RDSP: The Other Government Registered Savings Plan.
The RDSP is the other registered savings plan from the government of Canada. It is not well understood or well supported by the banks either.
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Registered Disability Savings Plan
The RDSP is the Registered Disability Savings Plan, a Canadian Government program to help disabled individuals save for their future. Depending on the disability and income level of the disabled person (or their guardians/parents) the Government will also add allowances and bursaries to the account yearly, up to a lifetime maximum.
The RDSP is a key tool for parents of children with disabilities save for their loved one’s future. Once the child’s disability has been recognized by the CRA, an RDSP can be set up to start saving for the child’s future. The government’s additions will depend on the income level of the parents, the lower the income the more allowances and bursaries are added to the savings account.
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Random Thoughts: RDSP Week
Real world experience with RDSP week – making sure your disabled loved one is financially secure. Find out how I went through the process to ensure my son’s security. Get your RDSP in order this week!
RDSP the Money Flows (in)
RDSP Update! Whoopin’ it up! The money has appeared in my son’s RDSP account, after it’s overland route across two accounts, but unfortunately, as I suspected, I can only look at the balance and see… Read More »RDSP the Money Flows (in)
Registered Disability Savings Plan the Journey Continued
Overland Money Routes Yesterday I wrote about the interesting twists and turns I have had to go through to set up a legal Registered Disability Savings Plan for my son, but today I will give… Read More »Registered Disability Savings Plan the Journey Continued
