LGBTQ Millennials: “American Dream” tough to achieve by 40, survey reveals

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The Millennial generation is known for its distrust of Wall Street and lack of self-assurance when it comes to money, investing and getting ahead.But LGBTQ Millennials are even less confident than their straight peers when it comes to managing their finances and achieving the American Dream, according to a survey that online brokerage TD Ameritrade provided exclusively.While many past surveys have compared the money habits of men and women, or married Americans vs. single ones, this study released during Pride Month analyzes the differences in how LGBTQ (lesbian, gay, bisexual, transgender, questioning) and straight Millennials view their financial situations.While some similarities existed — both groups saved a similar percentage of their monthly incomes, were nearly as likely to invest in stocks and followed traditional career paths — there were also glaring disparities. Those differences suggest that LGBTQ Millennials are lagging behind their straight peers in key areas such as pay, financial literacy and confidence in their long-term financial futures.

 

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