Queer Money®: How Gay People Do Money

in the wrong state can cause our community just as much trouble. Credit unions are financial cooperatives that serve the needs of a particular community, and Phillip is leveraging his 20-plus years in community development and organizational management to establish Equality Credit Union for the queer community. Currently, as president and founder of Equality Washington, Phillip has enlisted the help of industry leader Cisco Smith, president and CEO of Florist Federal Credit Union, to design and build Equality Credit Union help the LGBTQ community help itself. Together, Phillip and Cisco are raising the necessary resources to get Equality Credit Union on its feet. Today Phillip shares his inspiration for initiating the project, the products and services and LGBTQ credit union would provide, and how an institution like Equality Credit Union will reinvest in the community. Cisco shares why an aggressive fundraising campaign is necessary to start Equality Credit Union. Listen to understand the power of Equality Credit Union and how you can help the cause! Find the resources and more at https://debtfreeguys.com/equality-credit-union-needs-help/

The need for long-term care insurance for LGBT people An alarming 36% of LGBT people say they’d rather spend for today than prepare for tomorrow. But what happens at the end of your life and you need medical or nursing-assistance, either in-home or in a nursing facility? The answer may be long-term care insurance for LGBT people. Ryan Taylor educates us on long-term care insurance for LGBT people According to AARP, the lifetime probability of becoming disabled and needing long-term care is a whopping 68% of people over the age of 65. The average cost of long-term care is currently about $6,000 per month. That’s a lot! Long-term care insurance for LGBT people provides the peace of mind that you’ll get the care you need to go out with the dignity you want. Ryan Taylor is the founder of LGBT Financial, the premier resource for LGBT financial services. After earning degrees in International Business, Finance, and Economics from Utah State University, Ryan lived and worked abroad for several years before settling in Salt Lake City. He’s been a financial advisor with MassMutual Intermountain West since July of 2015. Ryan founded LGBT Financial in February of 2016 to help individuals and families from all walks of life in a comfortable and safe environment navigate and plan for their most important financial decisions. Ryan is also the founder and host of Salt Lake City’s LGBT Show, and a member of the Utah Gay and Lesbian Chamber of Commerce. Today he explains the fundamentals of long-term care insurance for LGBT people, from the specifics of what a policy covers to the waiting period before coverage kicks in to the reimbursement process. Ryan addresses the best time to secure long-term care insurance for LGBT people and others, the percentage of people who qualify and a hybrid product that couples long-term care insurance with life insurance. Listen to today’s Queer Money™ to understand the benefits of having a financial advisor assist you in planning for the future, which likely includes long-term care for LGBT people if you’re LGBT - then it’s just long-term care insurance. Topics Covered about long-term care insurance for LGBT people The ABCs of LGBT Financial Based in Salt Lake City, Utah (diverse, liberal oasis) Designed as comfortable, safe space for financial planning Founded February 2016 Why Ryan created LGBT Financial ‘Natural fit’ Help from financial planner who can empathize Plan with partner/family in comfortable space The buying power of the LGBT community $971B in US alone So-called ‘pink money’ can be double-edged sword The fundamentals of long-term care insurance for LGBT people and others Typically need at end of life Covers in-home care or care in nursing facility Cost outpaces inflation LGBT couples raising children on decline Long-term care second only to taxes as wealth erosion factor in retirement Ryan’s advice around when to purchase long-term care insurance for LGBT people and others Wait too late, may be uninsurable Ideally between ages 45-55 Sooner the better (less cost, more likely to be insurable) The specifics of what long-term care insurance for LGBT people covers Activities of daily living Feed/transfer self, walk, use bathroom Dementia, Alzheimer’s In-home care, nursing home, or extended hospital stay (up to certain $ amount) The current costs of long-term care for LGBT people and others $6,000/month average cost Average claim between three and four years Some go on multiple claims in lifetime The waiting period before long-term care for LGBT people and others kicks in Depends on company, how policy structured Pay more for shorter wait period Longest is six months Most choose 60-90 days Some companies reimburse for waiting period How Medicaid fits into the picture of long-term care Use long-term care coverage first, then Medicaid spend down for eligibility Those without long-term care pay out-of-pocket until eligible for Medicaid An example of long-term care insurance premiums

