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Scorch and Surge: Ontario Faces Sweltering Heat and Successive Storm Threats

Ontario is bracing for a stretch of intense weather as Environment Canada issues heat warnings across multiple regions, paired with a forecast of multi-day storm risks. Temperatures are expected to soar past 30°C, with humidex values pushing conditions into the high 30s and low 40s. The sweltering heat poses increased risks to vulnerable populations, including seniors, young children, and those with pre-existing health conditions. Meteorologists warn that the heat won’t come alone. A line of unstable air sweeping across southern and central Ontario is expected to fuel daily thunderstorms through the weekend and into next week. These storms could bring heavy downpours, damaging winds, and isolated hail, further complicating the forecast. Officials are urging residents to take precautions: stay hydrated, limit outdoor activity during peak hours, and check in on neighbours who may be at risk. Pet owners are also reminded to avoid walking animals during the hottest parts of the day. The co...
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RESP: A Smart Way to Save for Schooling.


RESP is a great way to save for schooling. RESP stands for Registered Education Savings Plan. It is a government-sponsored investment account that helps parents save for their child’s post-secondary education. One of the key benefits of RESP is that it allows your savings to grow tax-free until the funds are withdrawn. This means that any investment income earned within the RESP is not subject to tax as long as it remains in the plan. Additionally, the government provides grants and incentives to encourage parents to save for their child’s education. For example, the Canada Education Savings Grant (CESG) matches 20% of the contributions made to an RESP, up to a maximum of $500 per year. This can significantly boost your savings over time.


RESPs offer flexibility in terms of investment options. You can choose from a wide range of investment products such as mutual funds, stocks, bonds, and guaranteed investment certificates (GICs). This allows you to tailor your investment strategy based on your risk tolerance and financial goals. Moreover, when it comes time to withdraw funds from the RESP, the earnings are taxed in the hands of the student, who typically has little or no income. Since students usually have a lower tax rate than their parents, this can result in significant tax savings.


In summary, RESP is an excellent way to save for schooling as it offers tax advantages, government grants, and investment flexibility. It provides parents with a structured and efficient means of saving for their child’s post-secondary education while maximizing their savings potential.

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