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Old 03-29-2021, 11:04 AM   #21
V
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Yeah, it’s been every month auto payment. My daughter turns 17 this summer and I think that’s when the payments stop.

I smartened up with my other kids and opened up self directed plans with Qtrade. Hopefully everything works out okay with this one. I’m also reading it’s pretty tough to get money out of CST when it’s time to collect, so I guess I have that fight to look forward to.

Last edited by V; 03-29-2021 at 11:07 AM.
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Old 03-29-2021, 11:55 AM   #22
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Yeah, itís been every month auto payment. My daughter turns 17 this summer and I think thatís when the payments stop.

I smartened up with my other kids and opened up self directed plans with Qtrade. Hopefully everything works out okay with this one. Iím also reading itís pretty tough to get money out of CST when itís time to collect, so I guess I have that fight to look forward to.
Well that part I have no experience with, just the issues in between.
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Old 03-29-2021, 09:10 PM   #23
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Yeah, itís been every month auto payment. My daughter turns 17 this summer and I think thatís when the payments stop.

I smartened up with my other kids and opened up self directed plans with Qtrade. Hopefully everything works out okay with this one. Iím also reading itís pretty tough to get money out of CST when itís time to collect, so I guess I have that fight to look forward to.
My parents did the similar CST plan for me as a kid, then added a self-directed RESP with their bank later. The CST one was a bit more work to get the money out, but not dramatically so. They paid up without arguing. It was a pretty poor return over all, but that was the deal.

Granted that was >15 years ago...
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Old 04-13-2021, 09:00 AM   #24
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My parents did the similar CST plan for me as a kid, then added a self-directed RESP with their bank later. The CST one was a bit more work to get the money out, but not dramatically so. They paid up without arguing. It was a pretty poor return over all, but that was the deal.

Granted that was >15 years ago...
We had a more recent experience, but was very similar. The problem with the CST types is that there is no transparency and it was harder to get the money out. The timing sucked and it somehow took them 2+ months to process.

I would not recommend those to anyone. Use another, more standard financial institution, put money into a fund each month and you will be far happier.
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Old 04-14-2021, 12:00 PM   #25
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We had a more recent experience, but was very similar. The problem with the CST types is that there is no transparency and it was harder to get the money out. The timing sucked and it somehow took them 2+ months to process.

I would not recommend those to anyone. Use another, more standard financial institution, put money into a fund each month and you will be far happier.
Absolutely. I have a self directed RESP for my kids at a discount brokerage. The difference is huge.
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