Laurentian Bank | 5 reasons to invest responsibly in the future of the child

Behind the columns of figures are primarily people and stories, and this was captured by Laurentian Bank. By supporting a humane approach at all stages, the banking institution helps its customers to improve their financial situation and gives them a chance to prosper. It is in this spirit that the bank has recently expanded its range of investment products by launching a Registered Education Savings Plan (RESP), which responds to parents’ desire to give their child a better future.

Updated June 23

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1
To give him a priceless gift


All parents want their child to be able to reach their full potential and achieve their ambitions, whatever they may be. RESP is an ideal tool for funding a child’s post-secondary education and providing it with the means to reach its full potential and pursue the profession of its choice when it grows up.

2
Because RESP pays off!


Whenever parents (or grandparents, uncles, aunts, or family friends) contribute to a child’s RESP, provincial and federal governments support the investment through grants that are included in the plan.1. Even teenagers with student work can contribute to their own RESP!

In addition to savings of up to $ 50,000 per child (grants and income), RESP is the only registered plan that provides access to government grants of at least 30% of the subscriber’s annual contributions. For lower-income families, these grants can even be replenished by governments, making RESP a savings tool available to all wallets.

3
To take full advantage of the time factor


If you invest at an early stage, the magic of compound interest will work, and when the time comes for post-secondary education, the RESP beneficiary will receive a good incentive to fund it, in part or in full. If, however, RESP was not one of your financial priorities when your baby was in diapers, don’t despair: catch-up strategies can allow you to repay unused government grants if you start work by the 15th.e your child’s birthday.

4
To create a better world


By opening a RESP in Laurentian Bank, you can invest the amounts invested to obtain post-secondary education in one of the three new ESG model portfolios2 banking institution. These ESG portfolios, which consist of socially responsible funds – which therefore combine environmental, social and corporate criteria for selection and investment management – help build a better world for future generations. Therefore, parents who postpone their child’s future have the opportunity to invest in funds that are both profitable and reflect their values.


5
To ease the financial burden


By preparing for your child’s financial future, you ensure that the cost of tuition and student debts do not stand in the way of their ambitions. It does not matter his dreams and the speed with which they develop – because one thing is for sure, they will develop! – The money that grows in RESP will help your child start adult life without financial stress. This is also a bit so, we are building a bright future for future generations!

1 Canadian Education Savings Grant (CESG), corresponding to 20% of annual contributions, up to a maximum of $ 7,200 in lifetime grants for each beneficiary + an additional contribution of 10% depending on family income. Canada Learning Bond (CLB), which corresponds to the amount of $ 500 in the first year and $ 100 in subsequent years for a beneficiary (born in 2004 or later) who qualifies. Quebec Savings Incentive (QESI), equivalent to 10% of net annual contributions to the plan, up to $ 250 per year and per child + an additional subsidy of up to $ 50 per year for low-income family incomes, up to a maximum of $ 3,600 in lifetime grants for each beneficiary.

2 Mutual funds are distributed by LBCSF, a subsidiary of Laurentian Bank of Canada (“Laurentian Bank”). The facts of the fund contain important information. Please read these documents carefully before investing. For more information on the funds you trade, you can read the simplified fund prospectus. You can obtain simplified prospectus (s) and / or facts about the fund by contacting the LBCSF representative at the Laurentian Bank branch. An investment in a mutual fund (fund) can result in sales fees and a trailer, management fees and other expenses. Funds offered by LBCSF are not covered by the Canadian Deposit Insurance Corporation, any Canadian securities regulator, or any other government deposit insurer. In addition, funds are not guaranteed, in whole or in part, by Laurentian Bank or any stock company. There is no guarantee that the fund will be able to maintain a fixed value of net assets per unit or that the full amount of your investment in the fund will be returned to you. The value of the fund often fluctuates, and past performance is not an indicator of future performance.