The world is changing, is an RESP still the best investment in my children’s future?

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Whether you’re saving for your kids’ education or not, it’s clear that the job market they’ll enter in the future will be very different from today, so getting a leg up will be crucial

When I graduated from high school 21 years ago, university was the undisputed path to higher earnings and professional success. Alternatives such as a gap year, college, trade school, or going straight into the workforce weren’t actively encouraged by my parents or pursued by my peers. for each of them, assuming they would get a university education like I did.

There will also be shifting needs in the labour market, thanks to demographic trends and changes in technology. Ontario is trying to address a projected gap in skilled trades professionals, with educators fighting to dispel old stigmas and offering incentives My husband and I scrambled to raise roughly $100,000 in funds from friends and family to launch our business. If our parents had given us a cheque for that amount, it would have kept us from relying on our personal credit cards to run our business, from diluting our ownership, and saved us time pitching investors.

 

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