Planning for Retirement on a Low Income workshops will be offered again this spring at 9 library branches in Toronto, thanks to generous funding from The Rotary Club of Toronto. The goal of this workshop is to provide low-income attendees, in plain language, with a complete picture of benefits available to them, explain how these benefits interact, and outline best strategies for long term retirement planning on a very limited income. John Stapleton, Metcalf Foundation Fellow and social policy expert, is the presenter.
The impact of the series cannot be overstated. Mainstream financial advice is in most cases, inappropriate and detrimental to low-income earners. For example, advising a low-income person to save within an RRSP, can be very bad advice as it reduces their Guaranteed Income Supplement. Simply put, this information is not readily available elsewhere, and fills a real need. The 9 workshops in the fall 2016 series attracted 523 attendees – mostly disadvantaged persons in need of any available assistance, or someone attending on their behalf.