By Lisa Watts
LTSS Center and NCOA researchers found that LGBTQ+ adults 60 and older earn less money and have more trouble paying expenses than their non-LGBTQ+ peers.
Researchers at the Leading Age LTSS Center @UMass Boston partnered with the National Council on Aging (NCOA) to study how well LGBTQ+ older adults are faring compared to their non-LGBTQ+ peers. Their overall finding: Not so well.
The researchers analyzed data from the Federal Reserve’s annual Survey of Household Economics and Decisionmaking (SHED) from 2019 to 2021. They found that LGBTQ+ adults 60 and older earn less money and have more trouble paying their rent, mortgage, and other expenses than their non-LGBTQ+ peers. Among the cohort of LGBTQ+ older adults:
- 22% rent their homes, compared to 12% of the non-LGBTQ+ group.
- 36% own a home with a mortgage, compared to 39% of the non-LGBTQ+ group.
- 40% own their homes free and clear, compared to 46% of the non-LGBTQ+ group.
- 15% make less than $25,000 a year, compared to 12% of their peers.
“How older LGBTQ+ adults fare during their later work years and in retirement is an issue of growing importance because the overall LGBTQ+ population has reached an estimated 20 million, or nearly 8% of all American adults,” says Susan Silberman, NCOA’s senior director of research and evaluation, who partnered with the LTSS Center on the study. “Many younger people who identify as LGBTQ+ experience discrimination, whether on the job or in their access to health care, which can have repercussions later in life.”
Added Marc Cohen, LTSS Center co-director and one of the study’s authors:
“It’s important to learn more about LGBTQ+ older adults so we can help them age with the respect and dignity they deserve, especially during a time where many have faced discrimination, harassment, and violence.”
Additional authors include Jane Tavares, senior researcher in the LTSS Center’s Boston office, and Molly Wylie, research associate in the LTSS Center’s Washington office.