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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada

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Orginally posted by Pramod Chopra


Self-directed RESPs
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A self-directed RESP is like a self-directed RRSP in that you can choose the securities you want to hold. You can keep your holdings to one type of security (GICs, or mutual funds), or you can mix and match different types of securities like GICs, mutual funds, bonds and stocks.

However, it seems you have not read the article pasted thoroughly and are still willing to pay fees (units fee) while you can have flexible plans without having to pay any fee?

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PKS

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Orginally posted by pksatpathy

Quote:

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Orginally posted by Pramod Chopra


Self-directed RESPs
--------------------------

A self-directed RESP is like a self-directed RRSP in that you can choose the securities you want to hold. You can keep your holdings to one type of security (GICs, or mutual funds), or you can mix and match different types of securities like GICs, mutual funds, bonds and stocks.

However, it seems you have not read the article pasted thoroughly and are still willing to pay fees (units fee) while you can have flexible plans without having to pay any fee?

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Pramod,
I suppose one doesn't have to pay fees in this self directed RESP, which is a flexible plan.
Is this plan a option which can be done through any agent or can be opened by self ?I mean to say is there any need of the agent to open this account?
How one can open this account and through what process?

Pramod any updates for Global ban !!!

Thanks

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada

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Orginally posted by Sakt

Which companies are safe for RESP investment... recently read on the net that Global was banned from accepting further members because of its not- so - safe investment policies?

Secondly ...what if the child decides to study abroad? Can he use his RESP ?

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Global is still active.I hv recently done thro global.

By the way Sakt is still active or not ??

He had initiated the statement of banning Global and is banned himself for long.May be he is a competitor of Global.

Good luck.

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PKS

Hi

My free information website will help with information for RESP's - I arrived in Canada in 2003. This is my first post so I hope its ok to post web addresses - if not I'll apologise now!

http://www.onestopimmigration-canada.com/RESP.html

To hire a specific company I'd say ask around for friends/family to see if they are happy and check with the financial regulators - they should be registered. The returns are great with the 20% added by the govt. though fee's are always going to grab back a fair amount so make sure you understand the fee structure and any company worth dealing with will have a transparent fee structure.

They are invested in the stock exchanges normally so be prepared for them to fall in value at some point and have some degree of conservativity in the choices of investment area's. Don't forget, you only make or lose money on stocks when you sell them so don't panic during a drop in the market - historically, things will always pickup in the long run.

onestop