Comments on: Registered Disability Savings Plan http://www.canadiancapitalist.com/registered-disability-savings-plan/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bill http://www.canadiancapitalist.com/registered-disability-savings-plan/#comment-217197 Bill Fri, 23 Apr 2010 20:30:15 +0000 http://www.canadiancapitalist.com/2008/01/02/registered-disability-savings-plan#comment-217197 I have a friend who has a disabled child. I have done some investigation on her behalf. I believe that one of the unfortunate things is, at present, the funds can be placed in: a savings account, GIC's, or mutual funds(and it seems the financial institutions are really pushing managed mutuals which charge even higher expenses). Over the long term the growth of the funds in the plan could be dramatically increased if the plan could own stocks or bonds or any of the presently offered instruments. Some quick calculations lead me to believe the finacial institutions could end up generating far more earnings on these plans than the owner of the plan. I have a friend who has a disabled child. I have done some investigation on her behalf. I believe that one of the unfortunate things is, at present, the funds can be placed in: a savings account, GIC’s, or mutual funds(and it seems the financial institutions are really pushing managed mutuals which charge even higher expenses). Over the long term the growth of the funds in the plan could be dramatically increased if the plan could own stocks or bonds or any of the presently offered instruments. Some quick calculations lead me to believe the finacial institutions could end up generating far more earnings on these plans than the owner of the plan.

]]> By: Notes from Budget 2010 | Canadian Capitalist http://www.canadiancapitalist.com/registered-disability-savings-plan/#comment-212337 Notes from Budget 2010 | Canadian Capitalist Thu, 04 Mar 2010 22:21:39 +0000 http://www.canadiancapitalist.com/2008/01/02/registered-disability-savings-plan#comment-212337 [...] of children with disabilities can carry forward the Registered Disability Savings Plan (RDSP) grants and bonds for 10 years. (Page [...] [...] of children with disabilities can carry forward the Registered Disability Savings Plan (RDSP) grants and bonds for 10 years. (Page [...]

]]> By: 2009 Year-end financial deadlines | Canadian Capitalist http://www.canadiancapitalist.com/registered-disability-savings-plan/#comment-206178 2009 Year-end financial deadlines | Canadian Capitalist Wed, 09 Dec 2009 15:18:52 +0000 http://www.canadiancapitalist.com/2008/01/02/registered-disability-savings-plan#comment-206178 [...] 31, 2009: Last day to make a contribution to the Registered Disability Savings Plan and receive the disability savings [...] [...] 31, 2009: Last day to make a contribution to the Registered Disability Savings Plan and receive the disability savings [...]

]]> By: martha johnston http://www.canadiancapitalist.com/registered-disability-savings-plan/#comment-189645 martha johnston Mon, 20 Apr 2009 23:59:10 +0000 http://www.canadiancapitalist.com/2008/01/02/registered-disability-savings-plan#comment-189645 thank you for this information thank you for this information

]]> By: A Week in Review: Edition #1 | My Findependence Day http://www.canadiancapitalist.com/registered-disability-savings-plan/#comment-182706 A Week in Review: Edition #1 | My Findependence Day Fri, 20 Feb 2009 18:19:25 +0000 http://www.canadiancapitalist.com/2008/01/02/registered-disability-savings-plan#comment-182706 [...] - Canadian Capitalist discusses the introduction of RDSP accounts by two major [...] [...] – Canadian Capitalist discusses the introduction of RDSP accounts by two major [...]

]]> By: Martin http://www.canadiancapitalist.com/registered-disability-savings-plan/#comment-181721 Martin Sat, 07 Feb 2009 00:23:51 +0000 http://www.canadiancapitalist.com/2008/01/02/registered-disability-savings-plan#comment-181721 The really sad part about this program is that most financial institutions have decided NOT to provide this plan because they do not belive it will be profitable for them. BTW I do know of one low income family that pooled their resorces from grandparents, parents, siblings & other parties to come up with the $1,500 so they could qualify for the $3,500 grant. The really sad part about this program is that most financial institutions have decided NOT to provide this plan because they do not belive it will be profitable for them.
BTW I do know of one low income family that pooled their resorces from grandparents, parents, siblings & other parties to come up with the $1,500 so they could qualify for the $3,500 grant.

