LGBTQ+ Community Page

Find educational opportunities and tools to support the unique needs of your LGBTQ+ employees and promote financial wellness throughout Pride Month and all year long.

LGBTQ_Community_Page_Overview LGBTQ_Community_Page_WealthZone

OVERVIEW

We created this guide to highlight the financial priorities for the LGBTQ+ community and provide you with resources and tools to help you support your employees.

The financial journey for LGBTQ+ Americans may include several unique financial events throughout multiple life stages, often causing short-term financial needs to take precedence over longer-term goals. And, importantly, these financial planning considerations apply not only to those who identify as LGBTQ+ but to parents or loved ones who are supporting LGBTQ+ individuals. They include:

  • Cost of living
    LGBTQ+ individuals are more likely to reside in major cities or coastal areas where there is greater access to inclusive services and greater community acceptance.1 Elder LGBTQ+ individuals or couples may pay a premium to find inclusive long-term care.2
  • Health care
    In addition to long-term-care planning, LGBTQ+ individuals may also face significant near-term health care costs, such as gender-affirming care or family planning by way of surrogacy, adoption, or fertility treatments. LGBTQ+ adults are twice as likely as heterosexual adults, and transgender individuals are nearly four times as likely as cisgender individuals, to experience a mental health condition.3
  • Charitable giving
    LGBTQ+ individuals are more likely than non-LGBTQ+ individuals to report financially supporting their community as a priority.4
What this means for employers
Employers are well-positioned to help LGBTQ+ employees ease some of these short-term financial burdens by ensuring an inclusive and well-communicated package of benefits. By considering benefits that address these more immediate financial needs, such as health care and debt management, the LGBTQ+ community is able to focus more energy on saving and preparing for long-term needs.

Employers also have an opportunity to help close the confidence and knowledge gap through resources and education that address the financial priorities of the LGBTQ+ community.

LGBTQ+ Community Toolkit

LGBTQ+ Wealth Zone

Help your employees build a future that’s true and authentic.

Fidelity.com/lgbtq
Find tips, tools, and resources that can help your employees save more, plan better, and create a financial legacy.

1. Kerith J. Conron, Winston Luhur, and Shoshana K. Goldberg, “LGBT Adults in Large US Metropolitan Areas,” Williams Institute at UCLA School of Law, March 2021, https://williamsinstitute.law.ucla.edu/wp-content/uploads/MSA-LGBT-Ranking-Mar-2021.pdf.
2. National Alliance on Mental Illness (NAMI), https://www.nami.org/Your-Journey/Identity-and-Cultural-Dimensions/LGBTQI.
3. Fidelity’s Inclusive Financial Wellness Research online survey.
4. Fidelity Investments, “Inclusive Financial Wellness.” April 2023.

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