RESP tracking - couch potato investing - Page 2
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Thread: RESP tracking - couch potato investing

  1. #11
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    OP
    What brokerage do you use?


    I just opened 2 RESP with TD MF e-series (not TDW as that requires $25K balance to waive the $50 yearly fee for RESP)
    will simply do CCP with TDB900/902/911 and maybe bonds (TDB909)
    have some catching up in contribution to do

    http://canadiancouchpotato.com/2015/...lios-for-2015/


  2. #12
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    Quote Originally Posted by jerryhung View Post
    OP
    What brokerage do you use?


    I just opened 2 RESP with TD MF e-series (not TDW as that requires $25K balance to waive the $50 yearly fee for RESP)
    will simply do CCP with TDB900/902/911 and maybe bonds (TDB909)
    have some catching up in contribution to do

    http://canadiancouchpotato.com/2015/...lios-for-2015/
    I'm using Questrade - the commission-free ETFs make the Canadian Couch Potato model very affordable.
    Couch potato journey-Hidden Content .
    Child's RESP-Hidden Content .

  3. #13
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    Quote Originally Posted by fraser View Post
    Some Provinces have added incentives.
    Started one for our new born grandson last year. Just applied for the Alberta one time grant of $500. which is available IF you start the RESP at age two years of less.
    This grant was apparently going to be eliminated by the budget that the Conservatives proposed prior to their defeat in the recent provincial election.
    Free money is always nice, but the Alberta grant of $500 (and $100 again at various ages) comes with strings. Namely it has to be kept in a bond fund. At least this is what TD told us.

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  5. #14
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    Happy to take the money.....and place it into a bond fund. I have it with other investments managed by PHN. more than happy to have those monies in one of their bond funds.
    Last edited by fraser; 2015-06-02 at 07:11 PM.

  6. #15
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    Quote Originally Posted by nobleea View Post
    Free money is always nice, but the Alberta grant of $500 (and $100 again at various ages) comes with strings. Namely it has to be kept in a bond fund. At least this is what TD told us.
    Totally not true. We are in other funds and manage it however we please, you still get the ab grant.
    On a 'smart' device, please excuse autocorrect/when letters are missing.

  7. #16
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    Just looked at my PHN account. The RESP is invested in equity funds. But, I have just applied for the Alberta grant through them.

    Was not aware that there were other monies available after the first $500. We only just found out about the $500. because of a critique on the recently proposed Alberta budget....they were cutting this but gave some time to apply if the child was still under 2 years of age.

    Do you know if we have to apply for them as the time comes or are they automatically deposited in the RESP?

  8. #17
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    Quote Originally Posted by fraser View Post
    Just looked at my PHN account. The RESP is invested in equity funds. But, I have just applied for the Alberta grant through them.

    Was not aware that there were other monies available after the first $500. We only just found out about the $500. because of a critique on the recently proposed Alberta budget....they were cutting this but gave some time to apply if the child was still under 2 years of age.

    Do you know if we have to apply for them as the time comes or are they automatically deposited in the RESP?
    If you're talking about the Canada Education Savings Grant [CESG], the Canada Learning Bond [CLB], or the Additional Canada Education Savings Grant [Additional CESG], you'll need to apply through your RESP provider.
    The CESG is available to everyone, the CLB and Additional CESG are available for lower-to-middle income families.
    http://www.canlearn.ca/eng/savings/resp.shtml
    Couch potato journey-Hidden Content .
    Child's RESP-Hidden Content .

  9. #18
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    Quote Originally Posted by fraser View Post
    Was not aware that there were other monies available after the first $500. We only just found out about the $500. because of a critique on the recently proposed Alberta budget....they were cutting this but gave some time to apply if the child was still under 2 years of age.

    Do you know if we have to apply for them as the time comes or are they automatically deposited in the RESP?
    Yes, the AB centennial grant comes with 500 to start, then 100 at 8, 11, and 14yrs. Seems like you have to apply for each one individually.
    http://eae.alberta.ca/funding/aces.aspx
    Some uncertainty as to whether this is continuing since the PC's intended to phase it out, but they themselves have been phased out.

  10. #19
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    Quote Originally Posted by Plugging Along View Post
    Totally not true. We are in other funds and manage it however we please, you still get the ab grant.
    Good to know. I'll look at switching that out to a cheaper fund as they put it in to a high MER bond fund.

  11. #20
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    Quote Originally Posted by nobleea View Post
    Free money is always nice, but the Alberta grant of $500 (and $100 again at various ages) comes with strings. Namely it has to be kept in a bond fund. At least this is what TD told us.
    Nobleaa we just opened one for our daughter with TD and grabbed this one time bonus as well and you're correct it's just money and not surprisingly we were told we couldn't add it to the TDW account our RESP is set up in and that it had to be in a simple account. We didn't hear anything about bond only but it seems our options were cash, or GIC's. A little sad but hey, free money is free money, even if it'll only buy her a hamburger 20 years from now.


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