]]> By: Geoff http://www.canadiancapitalist.com/registered-disability-savings-plan/#comment-110887 Geoff Wed, 06 Feb 2008 17:59:46 +0000 http://www.canadiancapitalist.com/2008/01/02/registered-disability-savings-plan#comment-110887 This is in reply to your post Jennie. Private contributions can continue up till the end of the year the beneficiary turns 59. It is the government grants and bonds which are no longer available after the year in which the beneficiary turns 49. The reason for this is the 10 year holdback provision and the requirement that normal payments must start before the end of the year the beneficiary turns 60. So, as long as the beneficiary does not withdrawal funds prior to the year in which they turn 60, the government should not be able to take back the grants and bonds and the associated earnings on those grants and bonds due to the 10 year holdback on funds. This is in reply to your post Jennie.
Private contributions can continue up till the end of the year the beneficiary turns 59. It is the government grants and bonds which are no longer available after the year in which the beneficiary turns 49.
The reason for this is the 10 year holdback provision and the requirement that normal payments must start before the end of the year the beneficiary turns 60.
So, as long as the beneficiary does not withdrawal funds prior to the year in which they turn 60, the government should not be able to take back the grants and bonds and the associated earnings on those grants and bonds due to the 10 year holdback on funds.

]]> By: Comment on Registered Disability Savings Plan by Jennie | Save Money! http://www.canadiancapitalist.com/registered-disability-savings-plan/#comment-108590 Comment on Registered Disability Savings Plan by Jennie | Save Money! Fri, 01 Feb 2008 00:15:17 +0000 http://www.canadiancapitalist.com/2008/01/02/registered-disability-savings-plan#comment-108590 [...] Jackson Citizen Patriot wrote an interesting post today onHere’s a quick excerptThe problem with this plan is that it discriminates against people with disabilities by only allowing contributions up to the age of 49. What makes the disabled so different from everyone else who can put money in until their late 60s? … [...] [...] Jackson Citizen Patriot wrote an interesting post today onHere’s a quick excerptThe problem with this plan is that it discriminates against people with disabilities by only allowing contributions up to the age of 49. What makes the disabled so different from everyone else who can put money in until their late 60s? … [...]

]]> By: Jennie http://www.canadiancapitalist.com/registered-disability-savings-plan/#comment-107891 Jennie Wed, 30 Jan 2008 17:43:23 +0000 http://www.canadiancapitalist.com/2008/01/02/registered-disability-savings-plan#comment-107891 The problem with this plan is that it discriminates against people with disabilities by only allowing contributions up to the age of 49. What makes the disabled so different from everyone else who can put money in until their late 60s? It particularly discriminates against older disabled people who will not have time to put enough money into the plan to have enough to get by when their parents die. We're lookin' at civil rights lawsuits here! More cost to the taxpayer! The problem with this plan is that it discriminates against people with disabilities by only allowing contributions up to the age of 49. What makes the disabled so different from everyone else who can put money in until their late 60s? It particularly discriminates against older disabled people who will not have time to put enough money into the plan to have enough to get by when their parents die.

We’re lookin’ at civil rights lawsuits here! More cost to the taxpayer!

]]> By: Weekend Reading - Jan 11, 2008 | Million Dollar Journey http://www.canadiancapitalist.com/registered-disability-savings-plan/#comment-100946 Weekend Reading - Jan 11, 2008 | Million Dollar Journey Fri, 11 Jan 2008 07:31:38 +0000 http://www.canadiancapitalist.com/2008/01/02/registered-disability-savings-plan#comment-100946 [...] of this financial burden, there are some Canadian programs that you can take advantage of.  Canadian Capitalist writes about the Registered Disability Savings Plan (RDSP) and  WhereDoesAllMyMoneyGo writes [...] [...] of this financial burden, there are some Canadian programs that you can take advantage of.  Canadian Capitalist writes about the Registered Disability Savings Plan (RDSP) and  WhereDoesAllMyMoneyGo writes [...]

]]>