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
RDSP Planning
Planning for long-term support with an RDSP
A Registered Disability Savings Plan, or RDSP, can be an important long-term savings account for eligible individuals with disabilities and their families.
Contributions, government grants, and government bonds may grow tax-deferred inside the plan until withdrawal. Because RDSP rules, eligibility, contribution decisions, withdrawals, and investment choices can all affect the broader planning picture, it is helpful to review the account in context rather than looking at it in isolation.
RDSP contributions may be invested in options such as mutual funds, GICs, stocks, and bonds, depending on the plan and the person’s needs. The right conversation is not only about the account itself. It is also about how the RDSP may fit with future support, family planning, government benefits, and long-term financial stability.
Common questions about RDSP planning
- What investments can I hold in an RDSP? Depending on the plan, RDSP contributions may be invested in options such as mutual funds, GICs, stocks, and bonds.
- How does an RDSP help with long-term savings? An RDSP may allow contributions, grants, and bonds to grow tax-deferred until withdrawal, which can support longer-term planning for future needs.
- What should be reviewed before making RDSP decisions? Eligibility, contribution timing, grants, bonds, withdrawals, investment choices, and the person’s broader financial situation should all be reviewed carefully.
This information is educational and general in nature. RDSP eligibility, suitability, tax treatment, investment options, and withdrawal decisions depend on individual circumstances and should be reviewed with an experienced advisor.
Have questions about how an RDSP may fit into your planning? Contact Craven Financial to start a conversation with Financial Planner William (Bill) Craven.
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.
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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.
