Quoting speaktruth2powr:" This is through an RESP program, which can end up being a complete scam if your child doesn't go to post-secondary....you actually lose all of the money you put into it."
How would you know whether or not it's a scam? I called RBC about an RESP and they said if the child doesn't use it for education you can take the money out you will just lose the gvt. grants on it.
Idk about Gerber life plan, I heard thats a scam too. But then again I don't even have a good job right now because my parents never saved anything for me and I can't go to college or school without money and right now I'm afraid to do loans because I don't know anything about them.
And I have no car which on top of it makes everything ten times harder. I'm pretty broke actually.
My mat leave is 916 a month plus I will get baby bonus. if I don't start an RESP, I will start a separate savings acc with what I have to put at least $20 a month for her education. At the end of my mat leave I don't know what I'm going to do, may or may not go back to work or I might just go on welfare to stay and take care of her until I figure out what I'm going to do about my own education.