Racial/ethnic inequalities in dementia risk are a major public health and health justice concern. Group differences that persist despite adjustment for socioeconomic and vascular indicators suggest that known dementia risk factors exhibit differential impact across race/ethnicity and/or there are unrecognized dementia risk factors that are racially patterned. This article provides targeted examples of both of these possibilities. First, depressive symptoms and white matter hyperintensities represent two known dementia risk factors that more strongly relate to negative cognitive outcomes among Black older adults than Whites, pointing to the need to consider contextual factors. Second, racial discrimination and external perceived control predict worse brain and cognitive aging above and beyond known risk factors. These psychosocial factors warrant explicit consideration in dementia cohort studies. Several challenges appear to be particularly relevant to the study of dementia inequalities, including selective survival and recruitment. These challenges complicate not only cross-study comparisons, but also within-study causal inferences. This article provides recommendations for addressing these challenges in order to accelerate high-quality research on dementia inequalities. Stemming from these recommendations, the article introduces the design and methods of the Michigan Cognitive Aging Project, a new, racially-balanced cohort study of Black and White adults transitioning to late life. In sum, careful research with community partners is needed to more fully explore the factors and contexts that create and sustain racial/ethnic disparities, as well as those that buffer against them. The ultimate goal of this research is to facilitate the dismantling of structural barriers to health justice for diverse older people. (PsycInfo Database Record (c) 2022 APA, all rights reserved).