Queer Money®: How Gay People Do Money

How do the election results impact your finances? Are you making any changes?

On episode 562 of the Queer Money podcast, hosts David and John discuss five essential post-election moves for LGBTQ+ individuals, following the unexpected political shift with Harris not becoming president. The episode underscores the importance of financial security and preparedness in challenging political climates, addressing concerns about Project 2025 and its potential impacts on LGBTQ+ rights. Emphasizing collective financial strength, the hosts recommend supporting LGBTQ+ organizations, businesses, and building personal financial resilience through savings and debt reduction. This episode serves as a call to action for the community to leverage financial well-being as a form of protest and protection.

Topics covered:

• 02:06 The Impact of Project 2025
• 04:01 Call to Action: Financial Security
• 07:13 Supporting LGBTQ+ Organizations and Businesses
• 13:51 Building Emergency Savings and Debt-Free Living
• 18:50 Breaking the Addiction to Consumerism
• 25:19 Conclusion and Final Thoughts

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Taxes! Love them or hate them, either way, they'll have a big impact on your retirement.

Which state you live in during retirement could seriously affect your Social Security income. These are the 10 states that could ruin your retirement.

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You've heard the adage, "Pay yourself first." So, why is that bad advice?

In Queer Money episode 560, hosts John and David debunk the traditional 'pay yourself first' advice and provide a comprehensive approach to managing finances tailored for the LGBTQ+ community. They explain the importance of prioritizing savings and retirement accounts before spending on discretionary items. The episode introduces a new strategy of allocating funds to your future self, past self, and present self in that order. This approach aims to enhance financial well-being and ensure long-term financial security while still enjoying present-day pleasures.

Topics Covered:

• 00:00 Introduction: Busting the Myth of 'Pay Yourself First'
• 00:12 What Does 'Pay Yourself First' Really Mean?
• 01:33 The Reality of Paying Yourself First
• 03:07 A New Approach: Paying Yourself in Three Ways
• 04:39 Why This New Approach Works
• 06:43 Conclusion and Upcoming Episodes

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Will your retirement rock or suck?

Depending on if you qualify for social security you may already know the answer to most of that question.

On this week's Queer Money Fabulous Gay Retirement bonus episode, we break down how social security will affect your retirement and show how to check to see if you're set to receive it as well as how much you may be getting.

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Changes to 401(k)s are coming in 2025!

In this episode of the Queer Money Podcast, hosts David and John talk with LGBTQ+ financial advisor Jake Skelhorn about significant 401k changes coming in 2025. They highlight five key changes, including updated catch-up contribution limits for those aged 50 and above, mandated Roth catch-up contributions for high income earners in 2026, and automatic 401k enrollments. Jake also explains the Secure Act 2.0’s rules on inherited IRAs and the implications for the LGBTQ+ community. They delve into strategies for investing in retirement accounts and the potential benefits for younger and late-start savers in making the most out of these new rules.

Topics Covered:

• 00:00 Introduction to 401k Changes in 2025
• 00:15 Meet Jake Skelhorn: LGBTQ+ Financial Advisor
• 03:39 Catch-Up Contributions Explained
• 05:26 Investment Strategies for Near-Retirees
• 07:55 Changes for High-Income Earners
• 17:57 Automatic Enrollment in 401ks
• 22:07 Inherited IRA Changes
• 26:57 Conclusion and Final Thoughts

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Will you get Social Security benefits when you retire?

For many of us, Social Security benefits will make up a sizeable portion of our income in retirement. Are you sure you'll get it?

On this Queer Money, we break down the steps you need to take to not only find out if you qualify but to see what the Social Security Administration estimates you will get.

This episode is visually intensive. If you would prefer to watch the steps we are outlining, you can do so here.

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Would you like to have benefited from recieveing generational wealth from within the LGBTQ+ community?

In this episode of the Queer Money podcast, hosts and married Financial Power Couple David and John dive into a crucial conversation about generational wealth within the LGBTQ+ community, noting that for many LGBTQ+ people, traditional family paths to wealth, mentorship, and inheritance simply aren’t there, and that it’s time to break the cycle. David and John outline five impactful ways in which you can foster wealth for future queer generations, even if you’re not a millionaire yourself. They go over everything from establishing scholarships and grants for LGBTQ+ students, creating family or community trusts, offering low-interest loans or microfinancing for LGBTQ+ entrepreneurs, and investing in LGBTQ+ startups or small businesses.

Topics covered:

• 00:00 Introduction: The Challenge of Generational Wealth in the LGBTQ+ Community
• 01:12 The Impact of HIV/AIDS on Wealth Transfer
• 03:11 The Importance of Creating a Wealth Transfer System
• 05:59 1. Building Wealth Through Scholarships and Grants
• 09:15 2. Establishing Family or Community Trusts
• 12:45 3. Offering Low-interest Loans and Microfinancing
• 14:25 4. Investing in LGBTQ+ Startups and Small Businesses
• 17:39 5. Supporting LGBTQ+ Real Estate Co-ops
• 20:19 Understanding Different Financial Support Options
• 21:59 Recap and Final Thoughts
• 22:46 Outro and Upcoming Episodes

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Where can I live that is accepting of me as an LGBTQ+ person?

The political climate in the United States is difficult right now for many folks, but especially for LGBTQ+ folks who feel like we're being attacked right and left by media, politicians and in some cases even family.

So where can we live that is better for us, whether that's a place to go to college, a city that has protections or states that historically have been on our side?

This week on Queer Money, we break down the top 10 states based on several factors.

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We all love stories, but how about stories of career and money mistakes, comebacks and successes?

In this Queer Money Podcast episode, hosts David and John discuss their favorite financial stories from their new show 'Living Not So Fabulously' by Yahoo Finance, offering insights into the financial challenges and successes of various individuals. Highlights include Ruth Jacks' journey from poverty to EVP at Wells Fargo, lessons from Jane Sasseen’s Black Monday investing missteps, Patrick L Riley’s recovery after a devastating fire, a financially strategic coming out story from Eric Berger and Dan Amboyer, as well as a career transition that helped Todd Sears beat financial stagnancy.

This episode emphasizes resilience, the importance of financial planning, and aims to inspire listeners by showcasing that everyone has a unique money story. Tune in weekly on Yahoo platforms for more on financial wellness, LGBTQ+ retirement, and generational wealth.

Topics covered:

• 01:15 Listener Survey and New Show Concept
• 01:34 Challenges in Sharing Personal Money Stories
• 02:05 Yahoo Finance Collaboration and Celebrity Stories
• 02:46 Promoting Financial Literacy Through Celebrity Stories
• 05:09 Introducing Ruth Jacks: From Poverty to Corporate Leader
• 08:42 Jane Sasseen’s Investment Lessons from Black Monday
• 12:40 Patrick L. Riley’s Gut-Wrenching Story
• 16:14 Eric Berger and Dan Amboyer's Financial Journey
• 19:33 Michael Seldtich’s Career Pivot
• 22:06 Todd Sears' Resilience and Success
• 24:45 Conclusion and Upcoming Episodes

Tune in to Living Not So Fabulously by Yahoo Finance

Youtube | Apple Podcasts | Spotify

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What will your living arrangement look like in retirement? What are the options?

On this Queer Money, we dive into the 7 most fabulous gay retirement living arrangements you need to know about. From retiring in place to communal living to LGBTQ+ focused retirement communities, we share the 7 most common ways of finding your special place to call home while in retirement.

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