How Seniors Can Thrive in a Cashless World

A cashless world may be a daunting challenge for seniors, but they can prosper if they learn to appreciate its benefits and have the resources to capitalize on technological innovations, reports MarketWatch . One advantage to not carrying physical cash is a greater sense of security. Seniors may also discover that electronic payments help them better track their spending and keep to a budget. Many free budget apps connect to traditional saving or checking accounts, but they are even more useful when embedded within mobile payment platforms. Retirees who want to adopt to a cashless world may rely on family and friends for assistance. "Pick the right source to get informed on subjects like contactless payment, biometric identification, and open banking," recommends Paul Armstrong, founder of emerging technology advisory firm Here/Forth. "Seek help from those you trust." Deepali Vyas, senior client partner at Korn Ferry, advises seniors to adjust to a cashless world at their own pace.