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RESPs

New Year: A New Way to Invest in Your Child’s Future


January 15, 2020 By Lena Leave a Comment

Happy 2020, friends!

We’re just a few weeks into the new year and I’m already feeling amazing about my progress. This year, I decided to shun resolutions and instead set goals for improvement that I’m willing to continuously work on. My plan to better nutritional, physical and financial health in 2020 includes:

1) Make better food choices for my family. This includes adopting a more plant-based lifestyle, reducing the amount of processed foods in our diet and making healthier substitutions when possible. It’s definitely a work in progress for me, but this year I’ve communicated my plan to everyone in the family and, so far, have buy-in. Fingers crossed!

2) Get physical, together. Although our family is moderately active, I realized last year that we don’t actually spend time together enjoying physical activities. This year, we’ll be skiing, canoeing, bike riding and ice skating as a family. Our days are busy, so I’m hoping to make this one work!
3) Focus on building the boys’ RESPs. It feels like I blinked and suddenly, my sons will be 12 and 10 years old! Although I created an RESP for each of them many years ago, I’ll admit that I’ve majorly slacked when it comes to contributions. …

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Filed Under: Family Tagged With: bright plan, Canadian Scholarship Trust Foundation, cst spark, Registered Education Savings Plans, RESP, RESPs

Investing in Our Future: #LetsTalkRESPs

November 6, 2015 By Lena

Having two boys, my husband and I have tried to avoid the “H” word for some time now. So far, it’s working… but I’m not fooling myself. I know that one day, I’ll need to sit down with one son – or both – and explain exactly why this house is, and always will be, a hockey-free zone.

“We love hockey!” <- Yelled from our living room. Nowhere near an actual hockey rink.

Here’s the thing. I’m a realist; I know that I probably have a better chance at winning the lottery than having my child make it as a professional hockey player. In fact, of minor league hockey players in Ontario (where roughly 45% of Canada’s hockey players live) born in 1965, 1975 and 1985, only 1 in 1,000 played a single game in the NHL.

If you’re willing to chance those odds, I’m definitely not going to rain on your parade, but here’s the thing – hockey, and other extracurricular activities – are expensive. Like, hella expensive. (As a former dance mom, I am particularly qualified to make this claim.) True statement: 46% of Canadian parents are or know someone who is pulling kids out of extracurricular activities (such as hockey, swimming, music lessons, etc…) because of the cost.
hockey_twoyoungplayers_faceoff-612x300Now if you’ve got the cash to fund your child’s sporting activities AND have set aside (or are continually saving) money for their post-second education, congratulations! You are living the dream. And may the hockey gods be forever in your child’s favour!

However, the grim truth is that less than half (48%) of parents are saving money for their children in the form of a Registered Education Savings Plan, and almost half of Canadian parents (43%) are willing to go into debt or even defer their retirement to put a child in hockey and other activities.

The message is loud and clear: parents are still struggling to score the right balance this winter when it comes to hockey and education. …

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Filed Under: Family Tagged With: #BeyondtheBlueline, #LetsTalkRESPs, Canadian Scholarship Trust, RESPs

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Lena Almeida

Toronto Blogger, Social Media Strategist for Listen to Lena Inc. Television & Radio Personality, Columnist and Speaker. Family Travel Expert. Star Wars Fanatic. Perfecting the Art of Conversuasion. Read More…

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