A lot of cash
Many seniors don’t trust credit card payments, or they are not really familiar with the process and would rather carry around wads of cash in their wallets. If you’re one of them, it’s time to stop.
Carrying around a big fat wallet is like walking around with a target on your back. Obviously, we’re not in the Wild Wild West but it’s still an invitation for robbers to take your money.
Therefore, it’s best to stick to a credit card and in case your wallet gets stolen or you simply lose it, you just cancel the credit card and that’s that whereas cash money will be gone forever.
According to a Federal Reserve study, around 30% of US transactions are carried out in cash. However, more and more retailers, among which Amazon Go stores and Sweetgreen restaurants, are asking for a cashless system. Not all states agree with this system, with lawmakers in cities like New Jersey, Rhode Island and Philadelphia claiming that it’s a discriminatory solution.
Nevertheless, changes are starting to take place and it’s time for baby boomers to follow in the steps of millennials and give up cash purchases for their own good. Not only millennials but 34% of Americans under age 50 have joined this cashless trend, as stated in a 2018 survey by The Pew Research Center.
You should definitely pass on the next one…..
2 thoughts on “9 Items Retirees Should Never Keep in Their Wallet”
The new Medicare cards do not have SS# anymore.
I said USED to BE…and how stupid was that