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LGBT baby boomers face tough retirement hurdles

Sunday, November 30, 2014
Jim Albaugh picks basil leaves to from a plant in his window while cooking dinner at the west side Manhattan apartment that he shares with two roommates in New York. Albaugh is among the thousands of gay and lesbian baby boomers confronting a retirement of greater financial hardship than his straight peers.
For many LGBT baby boomers, decades of workplace discrimination impaired their earning power. The AIDS crisis caused lasting financial and psychological damage, particularly for gay men. And legal pitfalls within Social Security, the cornerstone in any senior’s financial planning, have left gay boomers ill-equipped for retirement. [...]

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Financial tips for same-sex couples: plan ahead, know your local laws

Sunday, November 30, 2014
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Gay and lesbian individuals are less prepared financially for retirement than their straight counterparts, according to an exclusive analysis by The Associated Press-NORC Center for Public Affairs Research. LGBT adults are likely to have less in retirement savings and have less access to Social Security benefits from spouses. [...]

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Path to financial stability, long-term care for aging LGBT individuals starts now

Sunday, October 19, 2014
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The lack of clarity on what the future may hold is compounded by the fact that unlike their heterosexual peers, LGBT seniors often lack traditional family support systems, which heightens their need to create long-term plans for their future… Most of these individuals will derive no benefit from the new [...]

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A financial checklist for married, same-sex couples

Thursday, July 4, 2013
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NEW YORK -- After celebrating the Supreme Court's historic rulings on gay marriage last week, it's time for same-sex married couples to sit down and go over their finances. [...]

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Suze Orman: Gay Americans pay more taxes for fewer rights

Monday, February 25, 2013
Suze Orman (left) and Kathy Travis
Personal finance expert Suze Orman says that the Defense of Marriage Act (DOMA), which bars the federal government from recognizing legal same-sex marriages, imposes steep financial penalties on gay and lesbian couples. [...]

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Morgan Stanley Wealth Management launches LGBT initiative

Wednesday, December 26, 2012
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Morgan Stanley has announced the launch of an LGBT initiative to provide its financial advisors with wealth planning tools, business development and marketing resources designed specifically for LGBT prospects and clients. [...]

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