LONG TERM RESP - where to put the money?

[CanadianCapitalist]

I personally have a TD e-Series Funds RESPs for my kids. It's cheap and simple and you don't pay fees or commissions.

To OP's question, I would ask if OP has any interest in learning how to invest on his own. Assuming he does, I would simply park contributions in cash until he can pick up some investing basics and deploy the cash as his knowledge grows.

[CanadianCapitalist]

Good point, HISA until there is at least a couple of grand to deploy while getting educated on possible strategies and product choices.

I disagree. This is a RESP account and options for parking cash will likely be limited to in-house money market funds.

The minimum per TD e-Series fund is only $100. It is not impossible to build a couch potato portfolio even for a $500 investment.

[gibor]

Guys who recommended XIU, VEA and other ETFs.... First of all I doubt OP has discount brokerage account and I wouldn't recommend to open it in discount brokarage, as for amount he has he will be paying administration fees, high commissions, and (from what I understand , for withdrawals from such RESP there will be another commissions involved).
Another point....there are 1 kinds of RESP (in bank, not discount brokarage): 1. Term RESP (allows only GIC) 2. MF RESP (only MF). If I were OP I would open both.

[Ihatetaxes]

Another point....there are 1 kinds of RESP (in bank, not discount brokarage): 1. Term RESP (allows only GIC) 2. MF RESP (only MF). If I were OP I would open both.

Huh??