Investing without money? In some cases, it is possible
In the Special Needs community, it is all too common to see a single mother caring for her child. These single parents understand "busy" better than most people. Busy trying to balance the demands of a job plus all the extra care and attention their child needs.
In some cases, the amount of time spent caring for their child is so great that there is little time, if any, to work a steady job. So money is tight. Very tight. With little or no extra money they still wish there was a way they could save for their child's benefit.
I met with someone not long ago who is in this type of situation. They were surprised to find out that they didn't need any money to invest for their child. After getting to know their situation, we were able to open a Registered Disability Savings Plan (RDSP) for their child's benefit. Each year the government will add $1,000 to the plan, and there is no obligation to invest in the plan themselves. However, if they (or anyone else) wanted to contribute to the plan, the government would double or triple the investment (within limits).
When money is tight, and we wish there was a way to do more for our child, it is such an amazing surprise to find out we can get money for free. This particular person now has a savings vehicle for their child that cost absolutely nothing. Free Money. Yes!