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October 16, 2014

Political Notes: Retirement costs worry LGBT seniors, says report

The Bay Area Reporter
By Matthew S. Bajko

A new report has detailed that LGBT seniors are worried they will be unable to afford their retirement years.

The report, "Out and Visible: The Experiences and Attitudes of Lesbian, Gay, Bisexual and Transgender (LGBT) Older Adults, Ages 45-75," found that 42 percent of LGBT older people are "very or extremely concerned" that they will outlive the money they have saved for retirement. Among heterosexuals, only 25 percent share such a concern, noted the report.

The study also found that 44 percent of LGBT older people are "very or extremely concerned" that they will have to work well beyond retirement age in order to have enough money to live on, as compared to the 26 percent of non-LGBT people who hold a similar concern.

Released October 6 by Services and Advocacy for GLBT Elders, or SAGE for short, the report's findings are based on a national survey of 1,857 LGBT people and 519 non-LGBT people, conducted in March by the Harris Poll on behalf of SAGE.

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