Retiring on a Low Income: Three (Big) Challenges Canadians Face

Many Canadians will have modest incomes in retirement, but mainstream retirement planning advice often focuses on people with higher incomes. This advice can be unsuitable for people retiring with lower incomes, because following it can lead to paying more tax in retirement, receiving smaller benefits from government programs, or both. Compared with other Canadians, low-income retirees face unique challenges, including: • difficulties in getting good advice, and the risks of...