How Tax Reform Will Actually Help 401(k) Savers
When the tax reform talks started a few weeks back, there were murmurs that Congress and the Trump administration would sharply reduce how much employees could save for retirement through 401(k) plans. That trial balloon popped, and here’s a surprise: Congress may now actually improve things for 401(k) savers by changing the rules on 401(k) withdrawals and loans.
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.
Sign Up For My Newsletter!
Subscribe for the latest news and features
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.
