What About Low-Income Folks?
Thank you for tackling the hot-button issue of finances in the article “Money Matters: 5 Financial Experts Offer Advice” [Lavender, Feb. 10]. I respect the opinions of the expert panel, but I believe they completely missed the boat on the main financial concerns facing the GLBT community.
As a social work student, I work with individuals more focused on rent and utilities than 401Ks and estates. Despite its importance, the majority of the community doesn’t have the luxury to focus on long-range financial planning, because more of us than we would like to admit live at or near the poverty line.
I wish the panel had given perspectives relevant to low-income earners on how to balance short-term financial needs with long-term planning. The discussion of finances should be broadened to include people from all ends of the economic spectrum.
I believe that it is the GLBT community’s responsibility to address the financial and social needs of our most vulnerable members. This is especially important in the current political climate focused on cuts to services, health care, and aid to the needy.
The GLBT community can take the lead by having a frank dialogue about how money management should be a priority, especially for those who live from paycheck to paycheck. Honestly, these are the people for whom money matters the most!
Editor’s Note: According to the International Demographics Media Audit, the Mean Income of Lavender readers is $89,996, while their Mean Home Value is $315,123.