The article discusses the high poverty rates among LGBTQ+ seniors, revealing that nearly 40% live below the federal poverty line, largely due to economic discrimination, lower lifetime earnings, and challenges in homeownership. In the U.S., one in five households led by people over 50 lacks retirement savings, with a significant number of elders expressing anxiety about financial security. Experts suggest enhancing affordable, LGBTQ+-affirming housing as a potential solution, despite challenges posed by government incentives in areas with anti-LGBTQ+ legislation.
This fear is felt even more strongly by LGBTQ+ elders, about 40 percent of whom are living below the federal poverty line.
Long-term care is extremely expensive as we age, and 50 percent of the LGBTQ+ population falls into the 'very low income' level determined by area median income.
One of the most straightforward ways to address this crisis is to fund affordable, LGBTQ+-affirming elder housing programs.
Even states that have discriminatory policies often have cities that have their own ability to issue debt or build housing.
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