Retirement Living

Money: Is a Reverse Mortgage Right for You?

Rodney Brooks
May 19, 2023

America is facing retirement crisis. People are not saving enough for retirement while, at the same time, they are living longer.

Fifty percent of men between 55 and 66, and 47 percent of women, have nothing saved for retirement, according to the U.S. Census.

Nighttime TV and cable airwaves are filled with celebrities pitching reverse mortgages as a solution. But many financial planners dislike them and will only recommend then as a last resort to cash-strapped clients.

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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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Opportunities to Meet the Author & Book Signings
NABJ Author’s Showcase
Thursday, August 1, 2024 at 11:00 a.m.

National Association of Black Journalists Convention
Hilton Chicago
720 S Michigan Avenue
Chicago, IL 60605





“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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