Preparing for a secure financial future is a daunting task for any employee. But for members of the LGBTQ community, new research shows that they often feel their uphill climb is a bit steeper, and they’re falling behind financially.
Nationwide Retirement Institute recently surveyed 1,000 LGBTQ adults in the United States about their financial needs and challenges, and found that nearly two-thirds are living paycheck to paycheck; that number jumps to 72% for Black LGBTQ members. The community largely reports feeling less prepared than their peers outside the LGBTQ community when it comes to retirement (13%), investing (8%) and estate planning (12%).
