What are the top investments queer people need ASAP
Commit today to start saving for your very own piece of real estate (whether as your primary home or first investment) and start increasing your contributions to a retirement investing account. If you want to reach financial sustainability and financial independence, start here by getting rid of any credit card debt with the free, 7-Step Credit Card Debt Slasher.
Watch the top investments queer people need
Are queer folk missing out on top investment opportunities?
Yikes! Queer folks are missing out on the two leading wealth generators, real estate, and stock market investing. Real estate and stock market investments – the two leading wealth builders. As we shared on Queer Money® episode # 349, our community experiences discrimination by the financial services industry at a very high rate than the general population. Per the University of Iowa, same-sex couples are 73% more likely to be denied a mortgage than heterosexual couples. It’s also true that we’re not making homeownership or real estate investing a priority.
As we shared on Queer Money episode # 351, the queer community’s not averse to debt, as we have more credit card debt, auto debt, and personal debt than the general population. Also likely that we’re not making investing for retirement a priority, either. Per Pride Co-Op, the LGBTQ+ purchasing power is $1.4 trillion, and per Experian’s 2018 LGBTQ+ Money Survey, we spend most on travel, entertainment, and personal hygiene.
It could also be true that we’re avoiding talking with a financial planner or advisor because we still believe they’re all (still) pale, male, and stale. It’s just not true as much anymore, and we can’t sacrifice our financial security because of hang-ups with bullies. We’ve been overcoming them our whole lives. It is not time to stop fighting when it comes to our retirement investing. Doing these will help both you and the queer community. Commit today to start saving for your very own piece of real estate (whether as your primary home or first investment) and start increasing your contributions to a retirement investing account.
Previous Bonus Podcast Episodes
- 3 Best Tips to Build a Rainy Day Fund
- The State of LGBTQ Credit in the US
- What’s the State of Healthcare in the Queer Community
Click below to listen to this bonus episode