Wednesday, May 30, 2012

Gay investors more confident than general population

Lesbian, gay, bisexual, and transgender investors are more confident in their retirement savings than the general population, according to a new Wells Fargo survey, despite some additional challenges.

Sixty-one percent of the LGBT population surveyed said they felt like they would have enough saved for retirement, compared with 53 percent of the general population.

Thirty-six percent of the LGBT community said they would have to work during retirement, compared with 41 percent of the general population.

The results come despite a lack of federal marriage or inheritance rights, Wells said.

The survey was conducted in conjunction with Wells Fargo's Accredited Domestic Partnership Advisor program, to educate financial planners about the special needs that come with domestic partnerships.