At a Glance | July 28, 2022 Examining the Attitudes of LGBTQ Americans Regarding Their Finances and Retirement In 2022, for the first time, the Retirement Confidence Survey included questions in order to explore LGBTQ priorities for retirement and their experiences with the financial system. DEMOGR APHIC S Identity Household Income Ten percent of Americans Less Than $35k– Over identify as LGBTQ. LGBTQ <$35 $75k $75k Americans are more likely % 10 LGBTQ to report lower incomes. 28% 30% 42% of Americans Only 42 percent had identify incomes of $75,000 or more as LGBTQ Non-LGBTQ 19% 26% 55% compared with 55 percent 10+10 J90+J90 of non-LGBTQ Americans. AT TITUDES Percentage of Respondents Who Agree With the Following Statements by LGBTQ Status and Income LGBTQ Americans are less LGBTQ likely to say they have saved Non-LGBTQ for retirement. Lower- and upper-income LGBTQ Less Than <$35 $35k–$75k Over $75k Americans are more likely 29% 47% 77% to agree retirement savings I Have Saved for Retirement 38% 66% 86% is not a priority relative to the current needs of their family. 43% 37% 39% Retirement Savings Are LGBTQ Americans are more Not a Priority Relative to 35% 35% 25% likely to believe that their My Current Needs household’s financial planning 57% 53% 51% needs are unique and are My Household’s Long-Term less likely to say that they Financial Needs Are Different 45% 42% 43% Than Other Households' have enough savings for an emergency. LGBTQ Americans 28% 43% 70% I Have Enough Savings to are less likely to say they Handle an Emergency Expense 41% 68% 82% are knowledgeable about managing their day-to-day 48% 55% 65% I Am Knowledgeable About finances. Managing Investments for 52% 73% 77% the Future SOURCE: Copeland, Craig, and Lisa Greenwald, “Retirement Confidence Survey and the LGBTQ Community ,” EBRI Issue Brief, no. 560 (June 14, 2022). © 2022 EBRI This report is copyrighted by the Employee Benefit Research Institute (EBRI). You may copy, print, or download this report solely for personal and noncommercial use, provided that all hard copies retain any and all copyright and other applicable notices contained therein, and you may cite or quote small portions of the report provided that you do so verbatim and with proper citation. Any use beyond the scope of the foregoing requires EBRI’s prior express permission. For permissions, please contact EBRI at permissions@ebri.org.