After defeating the Golden State Warriors on June 14, 2019, the Toronto Raptors became the first Canadian team to win an NBA Championship. The following Monday, 34% of Greater Toronto Area residents went to the victory parade downtown and celebrated in true “We the North” style! + More
BA, FCSI, CIWM, CFDS
Vice President, Director,
Phone: (604) 844-5327
Toll Free: (888) 886-3586
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Shelly Appleton-Benko is a Vice President, Director and Portfolio Manager at Odlum Brown, with expertise in strategic wealth management. She has over 25 years of investment experience, helping affluent clients build, preserve and transition wealth. Shelly’s investment philosophy focuses on high-quality companies with strong management teams and growth potential. She places a priority on owning mid to large-cap companies with dividend payment streams. You won’t find any penny stocks here! Portfolios are created with a custom blend of individually traded securities in diverse sectors listed on major indices such as the Dow Jones Industrial Average, S&P 500 Index and S&P/TSX Composite Index. Where required, Shelly maintains a fixed income portion of the portfolio by tailoring a blend of corporate bonds, preferred shares, GICs or short-term money market products. Overall, Shelly ensures you always know what you own and why. + Learn More
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