What is a Registered Disability Savings Plan (RDSP) and Are You Eligible?
Caring for a loved one with a disability can be difficult but securing their financial future doesn’t have to be.
What is an RDSP?
A Registered Disability Savings Plan (RDSP) , is a matched savings plan created specifically by the Canadian government for qualified citizens, under the age of 60, with disabilities. This unique savings plan allows you to create long-term financial security and will help lift the heavy burden of planning for the future of your loved one with special needs.
Whether you have little or no money to invest, have very low income, or can care for your loved one financially, will add the financial freedom of your loved one in the future. With an RDSP you will also be eligible for government bonds of up to $20,000 and grants of up to $70,000.
Build on Your Disability Tax Credit
In order to qualify for an RDSP, your loved one must be receiving the Disability Tax Credit. This tax credit is full of it’s own financial benefits and is the starting point for making sure your loved one is financially secure. In combination with an RDSP, your Disability Tax Credit will help grow this financial security.
RDSP in Guelph
While this savings plan may be complicated, you do not have to do it alone. The RDSP Guy, Ken White, Branch Manager of Guelph Financial with Investment Planning Counsel, can help you through every step of the process. Ken will ensure that you receive the maximum benefits you are entitled to under the RDSP program.
Once you have set up your RDSP, Ken will continually monitor your plan to make sure it is complying with all rules and regulations set out by the Canadian government, ensuring that you receive the most money possible. Contact us to learn more about RDSP’s in and to start securing the financial future of your loved one with a disability.