Retirement Living

7 Reasons Entrepreneurs Don't Save for Retirement

Rodney Brooks
May 11, 2018

Owning a business might be part of your American dream. For some baby boomers, entrepreneurship is also a part of their retirement. A report from the Kaufman Foundation found that baby boomers are twice as likely to plan on starting a business as millennials, and the percentage of businesses being started by Americans 55 and older is steadily increasing.

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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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“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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