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RDSP clarifications Registered disability savings Plan

RDSP, Easter, Thanks Rusty and #MoneyTalk

My wife found a great article about RDSPs, What happens to our sons and daughters with disabilities when we die from Planned Lifetime Advocacy Network. The title is quite literally what most parents of kids with disabilities wake up worrying about at 2 AM (or at least the ones I have spoken to). It points out that the RDSP program has only a 29% participation rate (for folks who have DTCs), which is depressing. What is the cause of this? Maybe it is hard to set up, or maybe folks aren’t aware of it? I asked my Member or Parliament that question, haven’t heard anything back.


Estimated reading time: 5 minutes


Easter is here, and for most of us it is a time of reflection and then a feast. If you are not so inclined remember it can be a time of reflection and starting new things like:

  • Seeing which credit cards you don’t use, and then cancelling them. I don’t want to hear from anyone about how this hurts your credit score, that is nonsense. If it does, you have 1 less way to get further in debt, so it is a fair swap.
  • Look at your health situation, and then plan an exercise or diet regimen (that you can live with for the rest of your life) and implement it. You can plan your retirement all you want, but if you are dead before it happens, you have wasted your time.
  • An easy one is look at all the worrying you did in the past little while, did it change anything, aside from ruining a good night sleep? Maybe it is time to find a way to stop that? Talk to a professional if you really have problems in this area (I speak from experience).
Rusty Staub
Farewell Rusty, hope you hit them all over the Right Field Scoreboard at Parc Jarry

Baseball begins again, on a sad note with the passing of my original baseball hero Rusty Staub. Mr. Staub was a class act, I met him once many years later in Pittsburgh, and he kindly listened to me blather about my childhood memories and thanked me for telling him. We shall miss Le Grand Orange.

In an odd financial twist, my first bank account was a Young Expos bank account, with the Bank of Montreal. Mr. Staub was the spokesperson for that account.

While my beloved Montreal Expos still are not on the field, I am starting to become a Blue Jays fan (don’t worry I will never be a Blue Team Hockey fan, my Montreal DNA will not allow it). Hope the games speed up a bit this year, I am tired of watching 4 hour games.

The repercussions of the Facebook data debacle continue on, but luckily their founder is showing a great deal of humbleness in Vanity Fair. He isn’t wrong, but does that mean he should crow about how stupid people are? Doesn’t mention how their Android app used the Operating System “flaws” to track calls and data transfers either, so maybe it isn’t completely your fault?

My Recent Writings

Didn’t write much this week. I have started a whole bunch of things, but nothing worth reading yet. I keep meaning to finish my writing, but life does get busy.

Micro Blogging on Finance

A heart wrenching story about what folks have to do day-to-day just to keep their kids safe.

Never got an answer from my MP from this tweet either.

Read More »RDSP, Easter, Thanks Rusty and #MoneyTalk
DST

Steady Interest Rates, Spring Forward and #MoneyTalk

Interest rates continue to stay at 1.25% for the overnight rate, (March 2018).I suspect that, given the economy’s current state, we won’t see another rate hike for a little while. Their statement seems to imply that they are unsure where things might be going in the next little while.

DST
Time to Spring Forward

Inflation is running close to the 2 per cent target and the Bank’s core measures of inflation have edged up, consistent with an economy operating near capacity. Wage growth has firmed, but remains lower than would be typical in an economy with no labour market slack. Inflation is fluctuating because of temporary factors related to gasoline, electricity, and minimum wages

Bank of Canada March 2018

This seems to point a wagging finger at Ontario’s minimum wage increase, but it asks why wages normally don’t go up given how few unemployed folks are out there. We seem to live in interesting economic times.

Belated Happy International Women’s Day! As the father of 3 wonderful women, and the proud son of a trailblazing woman (my mother had a Statistics Degree in 1951, which was a rarity), I stand in awe. Do we have wage parity? Nope. Do we have gender equality? Nope. I think we still have a lot of work to do.

It is not only Tax Season again; it is that weekend when the clocks go forward (in most places in Canada and the US). There is talk of sticking with Daylight Savings Time, we shall see where that might leads, but if you won’t put your clocks forward you will be late all day Sunday.

My Recent Writings

Luckily I got something interesting in the mail to write about this week, with RDSP Statement of Grant Entitlement . Once you have gotten through the DTC maze, set up an RDSP and started putting money in it for your loved one, this is the most important document you will receive every year (aside from any reassessment notices from the CRA of course).

Micro Blogging on Finance

If you somehow think that the Government is going to escape the Phoenix Pay system debacle unscathed, I don’t think the media in Ottawa is going to allow that to happen.

Read More »Steady Interest Rates, Spring Forward and #MoneyTalk
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