LGBT retirement event
This event is designed to cover the issues around LGBT Retirement. In particular, with the next generation at least of LGBTs moving towards retirement there are some unique issues facing us.
Many LGBTIs will have come of age in a time when at best being LGBT was considered ‘something wrong’ and at worst, potentially illegal. As such the generation of LGBTs coming up to retirement over the next couple of decades will likely have spent years in the closet and not able to imagine an open LGBT retirement let alone with a partner. This has resulted in a lack of planning for retirement especially with the lack of ‘lifecycle’ planning.
Our research has shown that many LGBTs remain in the closet or feel uncomfortable, based on years of conditioning, of being open about their sexuality. Research has also shown that LGBTs (especially those who have lived in the closet) would like to live in a place where they feel they can be more open - this generally means places with a vibrant LGBT community and life. With the lack of focused planning in early years and a desire to live in a more open Community, LGBTs will face unique issues. The event will look at these issues and discuss what the community can do. These issues are:
-Lack of planning for retirement can mean that LGBTs will find it difficult to retire and especially to live the LGBT dream
-Research has shown that the locations desired by the LGBT Community wishing to live in an open LGBT Community are generally more expensive - potentially up to 20% more expensive.
-Many older LGBTs still feel uncomfortable talking about their sexuality and have as such not protected their partner as they are not open.
-Research has shown that even younger LGBTs who are more comfortable open (and still many of us are not) are not thinking about planning for retirement as our life cycle can be different.
The event will also look at what LGBTs can consider:
-How to plan for retirement later in life
-When, where and how would we like to retire
-What kind of tax breaks are available
-How can LGBTs protect their partners
The event details are below:
6.30pm, Tuesday October 10th
The LGBT Foundation , 5 Richmond Street, Manchester
Refreshments will be served.
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