Pride and Your Money 2025
To all LGBTQ+ people and allies, Happy Pride! What does Pride have to do with money? Quite a lot. Here’s my take: Think of the synonyms for pride: Self-esteem. Dignity. Happiness. Honor. Joy. Self-respect. Each of those are earned, and for some LGBTQ+ people, we've had to work very hard to claim those things for ourselves. That deserves celebration.
There’s a strong link between how we feel about ourselves, the impact of our learned histories, and money. Money was one of the first things we learned about, even before we could talk. It impacts everyone, regardless of where and how we were raised, we were all learning about money and how to live. Here’s where things are different for many LGBTQ+ people: we didn’t follow traditional paths that we might have seen while growing up. Many of us moved to urban areas, or closer to community. Some used money to mask some past pain, believing living well is the best revenge. Many of us got caught up in “keeping up with the gay Joneses” and feel the pressure of keeping up with the culture, the fashions, the events. Some of us were pushed to overachieve, while others lost all support from their families.
One thing I’ve seen from most of my LGBTQ+ clients is that we’ve made very deliberate choices about building our lives and our chosen families. We continue to do that throughout our lives.
Repeatedly, I’ve been asked how financial planning is different for LGBTQ+ people. Money is the same, after all. But what we do with the money, and the reasons why are not the same. Our experiences, personal and shared, are different than for straight people. Many of us were never able to get married for most of our adult lives. We are more likely to be single. Most of us do not have children and wonder what life will be like and who will care for us when we’re older. Those who led extra-fabulous youths may find they need to catch up with respect to saving.
Then there is our current environment. In the first half of 2025, more than 1,000 anti-LGBTQ+ bills were filed in legislatures across the country, with a large number targeting trans people. Even when those bills fail, there is a mental burden (and yes, that’s the point – to make sure we know they don’t like us and that they want us to feel unwelcome and uncomfortable).
What can we do? Take control. A good financial plan can establish a path for how we will achieve our life goals and to live as we choose. There’s power in understanding the factors from our pasts that impact our financial decisions today. Setting an investment plan, and knowing what to expect as life changes, also can help us feel in control. Our dignity, self-confidence, happiness, all depend on our ability to set our own direction for our lives. To start a conversation, call me at 704-459-4646 or use the ‘Schedule a Consultation’ button at the top of my website.
Pride is a celebration. We fought for the honor and the joy of loving someone else, and the basic civil rights that go along with legal protections. We fought for our dignity, for our self-esteem, for our self-respect, and in the face of it all, we won, and that deserves celebration.
Happy Pride, everyone!
