According to The Motley Foo / Debt Free Guys LGBTQ+ Money Study, when LGBTQ+ people have access to company-sponsored retirement plans they’re most likely to contribute between 4% to 6%.

Is that enough?

According to YahooFinance, most Americans contribute an avg of 11.2%, but Vanguard recommends 12-15% and Fidelity recommends 15%. So, LGBTQ+ people are about halfway there.

This is ultimately different for everyone, based on current lifestyle and income and expected lifestyle, investments and income. But don’t be fooled - many studies show this is as much a spending problem as an income problem.

Yes, ask for a raise, look for a better job with better benefits and salary, start a business - all that!

But we also recommend getting crystal clear on your spending, where every dollar comes from and every dollar is going. Do a spending analysis experience

We make the Queer Money® podcast for you, so please post your money questions in the QM FB group, and we may answer your question in an upcoming episode.

What should you do now?

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We’re David and John Auten-Schneider, the Debt Free Guys ([ Ссылка ]) and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.

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