4 LGBTQ+ retirement hurdles (and what to do about them)
By KATE ASHFORD of NerdWallet
In many ways, retirement planning for someone in the LGBTQ+ community follows the basic tenets of anyone’s retirement planning: save more, spend less, invest for the long term. But there are some unique challenges. Historically lower incomes mean LGBTQ+ people have less to save for later years. Because they’re less likely to have children and may not have traditional family support structures, people in the LGBTQ+ community must plan more carefully for long-term care. And it’s also crucial to have clear estate planning documents, as fewer same-sex couples are married. From savings to insurance planning, here’s what planners recommend.
