Budgeting and Financial Planning

How Retirees Can Cope With Inflation

Rodney Brooks
May 31, 2022

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 reopened after the worst of the pandemic. "Across the country it's a huge concern, especially with the Consumer Price Index at 5% to 5.5%, the highest that we've seen for 13 years," says Brian Robinson, a certified financial planner and partner at SharpePoint in Phoenix, Arizona.

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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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