RESP basics for parents

Answer

Here is the plain English answer.

Why this matters

Most people get stuck because they are missing one detail, usually timeline, contribution room, or the rules around withdrawals.

A simple way to decide

1. Clarify your goal and timeline
2. Confirm the rule that applies to your situation
3. Choose the simplest action you can repeat for 3 months

What to check before you act

1. Your account type and contribution room
2. Any deadlines that apply this year
3. Whether your plan still makes sense if markets drop

Quick FAQ

What is the one mistake to avoid

Making a move without tracking room or writing down the plan

What is a safe next step

Get clarity on the rule, then start with a small consistent action