One of the biggest limitations of the traditional RESP is the restriction on accessing the money for anything else than education.

Kids’ Education

Better than RESP

The Infinite Banking Concept offers a very interesting opportunity to add or replace the traditional RESP.

The only reason that I’m suggesting adding it to the RESP, instead of not simply replacing, is because of the matching grant that the government offers in their RESP program. If you budget is limited though, I recommend opening whole life insurance policies on your kid(s), as this strategy offers a lot more flexibility, and covers more than the only education funding scope.