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Just as a new employee needs training before they start their position, so too a child needs a parent's guidance to build a strong financial future.
Opening a trust account in your child's name allows you to make deposits at anytime with the assurance that they can not access the funds without your signature. Once you feel that the child is mature enough to understand the concept of money, you may wish to set up a personal account under the child's name, thus giving them the upperhand on money management.
With the cost and emphasis of post secondary education constantly on the rise, it is never too early to start saving. See how our Registered Education Savings Plan (RESP) can prepare you for these future costs.
Growing up also brings with it the necessity of a Social Insurance Number (SIN). Find out more information in regards to applying for a SIN by visiting the government of Canada website.
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