Pride & Opinions

One of the most obnoxious but predictable effects of GLBT bias is the way that it often intersects with other forms of oppresion (racial, gender, class-based, religious, disability, etc) to make every situation worse. Nina at Queercents comments on one manifestation of this- how gender discrimination against women in the workplace can be especially problematic for lesbians and other queer females, because it multiplies the effects of both. First, there’s the issue of being female, which Nina says makes figuring out - and planning for - the amount of money needed for retirement harder to accomplish:

For many people, contemplating retirement can trigger anxiety about having enough money. There are gobs of books one might read to make sure the magic number has been saved. There are worksheets and online calculators that can help determine the amount. While it’s a highly personal calculation, figuring out the number is usually the easy part.
Establishing the plan to reach the number is typically the bigger challenge. Women have a harder time than men with closing the retirement savings gap. We live longer and make less. This isn’t an astounding revelation.

The challenges that face women in the workplace are a combination of factors - women may take more time out to raise family, or care for elderly family members, household tasks that sterotypically fall to women. Add in the fact that women still don’t make as much money for their work as men, through both pay discrimination and the fact that a lot of the jobs typically done by women are assigned less value by the economy. But add in LGBT status and, though you might not make any less money (though you totally might, since discrimination based on sexual or affinity orientation is completely legal in the US and most states), you’ll have less options for making up the gap.

Why is this? Well, as Nina explains, a lot of the ways that women are encouraged to make up the difference, especially if they leave the workforce for awhile to take care of others, are things like spousal IRAs or taking advantage of tax loopholes based on one’s partners. And as she notes, “Unfortunately, this doesn’t apply to the LGBT community. You have to be married for a Spousal IRA to be available to you as a stay-at-home parent. This puts queers at a further disadvantage.”

THIS is what gay marriage is about for me, a lot of the time.

Link via Queercents

GLBT, lesbian, gay marriage, financial advice, intersectionality

GLBT, lesbian, gay marriage, financial advice, intersectionality