Retraining your brain “We can’t solve problems by using the same kind of thinking we used to create them,” said Albert Einstein. If you’re unhappy with your current condition, retraining your brain is the first step to change. Unlocking your full potential by retraining your brain That little voice in your head — the one saying you can’t, you shouldn’t, they wouldn’t — isn’t doing you any favors. In fact, the limiting beliefs fostered by that annoying little voice are holding you back from unlocking your full potential and getting the life you want. How, then, will retraining your brain change your mindset and your current condition? JR Badian works for NeuroGym, using emerging technologies to help people with creating opportunities for themselves in the areas of finance, health, wealth and personal development. NeuroGym applies scientifically-proven techniques for retraining your brain by expanding your mental and emotional powers to maximize your performance and potential. What JR knows about retraining your brain for success JR has enjoyed a successful career in finance and marketing; prior to joining the team at NeuroGym, he spent five years as VP of Digital Marketing at MasterCard. JR has been named one of Brand Innovators 40 Under 40 (2013) and OUTstanding’s Top 100 LGBT Executives (2016). JR shares his advice on Queer Money about making an impact in your community and how acceptance drives innovation and growth. Listen and learn more about how NeuroGym can help with retraining your brain and overcoming limiting beliefs! Topics covered about retraining your brain JR’s advice around making an impact in your community Focus on others Build ‘persistencies’ Go out of way to help others Simplest things are most profound Start every exchange with something positive (e.g.: smile) How acceptance drives innovation and growth Acceptance leads to diversity Diversity multiplies ideas (innovation) Companies that innovate will grow Starts with acceptance of self Can’t do best work if not yourself Learn from success and failure John Assaraf’s NeuroGym John is well-known success coach, appeared in The Secret Spent years studying retraining your brain, creating a new movement Systematic approach to overcome failures, get more out of life Unlock potential through ‘Innercises’ Change mindset through brain retraining Overcome limiting beliefs The origin of limiting beliefs History, books, school Friends, family Develop thought pattern Beliefs drive behavior, how see world Happens on unconscious level How to overcome limiting beliefs by retraining your brain Implicit beliefs (I can’t…, I don’t deserve…) are programmed May declare otherwise (explicit beliefs) Misalignment of implicit, explicit = chaos The NeuroGym approach to behavior change Evidence-based methods Reprogram subconscious mind ‘Innercises’ that retrain brain Give confidence, edge Don’t get upset, derailed by little things The upcoming BRAIN-A-THON on October 7 for retraining your brain Free, live online event Features best brain experts Overcoming fear of failure Tapping into the subconscious mind Retraining your brain for success The value of surrounding yourself with people that push you Ignites mental growth Raises your game, aspirations Connect with JR NeuroGym Brain-A-Thon Resources 2016 OUTstanding and FT Rankings The Secret John Assaraf John Assaraf on Sean Croxton’s Podcast

You can have a healthy relationship with money Your relationship with money will affect your relationship with your partner. We talk with one of our favorite guests about how to strengthen your relationship with money and your partner. Your relationship with money coach Megan Lathrop, Capital One Café’s Money Coach, returns for another episode of Queer Money™. Megan is back to talk about money and relationships and how couples can have a better relationship with money with a few simple tools that she shares today. Megan will be on a two-city tour to promote Capital One Café’s free Talk Money with Your Honey Workshops. On Wednesday, October 4, 2017, we join Megan at Denver’s Capital One Café for a Newlywed-style game called Money Matched, where we and a few other metro Denver area couples will show how much or how little we know our partner and their thoughts about money. Megan will then be at the Philadelphia Capital One Café on Wednesday, October 18, 2017, for a similar event. Don’t miss these events if you’re in either the Denver or Philadelphia areas. They are both bound to be fun and informative. More help to improve your relationship with money Megan will be on a two-city tour to promote Capital One Café’s free Talk Money with Your Honey Workshops. On Wednesday, October 4, 2017, we join Megan at Denver’s Capital One Café for a Newlywed-style game called Money Matched, where we and a few other metro Denver area couples will show how much or how little we know our partner and their thoughts about money. Megan will then be at the Philadelphia Capital One Café on Wednesday, October 18, 2017, for a similar event. Don’t miss these events if you’re in either the Denver or Philadelphia areas. They are both bound to be fun and informative. Topics covered to fix your relationship with money The emotions about money and relationships The financial benefits of good communication skills The triggers that money can cause Talking about financial values with your partner Undercovering the hidden truth behind your spending Aligning your financial values with your partner for financial success Expectations exercise for newer couples to talk about money Creating money rituals Having a money date with your partner The causes and fixes of our unspoken financial expectations Aligning yours and your partner’s personal and financial definitions of success with your values Capital One’s National Survey 75% of Americans who are currently in or have ever been in a serious relationship said that setting financial goals with a partner is harder than setting financial goals as an individual 63% prefer to manage their finances with a partner rather than as an individual

