A Registered Education Savings Plan (RESP) is one of the easiest and best ways to fund the future ambitions of your child. It is designed to help you save money for the post-secondary education of a child or other beneficiary. The money is invested in professionally-managed portfolios whose asset mix evolves to reflect your time horizon. RESP contributions are not tax-deductible but they do allow savings to compound and grow tax-free until the child is ready for full-time college, university, or another post-secondary educational institution.

A Tax-Free Savings Account (TFSA) is a flexible new method for saving money. Its main benefits are tax-free growth, tax-free withdrawals, the ability to put back any amounts you withdraw, and income splitting.

A Registered Retirement Savings Plan (RRSP) is a personal savings plan registered with the federal government allowing you to save for the future on a tax-sheltered basis. Your money is invested in a variety of investment products including RRSP savings deposits, T-bills, GIC's, mutual funds, bonds, and stocks. The contributions are tax-deductible.