While looking for government programs here in Canada for people with disabilities, I happened upon the Registered Disability Savings Plan. It looked great. The government would match from $1000 to $3000 per year for money put into these accounts. There was more money available for low income households as well. We thought this would be a great way to put some money aside for their future needs
I had an appointment with the bank today to find out some more details about the plans. I understood the basics about contributing to the plan, but I was more interested in taking money out. If at some point our boys' needs grow beyond what we can provide at home, we want to be prepared for that financially and this seemed like the perfect plan for that. We could use the disability payments Hayden gets now and start putting them into the RDSP.
Unfortunately, as its currently setup, the RDSP is not a good option for boys with DMD. Until they are 28, there is no way to take money out of the account, and if money is removed before the age of 60, the government portion is not available. While we hope for things to change, this just isn't something worthwhile for out boys.