We had someone visit our home to explain RESPs to us after our first kid was born like 8 years ago. They explained how there was a list of eligible institutions that didn't include any colleges or trades and that if we didn't use the money for the first kid, all the extra grants and interest were forfeited and couldn't be rolled over for other kids.
Coming from a family where most went into trades or maybe didn't go to school, this sounded like a terrible plan. I've since been told that the RESP person was peddling a terrible product and there are much more flexible plans out there.
With that bad taste still lingering in our mouths some 8 years later, how can I convince my wife to give these things another chance?
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