You probably saved nothing for the first two years of your contributions. This is why some of you are seeing a lower current balance than you have contributed. Yes, membership fees are refunded in nominal, not real terms, but only if the child enrolls in a 4 year program.
Too late to change things now as my oldest is already 11, just not sure if I should change our investment strategies for the younger two….
I can also tailor the risk based on the age of the child. All this talk about fees, returns, etc. So, it is reasonable to assume that bonds will have total future returns in the 4.
Now if the members are not able to keep their commitment of what they started out with then the plan could be suspended for 3yrs and then has to be restarted, however if the client wants to cancel altogether and take out their money they will lose the membership fees as with the back end fees of the mutual fund for the first 6 yrs.
I have also had my license sponsered by pooled RESP dealers. At the end of the day we have to do what may be best for the client based on their risk tolerance and financial circumstances KYC. I would say that is nominal compared to a good performing fund.
I would have to explain this in detail on paper but the math has been done.
If future bond yields are higher it is bad news for someone investing in bonds today. Being a financial advisor with CIBCinvestors group and few other dealears. As far the people who are seeing less than their principal amount in their group RESP statements, thats because the membership fees have been deducted up front as it would be in a front end mutual fund.
We are now in the process of trying to make a withdrawal, as the oldest is planning on college this year. There are much better programs out there. Traciatim March 28, at 4:路 Chou () discusses a very common situation in business, communications between branch offices, and the home office data center.
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