What’s the fastest way for most of us to get rich? By investing as much as we can as early as we can into a 401k. As a reader asks, though, what’s the best 401k for young adults? A Traditional 401k or a Roth 401k? Meet our young adult, Carter After listening to Queer Money™  episode 61, “5 Steps to Prepare for Financial Emergencies in Your Sleep,” Carter from Ohio emailed us a question. Carter wants to know, as a young gay man, which type of 401k offered to him by his employer is best? Should he invest in a Traditional 401K or a Roth 401K? There’s no blanket answer to this question. So, after we received Carter’s question, we asked him a few questions ourselves. Carter’s 27 years old and graduated college a few years ago. His current income is $43,000 a year and he has student loan debt financed at 3.5%. Carter has an emergency savings account set up per our instructions in Queer Money™  episode 61. He’s currently saving $40 a month in that emergency savings account and will have $500 in emergency savings by next July. What’s the difference between a Traditional vs. a Roth 401k? A Roth 401K is an employer-sponsored retirement account in which you contribute after-tax dollars and the money you invest in that account grows tax-free. Withdrawals from this account are, also, tax-free. A Traditional 401k is an employer-sponsored retirement account in which you contribute pre-tax dollars that grow tax sheltered. Withdrawals from a Traditional 401k are, unlike with a Roth 401k, taxed as ordinary income upon withdrawal. The annual contribution limit for both Traditional and Roth 401ks is the lower of 100% of your income or $18,000 for 2018. Additional contributions of up to $6,000 can be made into either type of account if you’re currently over 50 years old. Calculate your retirement income with this simple calculator Moneychimp Calculator What’s the best 401k for young adults like Carter? As with most things in life, it depends. Ultimately Cater and all of us who invest in a 401k (or a 403b for government employees) is, do I want to pay my taxes now or when I’m retired? You ultimately want to pay the least amount of taxes possible. Will that be when you’re younger or when you’re older? Will taxes be the same, higher or lower than they are today? No one can answer these questions with total certainty. Therefore, some professionals recommend hedging your bets and investing in both a Traditional and a Roth 401k. Investing a portion in both reduces your risk of incorrectly guessing which way taxes will go by the time you retire and still let you benefit today from the benefits of investing into a 401k. To hear our best recommendation for the best 401k for a young adult such as Carter, listen to this episode of Queer Money™ . Best 401k for young adults resources: Queer Money™ episode 61, “5 Steps to Prepare for Financial Emergencies in Your Sleep” IRS Comparison Chart Queer Money™ on iTunes Queer Money™  Lifestyle Newsletter

September is Suicide Prevention Awareness month. Lesbian, trans, bi and gay suicide and suicide attempts happen disproportionally more than the general population, and people who die by suicide are eight times more likely to have debt. Lesbian, Trans, Bi and Gay Suicide and Queer Money We partner with our friend, Melanie Lockert of Dear Debt, who’s bringing more attention to Suicide Prevention Awareness Month and highlighting the effects that debt has on those who become or are severely depressed. As suicide disproportionally affects the LGBT community and queer people have more financial struggles than the general population, we think it’s important to cover these important topics this month. Queer suicide September is Suicide Prevention Awareness Month. People who die by suicide are eight times more likely to be in debt. LGBTQ people disproportionately attempt suicide relative to the general population. The fifth leading cause of death of all men, queer or straight, is suicide. The problem is so severe that the rate of suicide among men is currently three and a half times that of women. Middle-aged, white men account for seven out of 10 suicides. Suicide rates for men over the age of 75 are nine to 12 times higher than women.  