Budgeting and Financial Planning
6 Ways to Cut Costs in Retirement
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August 18, 2023
As if retirement wasn’t hard enough, inflation and economic uncertainties are adding to the pressures.
Money is a big part of the stress. Financial planners generally recommend that people plan on spending 70% to 80% of their preretirement income during retirement.
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Rodney Brooks
An award-winning journalist, writer and author and my specialty is retirement planning and other personal finance issues. I have written for many national publications, including USA TODAY, The Washington Post, U.S. News & World Report, AARP and National Geographic. I am available to speak on personal finance, financial literacy and the racial wealth gap.
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The author tells the history of the Freedman’s Savings Bank, how it grew much too quickly, why it failed and the impact on Black America. The Freedman’s Bank offered a safe depository for formerly enslaved people, expanded quickly and gained millions in deposits – mostly ranging from $5 to $50. But inexperience and corruption doomed it to failure, costing may of the small depositors their savings.
