Generally, being low income in Canada means your income is less than the median household income. This amount changes depending on whether you're married or single, whether you have children and where you live, but in 2020 for a single person in Canada, it meant an income of about $20,747 to $32,799 per year. Or, for a household, an income of about $41,493 to $46,385.
Retiring in Canada can be expensive and being a lower income Canadian can make it even harder to budget and plan a successful retirement. You may not have company pensions, large RRSP savings or other sources of income planned out and could be wondering how you'll afford retirement.