Suicide and suicide attempts are higher in the queer community than the general population. Queer teens and young adults have the highest rate of suicide attempts. Many lesbian, trans, bi and gay suicides happen because the victims feel they have nowhere else to turn or that they have no other options, whether they struggle with their sexual orientation, their finances or both. The more we become aware of the signs and risks of suicides the better we can help prevent them. Substance abuse and the queer community The Advocate announced in 2015 that “gay men have a drinking problem” because the CDC reported that “[queer] people are more likely to use alcohol and drugs, have higher rates of substance abuse, and are more liable to continue drinking into later life.” The CDC further said the reasons for increased stress and depression among queer people are the same reasons they turn to drugs and alcohol. Another reason is that to self-medicate, many queer people find refuge with drugs and alcohol. That refuge is only temporary at best and most drugs, including alcohol, are depressants. Therefore, the self-medication only exacerbates their depression, and the cost of drugs and alcohol add to their financial troubles. Resources to prevent lesbian, trans, bi and gay suicide: Suicide Prevention Awareness Month Blog Tour Debt Drop #EndTheStigma on Twitter #DebtDrop on Twitter The Crisis Text Line, Text 741741 National Suicide Prevention Lifeline Project Semicolon Well Kept Wallet His & Her Money The Center for Disease Control: 800-232-4636 U.S. Department of Health and Human Services: 877-696-6775 Services & Advocacy for GLBT Elders: 888-234-SAGE National LGBTQ Task Force: 800.528.6257 While we’re talking about being healthier and living better lives this month, we can’t forget about those who feel their lives have no worth. We can’t forget about those who struggle to get out of bed in the morning, let alone make it to the gym. We can’t forget about those who have been conditioned to feel inadequate, disappointed or worthless.  If you or someone you know suffers from depression, substance abuse or thoughts of suicide, talk about it and know that others care.

The Deets of MassMutual’s LGBTQ Financial Security Study Between February 28 and March 14, 2017, MassMutual along with Greenwald & Associates, conducted an online survey of middle-income Americans over-weighted with LGBTQ people to “raise awareness of the threats and obstacles to middle-class workers’ [especially LGBTQ workers’] financial security.” LGBTQ people don’t feel secure and it may be our fault Nearly half of those in the survey described themselves as not too or not at all financially secure. This data doesn’t align with the perception that we’re all fabulous. Rather than being fabulous, we may just be fabulously broke. Based on MassMutual’s LGBTQ Financial Security Study, 80% of us say high debt levels or not having enough money make it hard to manage household money. What are we doing about it? We’re not helping ourselves, apparently. More than half of respondents said that spending for today is more important than saving for tomorrow. The lack of saving for tomorrow is reflected in the response that 70% of us, relative to 63% of the general population, attest to being behind in our retirement savings. There could be many reasons for this. The first possible reason is that many of us may still be using our spending to make up for feelings of inadequacy from when we were younger. Another possibility may be a lingering carpe diem philosophy adopted by many in our community during the height of the HIV/AIDS crisis. Another possible reason could be that a larger percentage of the LGBTQ community believes someone or something else will take care of them later in life. We’re more concerned about money than marriage Ironically, even though marriage equality and its effects have received much of the media and public’s attention over the last two years, only 28% of the queer people surveyed are concerned about marriage and love. However, 60% of us are worried about our household finances that, as we said above, are hard to manage because of high debt levels and no having enough money. While many of us may be more concerned about living for today than preparing for tomorrow, this is having an adverse-effect on our health and well-being. Sixty-five percent of respondents said that financial concerns affect their health and stress-levels. Financial stress may be, in part, why the Center for Disease Control says that gay men, bisexual men, and LGBTQ youth have a greater propensity to suffer from major depression, bipolar disorder and anxiety disorder than our straight counterparts. Likewise, as The Advocate announced in 2015, “gay men have a drinking problem” because the CDC reported that “[queer] people are more likely to use alcohol and drugs, have higher rates of substance abuse, and are more liable to continue drinking into later life.” There is help Surprisingly to us because we work with several financial services firms, 59% of MassMutual’s LGBTQ Financial Security Study respondents don’t feel financial services companies want to help “people like them.” Many firms, including MassMutual's LGBTQ Financial Security Study and its previously reported Lasting Legacy Survey, are trying to connect and help our community. Unfortunately, the messages aren’t being heard or understood. Because of the unheard or unclear outreach from financial services companies, 53% of the LGBTQ people who participated in this survey are unsure where to go for financial help and guidance.

