Social Advances in the LGBT Community Begets Retirement Progress

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Financial stability is impacted by many factors, including how good people are at saving, how bad they are at spending, how much money they make and the type of education they receive on managing money. Add another factor to this list: social progress. Take, for example, the LGBT community.

LGBT people have historically been the segment of the U.S. population most likely to retire in poverty, according to Catherine Collinson, CEO and president of nonprofit Transamerica Institute and its Center for Retirement Studies. But that trend is improving.

For context, homosexuality wasn’t legal in all 50 states until 2003 with

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