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I am an individual with a disability – where is better to invest my money?



Our response:

Although we can’t provide you with advice as to how or where to invest your money, we can provide some information to get you started.

If you qualify for the Disability Tax Credit, you may qualify as a beneficiary of a registered disability savings plan (RDSP). RDSPs are federally registered accounts that can help save for the long-term financial security of you or someone close to you with a disability. Contributions to RDSPs are not tax deductible, but savings grow tax free within the plan. There is no tax on investment earnings, as long as they stay in the plan. Depending on where this type of plan is opened, you can hold a variety of investments. Contributions to RDSPs can be made until the beneficiary is 59, and up to age 49, the beneficiary may qualify for government grants and bonds. Learn more about RDSP basics.

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