It’s hard for any artist, including gay artists, to stand out in saturated cities such as L.A. and New York. That’s why these gay artists moved to Denver, an alternative city, to stand out from the crowd and avoid high production costs. Gay Artists in Denver “It really comes back to the story… You get to tell people’s stories—that don’t usually get to be told.” Listen to Gay Artists Thriving in Denver Gay Artists Summary Rachel Herring Finley is the lead actor in Carlos Daniel Flores’ short film I Stand Still, an abstract piece built around an original poem that explores the love between two women. Part of Denver’s own CinemaQ Film Festival this past July that highlighted local and national gay artists, the short pays tribute to the victims of the Pulse Nightclub shooting, reminding us to “allow ourselves some joy and respect our truth, whatever that may be.” Born in Puerto Rico, Carlos was exposed to music and the arts from a young age. Film direction satisfies his “desperate need to express” himself, and allows for experimentation via the medium itself. He recently moved to Denver from Florida, and is inspired by the energy and creativity of the city. Rachel has a degree in opera and musical theatre training from the American Musical and Dramatic Academy in New York City, but she returned to her home state of Colorado to perform in local professional theatre. Carlos and Rachel met through the Denver theatre community, and today they share the process of collaborating on I Stand Still, discussing the organic nature of the project, what it was like to film in Denver, and the connections between the Pulse shooting and the film. Listen in on their advice for aspiring actors and directors, and learn the value of supporting the arts and gay artists in our community! Topics Covered on Gay Artists Rachel’s long journey to performing in film • Degree in opera • Trained at AMDA in New York for musical theatre • Returned to Denver • Involved in theatre, met film community • Fell in love with film How Carlos came to be a director • Born in Puerto Rico • Father is musician • Love of all arts • Realized possibilities of film as medium Rachel’s affinity for acting • Singing cultivated love of performance • Love of story What drew Carlos to directing • Desperate need to express self • Loves all aspects of filmmaking • Need to actively create something The background of the short film, I Stand Still • Part of series • Film built around poem • Ambiguous, abstract form • Subject ties into Carlos’ process of accepting himself as bisexual The amazing experience of filming in Denver • Carlos recently moved to Denver • Loves city, beauty of the mountains • Not oversaturated with industry people • Struggle to find other creatives • Feels like no rules yet • Project was very small, didn’t need permits to film in public spaces The art scene, gay, straight and otherwise in Denver • Carlos appreciates energy and creativity • Acceptance of all forms has come alive in last decade • Investment in murals, street art How the Pulse Nightclub shooting affected Carlos’ creative process • Doing sound design, composing music for I Stand Still • Shooting made it difficult to continue • Ultimately finished film as tribute, dedicated to victims The connections between the Pulse shooting and the film I Stand Still • Personal connection for Carlos: Clock tower at end as body count • Broader analytical connection: Accept your truth, whatever it may be Carlos’ advice for aspiring directors • Just start creating • Don’t worry about what others are doing Rachel’s guidance for would-be actors • Give yourself the opportunity to make mistakes • Learn from small parts, projects • Network with other artists, learn from their experience The top three locations for film production • Santa Fe/Albuquerque • Atlanta • Vancouver

Navigating the online space to market your business can feel a little like the Wild West. There aren’t any hard and fast rules, and everyone is still trying to figure out what works best. If your business caters to the LGBT community, you may have encountered the added challenge of trying to find your audience. Where exactly is the gay community hanging out online? Matt Skallerud is the President of Pink Banana Media, a company that helps businesses target the LGBT community online and grow with social media. Matt began his career in online marketing in 1995 with GayWired.com, one of the top LGBT websites worldwide. Today he is focused on the most cutting-edge innovations in programmatic ad buying, social networking, and Web 2.0 technologies. Matt is passionate about helping businesses large and small reach the LGBT consumer. Today Matt shares his 20-plus years of experience in the LGBT online marketing space, discussing the evolution of the online ad space, Pink Banana’s decision to niche down to the LGBT community, and why Twitter is the best social platform for learning social marketing. Learn to engage with others online (rather than just speaking to them) and find the right social platform for your industry, and let’s grow the network of