Unlock Financial Security with RDSPs: Empowering Disabled Canadians

At IG Wealth Management, we understand that securing a solid financial future is a universal goal, regardless of the challenges life may present. That's why we're passionate about introducing you to the world of Registered Disability Savings Plans (RDSPs). This remarkable program has already changed the lives of thousands of Canadians, and it could do the same for you. An RDSP is not just a savings plan; it's a beacon of hope for those living with disabilities. It's designed to provide long-term financial security for individuals facing unique challenges. The program allows parents, guardians, and qualifying family members to contribute to the plan, while the federal government adds matching dollars. Combined with tax-deferred growth, this support helps your savings grow over time.

To establish an RDSP, the beneficiary must be eligible for the federal disability tax credit (DTC), which provides tax relief for Canadians with severe and prolonged impairments in physical and/or mental functions. They should also be a resident of Canada, younger than 60, and possess a valid Social Insurance Number. The plan's holder can be a parent, legal guardian, or qualifying family member of the disabled individual. If the disabled person is of legal age and competent to sign a contract, they can also serve as the plan's holder. The holder has control over contribution amounts, investment choices, and withdrawals.

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