Making up nearly 10% of the U.S. population (about 31 million), the LGBTQ+ community has a rich culture and history of embracing diversity, individuality, and everyone's right to live authentically. While economic challenges remain, there has been meaningful progress and hard-won gains.
- The LGBTQ+ community represents 1.43 trillion in annual purchasing power.
- Approximately 1.4 million LGBTQ+ business owners contribute $1.7 trillion to the U.S. economy each year.
- Companies in the top quartile for gender diversity are 21% more likely to experience above average profitability.
Yet, challenges persist. Discrimination continues to play a role in income disparities and limited career advancement. Additionally, the LGBTQ+ community often faces distinct challenges in retirement planning, long-term care, estate planning, and wealth transfer.
At Knox Grove, we’re dedicated to empowering LGBTQ+ individuals and families to confidently navigate their financial future. We understand the distinct financial considerations that come with the community’s wide range of family structures. Domestic partners, in particular, can benefit from a well-structured financial plan and the right legal documentation, including:
Power of Attorney for both financial and medical purposes
- Wills – Traditional and Living
- Current Beneficiary Designations for insurance policies and retirement accounts
- Revocable Living Trust
- HIPAA Privacy Authorization and Hospital Visitation Authorization
Start by taking stock of your assets, assessing potential financial risks, and ensuring everything is properly protected. It’s also important to have a flexible financial plan—one that can adapt as laws or policies affecting the LGBTQ+ community evolve and potentially influence your goals or financial outlook.
As an LGBTQ+ investor, aligning your portfolio with your values can be a powerful strategy. Socially Responsible Investing (SRI) and Environmental, Social, and Governance (ESG) frameworks enable you to invest in companies that prioritize LGBTQ+ inclusion, equitable policies, and ethical governance. Not only can this support meaningful causes—it can also help manage long-term risk and enhance performance.
No matter where you are on your financial journey, we're here to support you. As a trusted provider of financial planning services for the LGBTQ+ community, we take pride in offering guidance rooted in experience and a deep understanding of your unique needs. With Knox Grove by your side, you’ll have a dedicated team helping you navigate Your Path Forward with clarity and confidence.