Sitting in his home on a lazy Saturday morning, listening to an economics program, UBS Wealth Management Chief Economist Paul Donovan found himself absolutely appalled at the coverage he was hearing on the economics of marriage equality. "I was choking on my cup of tea. It was that bad a set of arguments," he told husbands and hosts David & John Auten-Schneider on Living Not So Fabulously. "It was all about, 'we'll make more money doing gay marriages—think of the lavish ceremonies that'll be held.' And I was like, no, that's not it. It's all about equality and rights and people feeling valued."

It's a shame that justifying equality to the world's power-holders and policy brokers has to be rooted in why prejudice is good or bad for economies rather than achieving equality for one's fellow human beings serving as enough of a reason in itself. However, Donovan's research and work focus on translating the data and economics of equality to cultivate chance and make a difference for the LGBTQ+ community.

"As somebody who is gay and is in a position of some responsibility in a large organization, I have a role as a role model," he explained of his efforts. "I think there's a duty for those of us who have some kind of platform to try and make sure that we can educate and improve the understanding overall."

Throughout the episode, the conversation also addressed why LGBTQ+ investors are different. Donovan shared some helpful guidance for the community on the nuances they should consider as they build their wealth.

Hosts and husbands of Living Not So Fabulously, David & John Auten-Schneider, dive into real money stories with activists, allies, artists, tech-gurus, and trailblazers in the LGBTQ+ community to give you tangible takeaways to tackle your wallet woes.

Find this episode's transcripts and more episodes of Living Not So Fabulously at http://finance.yahoo.com/videos/series/living-fabulously/.

Have a money story of your own? Questions? Fan mail? Email us at [email protected].

00:00-Paul Donovan joins Living Not So Fabulously

01:55-Why finances are unique for theLGBTQ+ community

05:00-LGBTQ+ exclusion can hurt economies

07:30-For leaders: why prejudice is bad for business

09:18-For investors and financial advisors: consider global discrimination's impact on investments

13:23 responsibility for those in power to make a difference

16:00-Trumponomics around the world

18:30-3 things LGBTQ+ investors can prepare for Trump 2.0

20:30-global upheaval around the world for LGBTQ+ people

Yahoo Finance's Living Not So Fabulously is hosted by David & John Auten-Schneider, and created and produced by Rachael Lewis-Krisky.

Paul Donovan is the Chief Economist of UBS Wealth Management, and self-describes his focus as 'economics without jargon, but with sarcasm.'

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