Spoiling grandchildren the right way

By Debra Chan

(NC)—Grandparents are best known for spoiling their grandchildren. Why not give them more than just toys and candy?

“Many grandparents today are building a financial future for the second generation,” said Don Reed,  grandfather of four and president and CEO of Franklin Templeton Investments Corp.

Here are three simple tips on how to spoil grandchildren the right way:1. RESPect: Help them achieve their dreams by contributing to a Registered Education Savings Plan (RESP).

2. Make every birthday count: Instead of giving them a toy they don't need, spoil them with a cash gift for their savings account.

3. Teach the value of good advice: When your grandchildren are ready to get serious about investing, consider introducing them to a financial advisor who can help them achieve their financial goals.

More information about RESPs is available at www.franklintempleton.ca.

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