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Study: Gay Americans earn more, owe less, and are more prepared for retirement

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  1. This doesn’t surprise me. Especially in America where one doesn’t have money thrown at you by the state for doing nothing.

    Growing up gay tends to make gay people far more independent and self reliant.

    I would guess that there is an element of this independence in the UK too although we have the back up of a benefit system where you don’t have to work. It would be interesting to see the UK figures.

  2. Ironically these are all attributes that should appeal to Republicans, and conservatives of course;-)

  3. JamesBass 7 Dec 2012, 8:43am

    If this study was about the UK, I would suggest that these wealth disparities are the result of it being easier to come out as gay if you’re the offspring of more educated or affluent parents.

    There are a number of young people (mercifully fewer with each generation) that find it easier to live a lie and stay in the closet.

    With the lack of social mobility that is now becoming apparent in the UK, those with educational and financial advantages that sometimes come with being from a more middle class background will find it easier to come out and hence the figures will be skewed.

    From experience of talking to American friends and acquaintances, it certainly sounds like coming out in small-town USA is not just a difficult, but on occasion, a dangerous thing to do, and only those with education and drive will be willing to leave their home town and live without the immediate support of family.

  4. roderious 7 Dec 2012, 9:50am

    I agree with JamesBass, this study is confusing cause and effect. Better educated and more prosperous gay people are likely to live in a more liberal environment and so feel more comfortable outing themselves to a stranger with a clipboard.

    Less well educated and lower income gay people are likely to face worse consequences if they come out so would be less likely themselves to out themselves in this way.

    The results of this survay are therefore skewed. Remember this study was done by an insurance/financial services company not an independent body a,d their primary aim was to promote their interests rather than conduct an objective study.

  5. Who was asked and what were they asked? How many lbgt people would actually identify themselves as such to a survey of this kind?

  6. Maybe more successful people are likely to be out, compared to those less so still closeted.

  7. I’m sorry, this is a really poor article.
    It’s not “research”, it’s PR.
    What do you expect Prudential to say in a press release when they’re trying to sell something; ie their own services?

    There’s an excellent website, Gay Money: The Truth About Lesbian & Gay Economics – http://blog.fawny.org/2010/11/16/gaymoney/ – that analyses over 70 research papers on “the Pink Pound” and shows that the opposite is true to what is claimed here – gay men earn LESS.

    I despair that journalists in the gay media often seem unable to ask the simple question when they are presented with information; is this true?

    1. Mommie Dammit 7 Dec 2012, 3:11pm

      I’m glad I wasn’t the only one who read this and thought, “I call BULLSH*T!” This is so obviously skewed, and I’ll lay any odds you want that the “respondents” were already Prudential customers. Now, consider that Prudential is one of the most expensive financial services companies and you get the reason their “results” show the way they do. If you’re a single, white, well educated male homosexual who is lucky enough to be in a well-paying job or own your own lucrative business these figures might hold water. The facts are, however, we are NOT a homogeneous group – we are of every race, color, creed, and economic background, and we don’t all have a college degree. The sad part of this fluff piece is that this is propaganda – and it will be used by our enemies to stir up more resentment against the LGBT community as a whole.

  8. would like to see breakdown by gender

  9. This flies in the face of all the available research about transgender people who are, on average, better educated but who have often lost careers, homes, savings, etc. on transition. While it’s great that Transgender folks are being more ‘included’, it’s a huge mistake to lump them in with LGB and assume this is one homogeneous group.

  10. Great report. That’s an amazing American skyscraper in the picture aka Beetham Tower, Deansgate in the UK city of Manchester? I should know, I live in it. I know there aren’t many photos of America but surely you could’ve found one?

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