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OfflineSpencerPhillips
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Registered: 08/18/12
Posts: 656
Loc: ON, Canada Flag
Last seen: 5 days, 17 minutes
R.D.S.P. (Canadian Thing)
    #21959424 - 07/18/15 06:30 AM (8 years, 6 months ago)

RDSP stands for Registered Disability Savings Plan

Anyone on Shroomery have this set up?

If your in Canada and disabled, it's a sweet deal. (The plan not being disabled)

Reason I wanted to post this is because, my mutual funds are going up. Don't have a top 8 yet, just two that i'm focusing on for now.


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InvisibleAhab McBathsalts
OTD Windmill Administrator
Other User Gallery Ultimate Champion: Blackjack


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Registered: 11/25/02
Posts: 35,109
Loc: Wind Turbine, AB Flag
Re: R.D.S.P. (Canadian Thing) [Re: SpencerPhillips]
    #21966639 - 07/19/15 06:53 PM (8 years, 6 months ago)

There was a guy with an RSDP on these boards a while ago, a search should reveal all. The thing I took away from the RSDPs is that your choices of plans are very limited to some mutual funds by big banks and you get unfairly hit with management fees.

That said, it is a good government program that can assist you in your daily living.


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OfflineSpencerPhillips
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Registered: 08/18/12
Posts: 656
Loc: ON, Canada Flag
Last seen: 5 days, 17 minutes
Re: R.D.S.P. (Canadian Thing) [Re: Ahab McBathsalts]
    #21966723 - 07/19/15 07:13 PM (8 years, 6 months ago)

mine is called rdsp, in ontario.

basically the government gives you $1000 grant (per year) from 2005 until now.

you can turn that savings into GIC, or mutual funds yes.

banking at TD or TD waterhouse, you can use the rdsp to invest in actual stocks and funds with lower MER, i do not bank there though.

it doesnt verymuch assist you in daily living until you reach 59 years old, which in ontario is coincidentaly when the ODSP ends, and CPP starts i think.

and i think you cannot sign up after 49 years of age.


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OfflineSpencerPhillips
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Registered: 08/18/12
Posts: 656
Loc: ON, Canada Flag
Last seen: 5 days, 17 minutes
Re: R.D.S.P. (Canadian Thing) [Re: SpencerPhillips]
    #21966731 - 07/19/15 07:15 PM (8 years, 6 months ago)

as well the part about "management fee's and unfairness."

the government gives you several thousands of dollars, where could you go wrong


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