LGBTQ millennials have bigger financial struggles than anyone else investinyou (In partnership with acorns.)
Key Points
LGBTQ members of the millennial generation struggle with higher-than-average levels of student debt, low income and lack of emergency savings. These personal financial struggles are common among younger Americans today, but LGBTQ individuals face a particularly hard struggle for economic equality.The LGBTQ millennial community face social challenges many of their generational counterparts do not, and there's growing evidence that is taking a toll on their finances.
LGBTQ millennials have more student debt, lower average income than peers and, overall, feel less financially secure, according to recent surveys. Seventy-one percent of LGBTQ individuals with a bachelor's degree have student loan debt, and almost one-fifth owe more than $100,000, according to a TD Bank survey. Only 50% of respondents rated theirIn some respects the financial struggles of this community match a larger economic inequality problem in the U.S., but the problem is even greater among LGBTQ individuals. Sixty percent of LGBTQ workers have less than three months in emergency savings, according to the TD Bank study.
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