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Evolving policies about LGBT benefits create opportunities for brokers and advisors as they seek to help HR engage this increasingly important demographic.

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LGBTQ retirees, pre-retirees take bigger retirement risks

But they plan to work longer than the general population, with 62 percent saying they will retire in 11-15 years.

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two women in wedding dresses When it comes to investing money for retirement, 65 percent of LGBTQ respondents say they’re in growth- rather than preservation-oriented assets . (Photo: Shutterstock)

They see the need for caution. But compared to other retirees and pre-retirees, lesbian, gay, bisexual, transgender, or queer Americans actually take bigger investing risks.

So says a study from Massachusetts Mutual Life Insurance Co., which finds that while LGBTQ respondents are more likely to say they should become more conservative with their money as they approach retirement (42 percent) than to maintain a more aggressive investment strategy (28 percent), what they actually do is not consistent with that.

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Marlene Satter

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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