Fixing the Racial Wealth Gap

Rodney Brooks ’75

Brooks is a veteran financial journalist who has published columns in U.S. News & World Report, the Washington Post, USA Today, and elsewhere. As he notes, he has also long served as an informal advisor to friends, family, and colleagues—encouraging them to practice financial literacy and sound retirement investment. He puts that advice on paper in this practical guide, geared toward helping fellow African Americans build their nest eggs and secure a stronger financial future. As he notes, the racial disparity in assets is stark: while the net worth of the average white family in the U.S. is $171,000, for the average Black family it’s just one-tenth that amount: $17,150. The book includes chapters on why making a budget is crucial, the path to becoming a “401(k) millionaire,” and tips on preventing your finances from being negatively impacted by others, including family members. As Brooks puts it: “My advice will make you Blacker, financially speaking.”

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