It’s no secret that LGBTQ people face a range of financial challenges that heterosexual people simply don’t need to contend with.
Less discussed are the effects of financial discrimination on building LGBTQ+ generational wealth. The stereotypical view of a wealthy gay couple with no children and a sizable disposable income is just that — a stereotype.
In reality, the “American Dream”— buying a home, getting married, having kids, finding a good job and investing in a 401(k) — is out of reach for many LGBTQ people, according to a survey by TD Ameritrade.
35 percent of LGBTQ millennials say they are unlikely to achieve these goals by age 40, compared to about half of straight millennials.
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