# Heritage Educational Savings plan?



## Ciddian (Mar 15, 2006)

I have a rep coming by today but I don't know if its something that I should do. They've been bothering me for half a year to set up an apt. lol.

Do you guys have an educational savings fund? I personally can't see much wrong with it but its been a hard sell to my husband.. :/


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## Joeee (Apr 3, 2010)

Just tell him that you won't sleep with him until he goes along with it.


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## Ciddian (Mar 15, 2006)

LOL! Yea that could always work. We'll see what the guy says when he comes. Just weird having a rep come to the house in this day and age ya know? lol


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## arktixan (Mar 30, 2010)

My mom set one up for me when I was a kid... and we totally got shafted by them... I do not remember what happened, I could ask her... I personally vote no.

If you want an education saving plan... just setup your own Savings account.


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## Ciddian (Mar 15, 2006)

The guy totally pissed me off... Thanks for the experience. It was a huge red flag when the guy called to confirm our meeting and asked my husband how much he wanted to start with

Normally not a huge issue, but he's already spoken to me and I said we needed information before we would even think about doing it. Then the guy starts trying to work my husband? Hello?

I called him 5 mins before he was supposed to come and canceled. The guy was speechless. LOL He kept saying that he was just around the block and I just kept saying no thank you. Then he let out a big long huff and told me to have a nice day. 

Maybe he'll learn not to be so pushy.


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## TBemba (Jan 11, 2010)

I would just go to the bank and get a RESP

I got some for my son when he was born and he will be 14 this year and starting High school. It has grown pretty good. Only issue is if he doesn't go to post secondary school (you lose a big portion of the interest). But in todays world that is pretty well mandatory.


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## Chris S (Dec 19, 2007)

Good job Cid. I didn't see this thread earlier, but my two younger brothers both had HES plans - both ended in a waste of time and money. My parents mentioned that putting this money away into a savings account and making 1% interest would have netted more benefit. Heh.


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## Ciddian (Mar 15, 2006)

Oohhh good to know, thank you!


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## Riceburner (Mar 14, 2008)

I have RESPs thru the bank. That is by far the safest route.


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## Fish_Man (Apr 9, 2010)

I say never trust anybody with your money except your bank... if you HAD to put your money somewhere besides in a piggy bank


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## bae (May 11, 2007)

These hard-sell deals are often legal scams. They sound wonderful but there are so many hidden costs and fees and exceptions that you can really get pitiful returns on your money.

Banks are at least more reputable, but they are in business to make money for their shareholders just like any other corporation.

Personally, I've been banking with a credit union for the past few decades, and it's been really great. Since depositors and borrowers are the shareholders, you can trust what they tell you, and fees are far less than any bank or trust company. You get dividends not only on your deposits (as well as very good interest rates), but on your loans, which is very nice if you have a mortgage with them, at least at the credit union I bank with: http://duca.com You only have to live and/or work in the GTA to join. You can get mutual funds and insurance and other services through them too.


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## Tigercga (Mar 26, 2006)

I have a self admin RESP account for my kids. I invest in bank stocks, mutual funds, government bonds and a mixtre of other stock investments. You have to administer the investment portfolio yourself, and no one gives you any investment advice, you pay nothing to anyone.


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