Budgeting and Financial Planning

Why Saving for Retirement Is More Difficult in 2022

Baby boomers have lived through the tech bubble, the 2008 housing and market crash and even double-digit inflation in the 1970s, but never all these financial crises together… […]
Financial Literacy

How Millennials Should Manage Their 401(k) During the Bear Market

It can be scary to watch your 401(k) balance decline … […]
Financial Literacy

Bear Market Mistakes Retirees Often Make

In times of stock market declines, inflation and uncertainty… […]
Financial Literacy

Pets and Passwords: What People Forget in their Wills

Things change quickly in today’s digital world, and Boomers especially need to keep up. It means you need to make sure your estate plan has been updated to reflect the new… […]
Uncategorized

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… […]
Budgeting and Financial Planning

New Rules in Estate Planning

Although we mark Older Americans Month this month, oldsters would be well advised to consider the Younger Americans in their estate planning. The Secure Act ( […]
Budgeting and Financial Planning

Is an Annuity Right for You?

Is an annuity right for you? One of Americans’ biggest fears is running out of money in retirement. In fact,  […]
Budgeting and Financial Planning

How ERISA Impacts Your Retirement

This federal law determines many of the rules for your 401(k) or pension. The Employee Retirement Income Security Act is a federal law enacted in 1974 that protects… […]
Budgeting and Financial Planning

The Impact of Climate Change on Retirement Planning

Climate change could impact your health and budget in retirement. Climate change is affecting us in ways no one could have imaged just a few years ago, and those… […]
Budgeting and Financial Planning

What Is a Spendthrift Trust?

A spendthrift trust gives you some control over how your beneficiaries can spend inherited funds. There are times when you want to take care of your children in… […]
Financial Literacy

A 401(k) Versus a 403(b) for Retirement Savings

You can save for retirement in a 401(k) plan or a  […]
Budgeting and Financial Planning

How Retirees Can Cope With Inflation

After years of low inflation, many retirees are now concerned about rising prices. Costs for cars, food and gasoline are up, mainly because demand spiked when the economy… […]
Budgeting and Financial Planning

What Is a Deferred Annuity?

Annuities are an integral part of the retirement portfolios of investors who want a guaranteed stream of retirement income. A deferred annuity is a contract that provides the… […]
Financial Literacy

Hard hit by COVID-19, Black Americans are recovering slowly

Linda Butler-Johnson, a 61-year-old widow, hasn’t had steady work for two years, not since she was laid off from her housekeeper job at a Washington, D.C. hotel in the first… […]
Uncategorized

Tax Time Tips for Older Adults

With the filing deadline looming ahead, it’s the perfect opportunity to look at what changes might be in store for retirees and seniors. […]
Financial Literacy

What Is a Bitcoin Roth IRA?

The popularity of cryptocurrency continues to soar, pushed by a younger generation of investors who see it as the future of currencies, despite the volatility and warnings from… […]
Wealth and Health Disparities

Baby bonds? Reparations? There’s no quick fix for racial wealth gap

You learn a lot writing a book, as I did with my latest effort:“ […]
Retirement and 401(k)

Inflation and Retirement

In January inflation rose 7.5 percent, which was a 40-year high – fueled by strong consumer demand combined with pandemic induced supply shortages. Prices rose in several key… […]
Retirement Living

Jump Back Into the Job Market!

This may be an ideal time for older workers to jump back into the job market. Here’s why: The historic “Great Resignation” may offer… […]
Health Care

Long Term Care Insurance and Alternatives

Health care costs remain one of the biggest worries in retirement, rightfully so, since, according to one study, two thirds of people who file bankruptcy cited medical issues… […]
Budgeting and Financial Planning

Family and Finances: Avoiding “The Talk”?

For many, two big family holidays are coming up.  It may be a perfect time for families to talk about their finances. It may well be a perfect time for a family… […]
Budgeting and Financial Planning

Financial Gifts to Kids

Parents and grandparents once thought it was cute to gift a child a single share of Disney or a savings bond. It was practical, and besides introducing a new generation to… […]
Medicare

Happy Birthday, Medicare!

