Financial Advisor Support for LGBTQ Community in the Triangle

//Financial Advisor Support for LGBTQ Community in the Triangle

Financial Advisor Support for LGBTQ Community in the Triangle

2018-08-02T17:19:41+00:00July 25th, 2018|

On Saturday, June 24th, LifeTime Asset Management sponsored the first Triangle Expo for LGBTQ Aging Adults. The event was organized by the LGBT Center of Raleigh and was a huge success—with over 40 exhibitors and hundreds of attendees.

LifeTime Asset Management Wealth Consultant Lorraine Johnson presented a workshop, “Ask a Financial Advisor”.

As a group, LGBT older adults experience unique economic and health disparities, according to the American Psychological Association. LGBT older adults may disproportionately be affected by poverty and physical and mental health conditions due to a lifetime of unique stressors associated with being a minority and may be more vulnerable to neglect and mistreatment in aging care facilities. Additionally, approximately 80% of long term care in this country is provided by relatives; LGBT adults are 4 times less likely to have children and are twice as likely to live alone, which can prove problematic when budgeting for LTC expenses. This expo is meant to spread awareness about these issues and provide support for LGBTQ Aging Adults in the Triangle.

The expo also celebrated that NC Governor Cooper has proclaimed September “North Carolina Pride Month”. Through the event, we connected to community members in Raleigh, Cary, Apex, and other areas of the Triangle.