Bear Market Mistakes Retirees Often Make
In times of stock market declines, inflation and uncertainty, financial planners often have to hold the hands of their clients to help them through the volatility. For most people the advice is simple: You have time to wait it out and not react to the market's short-term ups and downs. But the advice is different for baby boomers who have already retired.
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.
