User:Peculiar Investor/Retirement on a low income

Low-income people shouldn't follow "conventional wisdom" about Registered Retirement Savings Plans (RRSPs) and such, but rather plan around government support programs like Old Age Security (OAS) and Guaranteed Income Supplement (GIS). Many low-income seniors receive higher incomes when they turn 65 and get OAS, GIS and the Canada Pension Plan retirement benefit. Mainstream advice assumes you will earn less when you retire.