Adding An RESP Withdrawal Override

It’s possible to adjust the withdrawal timing and amount if you expect the withdrawals for each child to be different. The default assumption is that withdrawals start at age 18 and continue for 4-years but this can be overridden with specific values to reflect your family's situation.

For example, a larger withdrawal could be added for a child who requires a vehicle to get to and from school. This can be added by overriding the withdrawal amount in Today’s Dollars. In this case we’ll increase the initial withdrawal to $20,000.

Because more has been withdrawn in the first year this reduces the average withdrawal per year per child for the remaining years.