The Financial and Spiritual Principle of Compound Interest

Aileen and I recently opened an RESP for our grandson and made an initial little deposit. An RESP (Registered Education Savings Plan) is a kind of savings account that allows money to accumulate without taxes, provided it is someday used for education. Finn isn’t yet even a year old, so this may seem a little premature, yet there is actually no better time than now because of the principle of compound interest. In this way, a dollar set aside when he is an infant will have a much greater effect