Good news!  We have been in the process of developing an RDSP calculator and are close to launching it on our blog.  This calculator will allow people to see exactly what kind of growth and payments they will see in an RDSP over their lifetime.  The calculator will allow you to see:

– the annual amount of Disability Savings Grant you will receive;

– the annual amount of Disability Savings Bond you will receive;

– the total yearly government contribution;

– the annual contributions of family and friends;

– the total annual value of the RDSP over its lifetime;

– the age at which you can begin to withdraw without penalty;

– if you withdraw within 10 years of receiving the grant and bond, how much it will impact your plan value;

– the impact of your provincial benefits on the RDSP;

– the annual disability payments you would receive;

This calculator will let you run through different scenarios so that you can understand how much potential growth there is within the RDSP.  By choosing different options, such as:

– whether you want to invest the RDSP very conservatively, conservatively or more moderate;

– whether there will be potential lump sum contributions;

– whether you foresee family and friends contributing on an annual basis;

– when you will begin the plan;

-when you want to start receiving payments from the plan;

– what is your taxable income;

you will be able to gage how the RDSP will work for you.  As you can probably tell, we are very excited that we are going to be able to provide you with this tool.  We are expecting to launch this calculator by the end of this month.  We have been running tests on it to ensure it’s accuracy (with the help of financial planners) and are in the process of making it “web-ready”.

If you get a chance, make sure to check this blog in the upcoming weeks and try out our calculator when it becomes available.