But how do you define lower income households? I agree that if your income is so low if just covers basic living expenses, it will be very difficult if not impossible to save for your retirement. Then again, your OAS and CPP benefits will be enough (or almost) to replace your income from employment. But what about middle class households which are not wealthy? I know several families with a fairly modest middle-class income who don't have TFSAs or RRSPs yet vacation down south every winter, have at least one SUV and iPhones for every family member, including the children. It comes down to priorities.