RDSPs by Craven Financial Planning
Discover how a Registered Disability Savings Plan (RDSP) in Canada helps individuals with disabilities and their families save for the future.
Grow Your Savings with an RDSP
With tax-deferred growth, a Registered Disability Savings Plan (RDSP) is a valuable tool for building long-term financial security for individuals with disabilities.
Contributions to an RDSP, along with government grants and bonds, grow tax-deferred until withdrawal, providing substantial support for future needs.
You can invest RDSP contributions in mutual funds, GICs, and other options to grow your savings. The RDSP offers flexibility and growth potential while ensuring essential financial resources are available for those with disabilities.
Common Questions and Answers:
- What investments can I hold in an RDSP?
Mutual funds, GICs, stocks, and bonds. - How does an RDSP help grow savings?
With tax-deferred growth and government contributions, your investments accumulate without being taxed until withdrawn. - What strategies maximize RDSP growth?
Taking full advantage of government grants and diversifying investments can maximize RDSP growth over time.
Ready to secure your future with an RDSP? Contact Financial Planner William (Bill) Craven today for personalized strategies.
Ready to take advantage of a Registered Disability Savings Plan (RDSP) and secure long-term financial support with government grants and tax-deferred growth?
Whether you’re just getting started or looking to enhance your current investments, Financial Planner William (Bill) Craven will guide you in making smart decisions that align with your financial goals.
Get started today
A Registered Disability Savings Plan (RDSP) is a powerful tool that allows individuals with disabilities and their families to save for the future by contributing to a tax-deferred account.
Frequently Asked Questions about RDSP
An RDSP is a government-registered savings plan that helps individuals with disabilities save for long-term financial security, offering tax-deferred growth and government grants.
Canadian residents under the age of 60, who qualify for the Disability Tax Credit (DTC), are eligible for an RDSP.
There is no annual contribution limit, but the lifetime contribution limit is $200,000.
The government provides the Canada Disability Savings Grant (CDSG) and the Canada Disability Savings Bond (CDSB) to match contributions and boost savings.
Only the government contributions and investment growth are taxed upon withdrawal, not the original contributions.
The RDSP must be closed, and any remaining grants and bonds must be repaid to the government.
Yes, an RDSP can be transferred to another eligible financial institution or rolled over to a sibling's RDSP if they are also eligible.
