In the Black

Starred review from March 23, 2009
Veteran financial adviser Smith focuses on the financial needs of African-Americans, emphasizing the importance of saving, budgeting, investing in retirement plans and risk management, all with an eye to historical patterns that may impede African-Americans from attaining financial security (such as the community’s resistance to investing). Sprinkling the text with references to spirituality and to his Aunt WaWa’s no-nonsense advice, Smith shares uplifting case studies of clients and public figures, ranging from the wealthy and successful (e.g., Supreme Court Justice Clarence Thomas, a multimillionaire couple, a single mother and successful entrepreneur) to those struggling to find their financial footing (e.g., one man fighting to rebuild his life postincarceration and another who successfully overcame the addictions that had destroyed his family life and left him destitute). With nine million African-American baby boomers slated to retire between now and 2029 and the current economic crisis testing the confidence of the public at large, Smith’s work is a timely volume urging individuals at all income levels to improve their financial literacy and take control of their economic futures.