RESP Alternatives

While RESP is often seen as the “default” option, it has serious limitations. RESP contributions are capped at $50,000, withdrawals are taxable in your child’s hands, and the funds can only be used for tuition and eligible educational expenses. If your child chooses not to pursue post-secondary education, or if they study outside Canada, RESP loses most of its value.

That’s where RESP alternatives come in. At Legacy Wealth & Business Solutions, we help parents across Ontario explore better options to save for their children’s future. Instead of locking money into a rigid account, we design flexible savings strategies that provide tax-free growth, freedom of use, and even permanent protection.

RESP alternatives are structured to give parents complete control. The savings can be used for education, yes, but also for buying a home, funding a wedding, or starting a business. By choosing these strategies, you are not just funding education — you are building long-term wealth.

Why Parents Choose RESP Alternatives:
• Freedom to contribute more than RESP limits.
• Withdrawals are tax-free, without restrictions.
• Suitable whether your child studies in Canada or abroad.
• Adds life insurance coverage, ensuring protection.

Parents want to know their money will always benefit their children — no matter the path they choose. With RESP alternatives, you can finally have peace of mind knowing your hard-earned savings will never go to waste.

Don’t let RESP limitations hold your child back. Book a call today to explore RESP alternatives designed for real-life needs.