Good morning. A discussion repeatedly comes up on Reddit’s r/PersonalFinanceCanada, where people reveal what they spent money on that had the highest return on life (ROL). Some great ones that are typically mentioned include a quality mattress, bidet and an Ember mug. What is a purchase that you’ve made that has had the highest ROL? Let us know by taking this quick survey.

Buying a beer at Toronto’s Scotiabank Arena. Eating a funnel cake at Canada’s Wonderland. At both venues, don’t bother pulling out your wallet if you’re paying with cash. They’re cashless, and they’re not alone.

More businesses across Canada are opting for digital payments only, from chain convenience stores to major event venues. And while this shift may seem seamless for some Canadians, it’s creating real challenges for others, especially seniors.

Between 2017 and 2022, cash payments in Canada dropped by 59 per cent, according to Payments Canada. Yet 87 per cent of Canadians still use cash in some form and nearly a third rely on it for everyday transactions, such as buying small items, paying bills, or reimbursing a friend. Canadians aged 55 and older are among the most frequent users.

Wendy Horwood, 61, says the move to a cashless society has been affecting her. Living in Bath, Ont., about 20 minutes from Napanee, she says she prefers using cash. It helps her stay on top of her budget since her husband, who passed away in the past year, used to handle their finances.

But when she tries to pay with cash and is turned away, it’s not just inconvenient. It’s upsetting.

“You’re standing there looking stupid, and people are behind you. It’s embarrassing,” she said. “You just want to crawl under a tree because they won’t take your money. I know it’s not life-threatening, but still, it’s not a nice feeling.”

While many older Canadians are adapting to digital tools, cash still represents more than a payment method. It offers a sense of control and security. And as more places turn away from it, some feel left behind.

Do you still use cash? Let me know by e-mailing me at mraman@globeandmail.com.

$100-billion+

That’s how much Canadians have poured into target-date funds as of 2025, which are portfolios that automatically shift from stocks to bonds as you near retirement. Assets in these funds have doubled since 2020, according to a new report from Morningstar.

Why the surge? People want set-it-and-forget-it retirement plans, and these do just that. Most start out heavy in stocks, then slowly dial it back to around 43 per cent in stocks by retirement age, according to Morningstar.

Can he retire early, help his daughter buy a home, and still have enough to live on?

That’s the question Omar, 56, and his wife, Tanya, also 56, are asking as they plan the next phase of their lives.

The numbers: With $4.4-million in net worth, including a mortgage-free home, $1.7-million in registered accounts and $1.4-million in non-registered investments, they’re in strong financial shape. Omar earns $160,000 in the finance industry, while Tanya is already retired. They want to maintain $100,000 a year in after-tax spending and give their daughter $250,000 toward a home.

The situation: The question is not whether they can retire, but if Omar can retire early, before his defined-benefit pension kicks in at 65. They’re wondering how to draw down their savings to minimize taxes, whether the gift will throw off their retirement, and which accounts to tap first.

Key steps, from a financial planner: Omar should be able to retire early, with a strategic plan. In the early years, before government benefits and Omar’s pension kick in, they should draw from their RRSPs or RRIFs while their income is low to reduce future taxes. The $250,000 gift can come from their non-registered account without putting their retirement at risk.