Articles

Retirement Living

The Future of Social Security

Rodney Brooks
|
September 24, 2021

Social Security paid more than $1 trillion in benefits to 65 million recipients in 2020. Since 2010, the system has been bringing in less revenue than it pays out in benefits and covering the shortfall with its reserves. Here's a look at what could happen to Social Security in the future.

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Authored By Rodney A. Brooks


TRAFOTFBThe 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.

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“Rodney A. Brooks’ ‘Fixing the Racial Wealth Gap’ is one of the best written and most prescriptive books I’ve read on this prickly subject. Using powerful stats, stories and insightful wisdom, it is written from the heart, mind, body and spirit … plus years of research and thought as a mainstream journalist, Fixing the Racial Wealth Gap is revealing, humorous, instructive and sobering.” – Dr. George C. Fraser

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