successful LGBT entrepreneurs and influencers! Topics Covered The evolution of online marketing • Banner ads and email marketing • Social media (Facebook paving the way) • Third wave coming along with Twitter The differences between Facebook and Twitter • Facebook is Main Street, USA o 5,000 maximum reach o Business page only seen if willing to pay • Twitter is the big city o Noisy, loud o Infinitely scalable o Connect, engage with 1 million Why speaking with people is more effective than speaking to people on social • Speaking to drives traffic via headlines, news clips • Speaking with involves sharing, retweeting • LGBT businesses, associations in UK have high level of engagement Why Pink Banana focuses on serving the LGBT community • Can’t be all things to all people • Wanted to be best at one thing The struggle to find the gay community online • On all platforms • Instagram works for visual businesses (i.e.: destinations, wedding company) • Advertising, marketing and finance better suited to LinkedIn, Twitter, Facebook groups The companies Pink Banana works with • Wide range • Recent partnership with Bud Light (Pride Video Message) • Worked with Comcast during San Francisco Pride • Collaboration with Laguna Beach as destination and OC Pride • Companies trying to leverage influencers, social media networks The types of influencers Pink Banana works with through the ILoveGay network • Didn’t go out looking for influencers • Find content, develop organic relationship • Partner to grow business How the travel industry has been ahead of the curve in reaching the LGBT community The best niche opportunities for aspiring bloggers • Still room in travel (speak to different audience in different way) • Night life, foodie space • Anything with strong personal interest What makes an influencer successful • Speak the language of Instagram, Twitter • Use appropriate hashtags, @ to connect profiles, tagging photos • Active in including who they’re talking about • Passion, interest Why Twitter is the best social platform to train on • Forces into 114 characters • Can still tell story with ‘snapshot’ Cutting edge globally innovative programmatic ad buying • Technology identifies you as an aggregate of data • Allows agencies to target specific group, i.e.: people who shopped for insurance in last 30 days he best time for businesses to partner with Pink Banana • Get active on social • Bump into Pink Banana online • Packages available for under $500

You can dance if you want to. And wear a tutu, too! Robert Carter is a dancer with Les Ballets Trockadero de Monte Carlo, an all-male drag ballet company that pays tribute to – and pokes fun at – the classical Russian stars of dance. The male dancers portray ballerinas (with great names like Ida Nevaseyneva), using their incredible athleticism to dance on pointe and exaggerate traditional choreography for comic effect. Robert was one of four dancers in the company featured in the documentary Rebels on Pointe, a Bobbi Jo Hart film revealing the history of Les Ballets Trockadero de Monte Carlo. Robert Carter’s story runs parallel to that of the fictional Billy Elliot. He grew up in Charleston, South Carolina, in a working-class family. His mother made sure that he and his sisters were exposed to the arts, and Robert was involved in community theatre at a very early age. The man who would become his dance teacher noticed him singing a solo at the Spoleto Festival and approached Robert’s mother to offer the opportunity for ballet lessons. Robert attended his first class when he was seven, and he has been dancing ever since. After high school, Robert received a scholarship to take a summer course in New York with the Joffrey Ballet School. His impressive resume also includes roles with the Bay Ballet Theatre, the Florence Civic Ballet, and the Dance Theatre of Harlem Ensemble. Robert joined Les Ballets Trockadero de Monte Carlo in 1995, and in his 23 years with the company, he has performed at some of the grandest venues in the world, including the Bolshoi Theatre and the Opéra de Monte-Carlo. Today he shares his journey from Charleston to New York and beyond, explaining the challenges of being gay in the South, the message of Les Ballets Trockadero de Monte Carlo, and his experience being featured in the documentary film about the company. Topics Covered • The origin of Les Ballets Trockadero de Monte Carlo • How Robert got into ballet as a boy in South Carolina • How Robert’s father reacted to his desire to dance • Offended by prospect • How Robert coped with being a gay man in the South • Robert’s journey to NYC • The bias that pointe work is only for women • The message of Les Ballets Trockadero de Monte Carlo • The Trockadero documentary, Rebels on Pointe • The physical demands of dancing with the Trocks • The benefits of pointe work for male dancers • Where the Trocks get their pointe shoes • Robert’s favorite ballerinas • The importance of acting ability in ballet • How to encourage more boys to do ballet • Why it’s acceptable to start ballet as an adult • Robert’s plans for the future