More than 50 years ago, on July 30, 1965, President Lyndon Johnson signed Medicare into law, saying at the time, “I’ll spend the goddamn money,” he said. “I may cut back… […]
Uncategorized

End the "Paper Chase" of Financial Records

Mitchell Katz, partner at CA Wealth Management in Bethesda, Maryland, said one reason he and other financial advisors are so busy is because people were stuck home during the… […]
Retirement Living

The Future of Social Security

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… […]
Uncategorized

Starting a Retirement Business?

It’s a big deal anytime someone decides to start a business, but it’s an especially big deal if you decide to do it after you retire. “I applaud the effort of people… […]
Retirement Living

“Gray” Divorce

Here’s a familiar “grey divorce” scenario – almost. The couple came to financial planner Beau Henderson’s office after the husband was offered an early retirement… […]
Budgeting and Financial Planning

Convert Your Traditional IRA to a Roth

The impact of the pandemic along with low tax rates makes 2021 an opportune time to convert a traditional  […]
Wealth and Health Disparities

The Retirement Crisis Facing Black Americans

Long-standing income and wealth disparities along with low savings rates have endangered retirement readiness for millions of elderly Black Americans, who still haven't… […]
Retirement and 401(k)

5 Reasons to Claim Social Security at Age 70

It's not hard to see the logic. If you wait until you are 70 to take your Social Security benefit, you will receive monthly payments that are 32% higher than the benefits you… […]
Retirement Living

The Differences Between Happy and Unhappy Retirees

Some retirees are happy, while others are downright miserable. According to financial planners, what separates the  […]
Resources for Black Americans

Great Day Washington Interview on WUSA9

Rodney Brooks
|
February 10, 2022
Uncategorized

NABJ Hall of Fame Acceptance

Rodney Brooks
|
December 9, 2021
Resources for Black Americans

SFE&PD Conference Historical Factors Leading to the Wealth Gap

Rodney Brooks
|
December 9, 2021

Recent Articles

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Budgeting and Financial Planning

Why Saving for Retirement Is More Difficult in 2022

Rodney Brooks
|
August 25, 2022
Baby boomers have lived through the tech bubble, the 2008 housing and market crash and even double-digit inflation in the 1970s, but never all these financial crises together… […]
Financial Literacy

How Millennials Should Manage Their 401(k) During the Bear Market

Rodney Brooks
|
August 25, 2022
It can be scary to watch your 401(k) balance decline … […]
Financial Literacy

Bear Market Mistakes Retirees Often Make

Rodney Brooks
|
August 25, 2022
In times of stock market declines, inflation and uncertainty… […]
Financial Literacy

Pets and Passwords: What People Forget in their Wills

Rodney Brooks
|
August 25, 2022
Things change quickly in today’s digital world, and Boomers especially need to keep up. It means you need to make sure your estate plan has been updated to reflect the new… […]
Uncategorized

Life Insurance: Forgotten Financial Tool

Rodney Brooks
|
August 25, 2022
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… […]
Budgeting and Financial Planning

New Rules in Estate Planning

Rodney Brooks
|
July 5, 2022
Although we mark Older Americans Month this month, oldsters would be well advised to consider the Younger Americans in their estate planning. The Secure Act ( […]
Budgeting and Financial Planning

Is an Annuity Right for You?

Rodney Brooks
|
July 5, 2022
Is an annuity right for you? One of Americans’ biggest fears is running out of money in retirement. In fact,  […]
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Rodney Brooks

Hello! I’m Rodney A. Brooks. I am a veteran 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, ESPN’s The Undefeated and National Geographic.

 

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“Rodney Brooks is our most thoughtful and practical guide to managing our financial lives. He offers sensible solutions and help at all life stages.”

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Be sure to check out "Fixing the Racial Wealth Gap" by Rodney Brooks

"Rodney A. Brooks's “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 Wealth Gap is revealing, humorous, instructive and sobering." - Dr. George C. Fraser

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