Group RESP are a rip-off and should not even be considered. So options are:
- self directed RESP (stocks, index funds, bonds)
- RESP Mutual funds (like td mutual funds)
I am leaning to self directed RESP, so far the best price option is QuestTrade. I have other money with TD Waterhouse, so that one is under consideration.
- QuestTrade:
Trading Cost: $4.95
RESP Annual Fee: None
Transfer Out Fee: $125
TD Waterhouse:
Trading Cost: $9,99
RESP Annual Fee: $50 plus tax if <$25000
Transfer Out Fee: $135
Next step is finding out how much trouble it is to set up a QuestTrade account and actually find investments for the RESP.
The comments here have some good investment suggestions:
