Mar 19, 2021

NGPF Podcast: Dr. Naomi Zewde on how "Baby Bonds" can help close the racial wealth gap

This week on the NGPF Podcast, you will enjoy the conversation with Dr. Naomi Zewde whose research on Baby Bonds has caught the attention of policymakers looking for strategies to close the racial wealth gap. Dr. Zewde describes what led to her research on this topic, her conversations with policymakers and the political considerations to implementing a Baby Bonds program. Enjoy! 


  • 0:00~0:36 Introduction
  • 0:36~9:22 Current Events with Yanely: The Rise of NFTs
  • 9:22~9:48 A word from NGPF
  • 9:48~10:51 Introducing this week’s guest: Dr. Naomi Zewde
  • 10:51~11:25 Dr. Zewde’s background and early money lessons
  • 11:25~14:52 Deciding to research Baby Bonds
  • 14:52~19:21 The current state of Baby Bonds
  • 19:21~23:54 Racial wealth inequities in the US
  • 23:54~26:55 Where should Baby Bonds be held?
  • 26:55~28:06 On speaking to Sen. Corey Booker’s team
  • 28:06~34:25 Political considerations for universal Baby Bonds
  • 34:25~36:55 Narrowing the racial wealth gap
  • 36:55~37:13 The concept of universal baby bonds gaining traction
  • 37:13~38:00 Conclusion



  • “I think that personal finance, when you really don’t have anything, can be frustrating for people. But personal finance combined with a plan, in terms of planning for your future and for the money that you’re going to come into, can be engaging and interesting.”

About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

Ren Makino

Ren started interning at NGPF in 2014, and worked part-time through high school and college. With his knowledge growing alongside NGPF, he joined the team to work full-time after graduating from college in 2020. He is also the producer of the NGPF podcast. During his free time, he likes to try out coffees from different roasters across the world.

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