More money creates more opportunities—including how you support your child’s education. With the right plan in place, you can help them pursue their goals while staying on track with your own.

At Wherry & Associates, we believe education planning should be precise, calculated, and deeply integrated into your broader wealth strategy. The right plan protects your wealth and gives your child the opportunities they deserve—without sacrificing the lifestyle you’ve built.

RESPs: Unlocking Growth Without Compromise

A Registered Education Savings Plan (RESP) is a flexible way to enjoy tax advantages and the growth potential you need to meet for future post-secondary institution costs. Parents, grandparents (and friends) can contribute money into an RESP account that will shelter the money on a tax-deferred basis until the child withdraws the money when attending a post-secondary education. The investment income and government grants will be taxed in their hands. As your child is unlikely to have significant taxable income, they may pay little or no tax on this money.

We can help you evaluate the different aspects of an RESP that includes:

  • A lifetime maximum contribution amount for each child of $50,000. (There is no minimum or maximum annual contribution to an RESP).
  • The ability to potentially transfer the money in an RESP to a plan for another child or to the contributor’s RRSP (under certain conditions). You can also transfer it to your family RESP, should the child pursue another career path
  • Access to the Canada Education Savings Grant (CESG) for parents contributing to an RESP. Over time, CESG can provide up to an additional $7200 in extra investment capital.
  • Basic CESG gives you a 20% grant of the first $2,500, contributed each year. That’s like $500 in “free” money each year. Unused Basic CESG room can accumulate and carry forward, so you can make up for missed opportunities by making contributions in later years. The maximum Basic CESG you can collect in a year is $1,000 (i.e. 20% of $5,000 of contributions).
  • Additional CESG offers an additional grant (above the Basic CESG) of up to 20% on the first $500 you contribute to an RESP based on your family income.
  • Depending on where in Canada the RESP beneficiary resides, the RESP may be eligible for additional provincial grants.

Education Planning That Preserves Your Wealth

RESPs are just one piece of the puzzle. Without proper planning, your education funding efforts could work against your greater financial strategy. We make sure that never happens.

Our approach aligns your education savings strategy with your tax plan, investment portfolio, and estate planning goals. No blind spots. No missed opportunities.

Education Costs: It’s Bigger Than Tuition

Tuition is only part of the bill.

  • Living Expenses

    Dorm fees. Off-campus rent. Meal plans. It’s easy to underestimate these costs, yet they often eclipse tuition itself. We build these costs directly into your plan.

  • Supplies & Materials

    Expensive equipment, textbooks, specialized tools—these costs can add thousands to an annual budget. We ensure those expenses never catch you off guard.

  • International Study & Travel

    Flights, accommodations, health insurance—it all adds up. We account for these variables in advance, ensuring your education plan can handle the unexpected.

Flexible Strategies That Evolve With You

Your child or grandchild is five years away from university—or maybe five months. Perhaps they’ve decided to extend their studies or take a year abroad. Life shifts. Priorities change. That’s why we continuously adapt your education strategy to meet the moment. Your plan evolves—so your savings stay strong and your wealth remains protected.

Your Wealth, Their Future—All Protected

Education planning isn’t about sacrificing wealth—it’s about preserving it. It’s about securing your child’s future without compromising your own. At Wherry & Associates, we deliver strategies that turn educational goals into actionable, achievable plans—while keeping your long-term financial security intact.

Ready to build an education plan that keeps your wealth working for you? Let’s get started.