#78 — Brian Orlando (Returns): Registered Disability Savings Plan (RDSP) 101

Our guest this episode is Brian Orlando — Halifax-based CPA and founder of Calm Money Coach, one of Canada's fastest-growing advice-only personal finance platforms. Brian first joined us on Episode #53 to make the case for keeping your finances simple, and he returns this time to tackle one of the most generous and least-used accounts in the country, the RDSP.

In this episode, Dave and Brian take a deep dive into the Registered Disability Savings Plan (RDSP): who qualifies, how the government matching rules work, what the Canada Disability Savings Bond provides for lower-income families and how the 10-year look-back rule can unlock years of retroactive grants. They break down why an RDSP can be worth up to $90,000 in government grants and bonds, how to invest inside the plan and why it often deserves priority over an RRSP or TFSA.

The conversation also explores how the RDSP interacts with other government benefits, how withdrawals are taxed, the widely misunderstood 10-year clawback rule and the costly mistake of leaving registered accounts sitting in cash or GICs. Along the way, Brian shares how Calm Money Coach has evolved since his last visit, why basic cash flow management still matters most, how extreme spending on kids' sports can quietly derail savings goals and the peace of mind that comes from finally getting on top of your finances.

Whether you or someone in your family may qualify for an RDSP, or you simply want to understand a savings program that only a fraction of eligible Canadians are using, this episode is full of clear, practical guidance you can act on right away.

Show Notes

(00:00) Intro & Disclaimer

(00:55) Intro to Brian Orlando

(02:33) The Making of Calm Money Coach

(06:52) Brian's Business Models

(09:06) Who Qualifies for an RDSP?

(12:57) Organizations That Offer RDSP Support

(13:53) RDSP Matching Rules

(16:10) The Canada Disability Savings Bond

(17:32) The 10-Year Look-Back Rule for Retroactive Grants

(20:07) Someone Should Become a Dedicated RDSP Specialist

(20:58) Prioritizing the RDSP Over an RRSP or TFSA

(24:15) How to Invest Inside the RDSP

(26:46) RDSPs Can Be Worth $90,000 in Government Grants and Bonds

(27:51) How the RDSP Affects Other Government Benefits

(28:54) How RDSPs Are Taxed

(29:48) The Costly Mistake of Leaving Registered Accounts Sitting in Cash or GICs

(32:13) Misunderstanding Around the 10-Year Clawback Rule on RDSP Withdrawals

(33:32) Why Basic Cash Flow Management Matters Most

(35:29) How Extreme Spending on Kids' Sports Derails Savings Goals

(36:39) Pay Yourself First

(38:11) How Getting on Top of Your Finances Brings Peace of Mind

(40:02) Conclusion