ELI5: RDSP, Disability Tax Credit

RDSP is a registered disability savings plan. I have one in place for my autistic daughter. I put money in each year and the government grant provides her with an additional 3500 a year. The value of the grant is based upon how much you put in.

It's a government sponsored savings plan for those who are eligible and there is an explanation of the rules etc on the canada.ca website.

Most banks will help you set up the account. After submitting all the documentation my daughter's took about 6 weeks to get approved.

I chose to set up an account with TD Bank as they are one of the only banks that allows you to have a self directed investment portfolio. The other banks all insist you have to invest in their high cost funds.

I chose a few low cost ETFs for my daughter's account.

Read up on it. Just google it and there is a lot of really good info available

Good luck

/r/PersonalFinanceCanada Thread