Post-secondary school can be rather costly — especially for those who decide to leave work to go back to school full-time.
Did you know you can use your Registered Retirement Savings Plan (RRSP) to help pay for this? You can! This can be done through the Lifelong Learning Plan (LLP), which allows you to withdraw amounts from your RRSP to finance full-time training or education. You can even use this to support your spouse or common-law partner if they decide to return to school. The only time you cannot use the LLP is when your or your spouse or common-law partner’s children are heading off to school; in this case, a Registered Education Savings Plan (RESP) would be something to look into.
No matter who is going to school, we can help you develop a personalized financial plan that supports your family’s education-based decisions. Book your free consultation today.
Mutual funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc. The particulars contained herein were obtained from sources which we believe reliable but are not guaranteed by us and may be incomplete. The opinions expressed have not been approved by and are not those of Investia Financial Services Inc. This website is not deemed to be used as a solicitation in a jurisdiction where this Investia representative is not registered.
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