The challenge was to transform this negative message into a positive one:

Consider the disadvantages of failing to continue your regular contributions to your child’s Golden Financial RESP plan:

• You lose the advantage of tax sheltered interest an RESP savings plan provides. Interest earned outside an RESP is usually taxable income, which significantly reduces the amount available when your child approaches you for funds to pay for books, food, tuition, bus fare, fees, residence and so on.
• you will not earn the same high rate of return individually as when your funds are pooled in Golden Financial’s 1.6m portfolio
• you lose the $500 Canadian Education Savings Grant for this year.

Thanks to everyone who participated. It was tough to choose—here’s what our panel of judged decided:

First Prize goes to Jennifer Ross, Writer/Editor, Correspondence Unit, Ministry of Training, Colleges and Universities. Jennifer got 3rd prize in our September contest. She rewrites:

This is how you and your child will benefit from regular contributions to a Golden Financial RESP:

• tax sheltered interest—all of the interest you earn will be available for your child’s education
• a high rate of return on your investment—you’ll benefit from pooling your funds in Golden Financial’s $1.6 million portfolio
• the Canadian Education Savings Grant—$500 each year you contribute to the plan

(Okay, I changed the period after RESP to a colon)

Second Prize goes to Ruth Melady, Policy Specialist at the Ontario Government. Ruth received 2nd Prize in our September contest. Her revision:

Consider the advantages of continuing your regular contributions to your child’s Golden Financial RESP plan. You can:

• get the advantage of tax sheltered interest an RESP savings plan provides. This will increase the amount available to pay for books, food, tuition, bus fare, fees, residence and so on.
• earn a higher rate of return by pooling your funds in Golden Financial’s 1.6m portfolio than with individual funds.
• qualify for the $500 Canadian Education Savings Grant for this year.

Third Prize goes to Sonia Gluppe, from the Ministry of Health (notice a theme here?)

By continuing to contribute regularly to your child’s Golden Financial RESP plan:

• you benefit from the advantage of tax sheltered interest an RESP savings plan provides. This significantly increases the amount you will have available when your child approaches you for funds to pay for books, food, tuition, bus fare, fees, residence and so on.
• you will earn a higher rate of return than you could individually
• you will receive the $500  Canadian Education Savings Grant each year

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