Retirement Planning for the LGBTQ+ Community

Connect with available housing and financial resources

Reviewed by Thomas J. Catalano

For an older LGBTQ+ individual, planning for retirement involves more than just ensuring they have enough income to meet their needs and enjoy their lifestyle. Fortunately, there is a growing number of retirement communities and resources that help address the unique needs of LGBTQ+ retirees.

Key Takeaways

• Retirement planning for LGBTQ+ people involves more than just getting their finances in order.
• LGBTQ+ retirees may face challenges, such as a lack of social and family support.
• The number of LGBTQ+ inclusive retirement communities is increasing.

Retirement Planning

The LGBTQ+ rights movement has made tremendous progress since the police raid on the Stonewall Inn sparked days of protests in 1969, and societal attitudes and legal protections continue to evolve. As of 2025, marriage equality and laws help protect LGBTQ+ people where they live and work. Still, many older LGBTQ+ people may feel isolated or lack the support of family members who would typically help with caregiving.

About 80% of older LGBTQ+ people surveyed by AARP expressed concern about having family and social support systems they can rely on as they age. About three-quarters worried about sexual orientation leading to discrimination in purchasing a home.

A history of discrimination in areas as broad as education, employment, and housing has also had a cumulative impact on the financial well-being of many LGBTQ+ people. Poverty rates tend to be higher among members of the LGBTQ+ community, while income levels tend to be lower. In general, earning less means saving less. Same-sex couples have put away less toward retirement, on average, and are less likely to have an estate plan.

Note

Over 50% of middle-income LGBTQ+ respondents say they aren’t confident they will save enough for retirement, according to a survey by the Employee Benefit Research Institute.

Finding Community

According to SAGE, an organization that provides advocacy and resources to LGBTQ+ elders, there will be 7 million LGBTQ+ older adults 65 or older by 2030. Groups like SAGE recognize that finding a welcoming living situation can seem daunting for older LGBTQ+ people, especially if they’ve experienced discrimination in housing or healthcare situations in the past.

Indeed, more than six in 10 respondents to previous AARP surveys have expressed concern about neglect, abuse, or harassment in a long-term care environment. An investigation by the Equal Rights Center found that nearly half of same-sex couples exploring senior housing in 10 states experienced unfavorable treatment in the form of less favorable housing options, costs, and financial incentives.

To meet the needs of the LGTBTQ+ community, SAGE has been developing welcoming living communities that combine affordable housing with community centers. The group also joined with the Human Rights Campaign to create the Long-Term Care Equality Index, an assessment tool to help care facilities provide a welcoming environment for older LGBTQ+ people.

Housing Resources

LGBTQ+ organizations can also help with everything from finding housing and care to advocating on your behalf. The Equality Federation has local advocacy groups in most states, while CenterLink lists LGBTQ+ community centers around the country. SAGE’s National Resource Center on LGBT Aging also tracks legal and financial resources in each state. Individuals are commonly advised to:

• Find out if the facility has anti-discrimination policies and training.
• Look for places that host LGBTQ+ community organizations or events.
• Designate someone as a medical power of attorney, authorizing them to make medical decisions in case of incapacitation.
• Individuals who experience discrimination should wage a complaint to facility staff or management. Additionally, they can file a complaint with the U.S. Department of Housing and Urban Development if in federally supported housing, or with the state or local government.

Warning

Over one-third of U.S. states don’t have explicit laws banning discrimination based on sexual orientation or gender identity.

Prepare Financially

The legal landscape has become significantly friendlier to the LGBTQ+ community, especially for same-sex couples. In 2015, the landmark Supreme Court ruling in Obergefell v. Hodges made same-sex marriage legal across the country.

Married same-sex couples can access all of the federal program benefits other married couples do, such as leveraging their spouse’s work history when claiming Social Security, as well as tax and estate planning advantages. However, for unmarried LGBTQ+ couples, benefits often won’t transfer to surviving partners without some legal and estate planning efforts. Planning for retirement for older LGBTQ+ people can be challenging, so estate planning is important:

• Review important documents such as a will, life insurance policy, and 401(k) to make sure the beneficiaries are included.
• If married, consider ways to maximize newfound benefits, such as a spousal IRA.
• Seek professional advice to develop a plan that meets all unique retirement needs.

Legislation and Government Policy

Another key Supreme Court win for the LGBTQ+ community was Bostock v. Clayton County in 2020, which banned employment discrimination based on sexual orientation and gender identity. In January 2021, President Joe Biden issued an executive order ensuring the protections cover other areas where sex discrimination is outlawed, such as in housing, education, and healthcare.

According to the Human Rights Campaign, several Executive Orders issued by President Trump in January 2025 will affect LGBTQ+ individuals who may need to review new or upcoming restrictions on federal identification documents such as passports. The White House has confirmed that it intends to honor unexpired passports that reflect a person’s gender identity but will not renew or issue new passports that reflect anything other than assigned sex at birth. 

For those in the military planning to retire, President Trump is reinstating and expanding the military ban on transgender service members. Additionally, proposed cuts to the federal workforce in 2025 could impact 314,000 LGBTQ+ employees according to the Williams Institute.

SAGE, an organization that advocates for older LGBTQ+ people, launched SAGECents, a digital platform that provides financial information and tools as a resource.

Can an Unmarried Individual Receive Their Partner’s Retirement Benefits?

Unmarried partners don’t receive Social Security spousal benefits. In addition, non-spousal beneficiaries are given less favorable tax treatment than spouses when they inherit an IRA or 401(k).

What Is a Retirement Community?

Retirement communities are designed for people in their mid-50s and older. They are often also called independent living communities. They commonly offer amenities such as a pool or on-site dining. Housing in a retirement community might include single-family homes, apartments, or both.

How Does Discrimination Impact the Financial Wellbeing of LGBTQ+ People?

Discrimination can lead to fewer job opportunities and lower wages. As a result, many older LGBTQ+ adults lag behind their heterosexual counterparts when it comes to saving for retirement. When you earn less, you save less. If you get a late start, saving enough for a comfortable retirement becomes even more difficult.

The Bottom Line

Older LGBTQ+ individuals may face challenges as they retire. Knowing their rights and seeking out LGBTQ+-friendly resources and retirement communities are among the ways to overcome some of the obstacles the community faces.