Retirement Living

How the Inflation Reduction Act Impacts Retirees

Rodney Brooks
October 18, 2022

The Inflation Reduction Act of 2022 provides many benefits for retirees and older Americans. If the legislation does slow inflation, it could be a huge benefit to low-income seniors and those living on fixed incomes. The bill will also help tackle skyrocketing health care costs for seniors. However, many significant provisions don’t go into affect for several years.

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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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