Retiring While Black:

Inequalities put many Black people on poor footing for retirement. Advice from Black seniors for a path to financial security.

By Brian Vines, Consumer Reports

April 13, 2021 – When you consider unemployment statistics, to be young, employed, and Black may seem like a victory unto itself. That’s even more true if you have a job you call a career and a professional future that looks bright.

>> Read the Consumer Reports feature here.


Ric Edelman details his plan to eliminate retirement income inequity

From Yahoo! Money

March 5, 2021 – Edelman Financial Engines Founder Ric Edelman joins the Yahoo Finance Live panel to discuss how ‘baby bonds’ can help close the racial wealth gap.

>> Watch the Yahoo! Money feature here.


Ric Edelman Proposes Retirement Savings Fix For Future Generations

By Jacqueline Sergeant, Financial Advisor

February 16, 2021 – Unable to save for retirement, millions of Americans rely primarily on Social Security to fund their retirement expenses, which Ric Edelman said was designed to merely supplement a worker’s retirement income.

Edelman, the co-founder of Edelman Financial Engines, has put forth a proposal he believes is the solution to the retirement shortfall. RISE (Retirement Income Security for Everyone) is a savings solution that would provide all future generations of Americans a new source of retirement income starting at age 70, Edelman explained during a recent radio program. It would place all participants at the median of U.S. personal income, which according to the Census Bureau was $38,761 last year.

>> Read the entire Financial Advisor article here.


Bond-based public program would save retirement, Ric Edelman says

By Emile Hallez, InvestmentNews

February 12, 2021 – A proposal from Edelman Financial Engines co-founder Ric Edelman seeks to solve the retirement savings crisis through a savings bond program for newborns.

The idea, Retirement Income Security for Everyone, or RISE, could increase income levels in retirement by 250%, Edelman said. With accounts funded initially by $5,884, people would be able to begin receiving retirement income checks starting at age 70 that augment what they get from Social Security and their 401(k) plan. The program would be managed like a defined-benefit pension plan and could be overseen by a commission, a government-sponsored entity or a private group.

>> Read the entire InvestmentNews article here.


Retirement ‘baby bonds’ could help close the racial wealth gap

By Michelle Singletary, The Washington Post

January 29, 2021 – Imagine celebrating your 70th birthday and finding a monthly check waiting for you to supplement your Social Security benefit. Taken together, the money would put you solidly in the middle-income bracket. And all you’d have to do to receive the money is be born. The “baby bond” concept has rising currency among economists, financial planners and politicians as a potential fix for social insecurity and income disparity among retirees.

Here’s how it works: At no cost to taxpayers, the federal government would sell savings bonds that would fund a pot of money for every baby born in the United States. It’s not parents who would buy the bond but investors, similar to how other savings bonds are sold by the Treasury Department.

>> Read the entire story in the Washington Post here.


A plan to eliminate poverty for all retirees

New proposal eliminates retirement income inequity for all future generations of Americans

GLASSBORO, New Jersey – February 1, 2021 – Ric Edelman, Distinguished Lecturer at Rowan University and one of the most acclaimed financial advisors in the nation, today released a proposal that eliminates poverty in retirement for all future generations of Americans.

Called RISE (Retirement Income Security for Everyone), Edelman’s proposal is permanent and completely self-funding, with no financial support needed by Congress or taxpayers. Instead, the U.S. Treasury Department would sell one RISE Savings Bond for each baby born in America each year. The money would be managed as determined by Congress.