Finance

Reasons as to Why You Should Sign Up For an Education Saving Plan

Reasons as to Why You Should Sign Up For an Education Saving Plan

While a lot of you might know what RESP is, but there is still a huge chunk of population that has no clue as to what RESP means. So if you are someone who falls in the latter category of people then you should know that it is an acronym for Registered Education Saving Plan, it is essentially there for people to sign up if they want to save up and form a trust fund of sorts in which they can keep on depositing money until their child reaches the age of going to college, they can tap into the funds and pay for their child with that money so that he or she does not have much problem in getting the education they always wanted. With these kind of plans also come the skeptical eye of people who are wary of these things and want to keep away from these things. With all the scam cases that are springing up these days, their fear is genuine as well. However, following are some of the legitimate reasons as to why you should sign up for RESP, check them out below.

For a Secure Future

While you are out there working day and night, most of the struggles that parents tend to have is because they want to give their children everything that they want in life including a good quality professional education so if you want to do for them as well then you should consider signing up for Knowledge First Financial RESP as well.

Plan Ahead of Time

A lot of parent tend to sign up for this way before their child is even born so that they are able to save enough for them that they can kick start their college education without struggle a lot in that regard.

What Are Penny Stocks? An Explanation

What Are Penny Stocks? An Explanation

Trading and investment has changed a lot overtime, and we are currently experiencing the rise of online currency, also known as cryptocurrency, which involves transactions and trade done through online currency known as bitcoins, and bitcoins have become very common. A lot of people have even managed to become millionaires through online trading and investing. Now, another form of investment that has been on the rise are penny stocks. Now, if you are still skeptical, you can check out Forbes.com for their articles on millionaires that have achieved their millionaire status by exchanging penny stocks.

Now, if you are unfamiliar with the term penny stocks, then simply put, penny stocks basically involves any trade and investment done under $5, or in pennies. So, it is a ridiculously small amount of money that you put in and invest in businesses. Of course not all businesses allow penny stocks to be their medium of trade, rather penny stocks are usually restricted to new, smaller companies that have not yet set a track record as a known or reputable business yet, and these businesses and companies also happen to have a small market capitalization at the time.

It is because penny stocks are cheap that people are attracted to them since they are not putting in a lot of money when they are investing in the company, and with relatively new companies, you can see a up to a 100% run or increase in the span of a single day. So, you can end up getting really large returns in a very short amount of time, so you can rake in a lot of money with multiple penny stocks. However, there are also risks since this market happens to be really volatile, so you can end up losing all of your invested money.