They are also smarter spenders than the average American, a study shows.
CNN says so…
They earn more, save more, have less debt and are better prepared for retirement, according to a Prudential survey of more than 1,000 LGBT respondents.
Respondents not only reported significantly higher annual incomes — $61,500 compared with the national median of $50,054 — but they also carried about $4,000 less in debt than the average American and had $6,000 more in household savings. They were even slightly more likely to have jobs in the first place, with an unemployment rate of 7% versus the national rate of 7.9%, Prudential found.
But why? Because they tend to be better educated and live in higher educated areas. Historically, they’ve also been unable to reap the financial benefits heterosexual couples receive on taxes, Social Security, pensions, and so forth, which likely makes them more careful spenders.