Future-proof your child’s career path with an RESP
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As career opportunities grow and change it helps to define society and our economy in many ways. As parents it’s important to think about your child’s future and how best to plan and prepare for your child’s success in these new emerging fields. In this article, we’ll go into some of the careers of the future and how you can prepare your child to enter these careers if that’s the direction they want to choose.
Emerging Careers
- Genetic counselors: Genetic counselors are becoming more popular and in demand due to how advancements in genetics are impacting healthcare. These counselors work to analyze genetic information to help individuals to understand what their risks are for inheriting different diseases. This is a role that requires people to have a degree and foundation in biology, counseling and genetics.
- Sustainable city planners: With changes to climate and urbanization sustainable city planner jobs are becoming more and more in demand to create urban friendly spaces. They assess transportation, land use and overall management of resources to design communities which are sustainable. To become a sustainable city planner, you may need a degree in environmental science, urban planning and public policy.
- Autonomous system engineers: With the rise of AI and the demand for more autonomous systems engineers are expected to be more in demand in the future. These types of engineers develop, design and maintain systems which are meant to operate independently like robotics, drones and self-driving cars. This field requires degrees in computer science, engineering and system engineering.
- Cyber specialists: Due to the evolution of technology it’s becoming increasingly important to keep people safe online. This is why cybersecurity professionals are becoming more in demand in the future. These specialists work on protecting organizations from cyber threats ensuring the confidentiality and integrity of data. With the increase in cyberattacks there’s a need for cybersecurity professionals to navigate cyber laws, technologies and protocols.
The Role of RESPs in Funding Future Careers
RESPs or Registered Education Saving Plans are designed to help families save for post secondary education. If you start saving with an RESP when your child is young, they’ll have a substantial growth in funds to accommodate for these future careers and many more.
Some of these career opportunities, due to the nature of knowledge needed, can cost a lot of money in regards to degrees and courses. When an RESP is set up early, it allows for the funding of these careers easier without debt when the child turns 18.
Without any savings setup, a child undertaking a degree may come into issues with an ongoing college debt while studying and after their study is complete. They may also find they may not be able to afford different courses which are related to the degree they’re doing which can limit their knowledge and career advancements down the line. This is why setting up an RESP early is key to your child’s overall career success.
Endnote
When it comes to future careers, there’s many options to choose from, but by taking the time to understand and set up a savings plan now, you have the ability to help your child make it into a career field that can pay off in the long run.
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