It’s already a challenge for employees to save enough for retirement, but LGBTQ workers face additional barriers that can block them from financial freedom.
While the median retirement savings for an opposite-sex married couple is estimated to be $88,000, LGBTQ couples have only saved $66,000, according to data from UBS. Due to a multitude of factors, this demographic may be headed toward a financial crisis without the right interventions, says Barrett Scruggs, VP of workplace financial well-being at SoFi at Work.
