CESG – Add $20,064 to your RESP

The Canadian Education Savings Grant (CESG) can add significant growth to your RESP.

If you contribute $2,000 per year (beginning of period) to an RESP for 18 years or $36,000 in total, the RESP will grow to $100,318 at a 10% rate of return.

Based on the above RESP contribution, you would receive a total CESG grant of $7,200 ($400 per year over 18 years, beginning of period investment). With the grant, your RESP will grow to $120,382 after 18 years.

When should I start investing?