Life Insurance: Forgotten Financial Tool
Life insurance should be a key component of your financial plan, especially for retirees and pre-retirees.
“I would recommend highly that everyone who’s concerned about not only their financial well-being but that of their spouses and the next generations look closely at the economic value that life insurance could play in meeting their financial objectives,” says Eric Bailey, CEO and founder of Bailey Wealth Advisors in Silver Spring, Maryland.
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.
