LGBT Baby Boomers have withstood many years of discrimination and say their approach to retirement and aging has been shaped by these experiences. “Still Out Still Aging : The MetLife Study of Lesbian, Gay, Bisexual and Transgender Baby Boomers,” conducted with the American Society on Aging (ASA) and its constituent group, the LGBT Aging Issues Network (LAIN), shows LGBT Boomers will approach retirement differently than the general population and most will delay retirement until they are 70. Largely single and living alone, they will rely more on close friends than family for support as they age. The MetLife Study reports the following:
· 60% of LGBT Boomers fear being unable to care for themselves as they age; 35% fear becoming dependent on others; and 10% fear discrimination as they age.
· Of the LGBT sample surveyed, Lesbians (76%), Gay men (74%), Bisexuals (16%) and Transgender individuals (39%) say they are “completely” or “mostly” out. 61% of Lesbians and 57% of Gay men say their families are “completely” or “very” accepting, while that is true for 24% of Bisexuals and 42% of Transgender individuals.
· Members of the LGBT group are more likely to say they will be at least 70 before they can retire, 48% compared with 40% in the general population, mostly for economic reasons. Only a quarter or fewer in the LGBT group say they have saved what they need to live in retirement.
· While LGBT Boomers continue to fear discrimination, 55% of the LGBT sample say they have total or near total confidence that they will be treated with dignity and respect, compared with 39% of the comparison group.
· A higher percentage of LGBT Boomers have completed living wills, health care proxies, rights of visitation and partnership agreements, in comparison to the general population.
· Though both populations are likely to discuss end-of-life issues with their partners/spouses, LGBT Boomers have many more of those discussions with siblings, parents and other relatives.
· In the LGBT group, men and women are equally likely to be caring for a parent or partner.
· Members of the general population are more likely to be in a relationship than those in the LGBT sample, 77% vs. 61%. More than a quarter (26%) of LGBT partners have gotten married, even though only five states grant marriage licenses to same-sex couples. Many (63%) say they would marry if there was a federal law allowing gay marriage.
· Nearly two thirds of LGBT Boomers say they have a “chosen family,” a group of people they consider family, even though they are not legally or biologically related.
