The Scotiabank^® RESP Reality Check Reset Calculator

1 Let's Get Started The personal information you provide will help us make the right recommendations. Child's Province
of Residence:

Investment Profile: $\bPreservation of Capital\-b - Primary objective is to provide income and liquidity, while maintaining a high level of safety. \n\n \bIncome - Primary objective\-b is to achieve a balance of current income and long term capital appreciation, with a bias towards income. \n\n \bIncome and Growth\-b - Primary objective is to achieve a balance of current income and long term capital appreciation. \n\n \bGrowth - Primary objective\-b is to achieve a balance of current income and long term capital appreciation, with a bias towards capital appreciation. \n\n \bSpecialty Growth\-b - Primary objective is long term capital appreciation. \n\n \bCustom\-b - Select this choice to input a specific rate of return within the range from 1.0% to a maximum of 10.0%.$

Annual rate of return assumption: 5%. To change, please select a different Investor Profile

Set Annual Rate of Return:

Net Family Income: $Net Family Income is used by the Government of Canada to determine your eligibility for additional Canada Education Savings Grant (CESG). \n\n It is calculated as per your Family Gross Income less all deductions i.e. total revenue minus deductions, before taxes. Deductions include such items as; child care expenses, pension contributions, RSP contributions, moving expenses etc. This is generally income reported on line 236 of you and your spouse’s previous year’s income tax return.$

$0$100,000+

Marginal tax rate assumption: 35%

Adjust rate

Set Marginal Tax Rate:

2Your Children's Information

3Your Family Plan Summary

Ideal Savings: (Optimal Monthly PAC Account) $\bLeft Bar\-b - represents the amount of recommended monthly contributions needed in order to potentially attract the maximum government grants. \n\n \bRight Bar\-b - represents the amount of recommended monthly contributions needed in order to achieve your projected educational savings goal. \n\n There will be cases when the two recommended contribution amounts are equal – this generally occurs when the “ideal savings amount” is appropriate for your needs, but would not attract the maximum amount of grant.$

$0$0

To optimize grantsTo achieve target

An ideal plan is flexible and geared to help you reach your goals. Taking full advantage of all available government incentives is a key strategy that we can help you with. We will show you how to reach your goals by doing what works for you and your family.

Monthly Contribution:
Initial Lump Sum Contribution:
The Money Finder Calculator helps you explore your current spending habits so that you can look at areas where spending can be altered and ultimately save more.

Summary:

Projected Required Savings

Projected Savings

Total RESP Contributions and Earnings
Total Government Grants and Earnings
Total Shortfall/Surplus

Child's Name:

Child's Age:

Years at School:

Age Starting School:

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Determine Education Cost

Live at home
Use national average
Province of schooling:

Tuition:

Room & Board:

Total Past RESP Contributions:

Current Balance of RESP:

Other Savings for Education:

The Scotiabank® RESP Reality Check Reset Calculator

Determine Education Cost

The Scotiabank^® RESP Reality Check Reset Calculator