Registered Disability Savings Plan (RDSP)


Christopher, age 15, has a severe disability – so for his parents, Jennifer and Don, their biggest worry is what will happen to Christopher when they are no longer able to care for him. Jennifer and Don have a combined income of less than $87,000 for 2013. Unfortunately, saving on their own has been a real challenge, but that has not stopped them. 

When we sat down with them one of the first things we discussed was the benefits of RDSPs and how RDSPs will help Christopher in the future by enhancing his financial security with the help of our government. 

To begin, we opened up an RDSP for the very first time. RDSPs were first introduced back in 2008, so we were able to take advantage of grants from day 1. 

Jennifer and Don then contributed $3,750 of their own hard earned money, and in return the government contributed $10,500, the total maximum grant amount per year. Now that’s an amazing return on your money. Just imagine how much potential growth can occur over the next 35 years, which time Christopher can begin withdrawing for retirement. At 5% over 35 years, at which Christopher’s one time investment potentially may grow to $78,603.22, which will help provide future income. 

The best kept secret is the fact that payments from his RDSP do not impact other income tested federal government programs like GIS, CPP and social assistance benefits. 

For more detailed information on Retirement Planning for the Disabled, click here for a free report on RDSPs.

Securing your Family's Future

Following the advice of a trusted advisor is shown to be a significant factor in building wealth and achieving investment success. Our team can provide sound advice and a Personal Wealth Management Strategy™ to guide & assist you & your family at any stage of life.