Protect Your Heart - and Your Wallet
In the past five years, people have lost a staggering $1.3 billion to romance scams, according to the Federal Trade Commission – including a record $547 million in 2021. That’s a nearly 80% increase from 2020, the agency said.
People 70 and older reported the highest individual median losses, at $9,000. Seldom is any of that money recovered. So, the best advice from the experts is to beware and be careful.
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.
