Investments for Post-Secondary Education
Investments for Post-Secondary Education
Post-secondary education is expensive, and it's expected to become even more so in the future. The sooner you start to save, the more you can do with the money you have. There are many different types of investments that can help you save for your or your child's, post-secondary education. Provincial Government Employees Credit Union can get you started.
RESPs
Registered Education Savings Plans are set up by the government to help people save for their children's educations. By putting money away each year, you can ensure that your child will have money available to attend post-secondary school.
Term Deposits
This type of investment guarantees you a set return on your money over a fixed period of time, which can be very beneficial when saving for a specific date in the future. There are short and long-term deposits. Short-term deposits usually require a higher investment than long-term deposits, and often have a slightly lower rate of return. Term deposits pay out interest yearly on any term longer than 90 days.
