Many LGBTQ+ seniors struggle with financial stability and wonder if they can really afford to retire. It’s difficult to save and invest if you’ve been disowned by family or blocked from accessing healthcare, and many LGBTQ+ people have to overcome these challenges. 

The following guide from queer voices highlights how to organize your financial records, refinance your home, sell your business, and more.

Tracking Your Finances

First, you need to figure out exactly how much money you need to cover your costs of living, and how much you’re spending. Track your monthly expenses, compare them to your savings, and consider working part-time for an LGBTQ-friendly employer if you need supplementary income. NewRetirement recommends looking into part-time jobs like tutoring, pet sitting, or working in retail.

Stay Organized

To stay on top of your finances, keep all of your financial records and documents organized. By converting your documents to PDFs, you can ensure that you’ll always be able to access these files from any platform or device. You can easily convert your physical documents into digital formats with a mobile scanning app. Simply snap a photo of the document with your phone’s camera so that you can quickly convert it. Ideally, you’ll want to use an app that lets you compress and password-protect files.

Seek Out Healthcare Resources

Seniors have more intensive healthcare needs than younger people, but it can be tough to find LGBTQ-friendly healthcare providers. To find doctors who accept you as you are, and provide the specific healthcare services you need, Healthline suggests asking your LGBTQ+ friends if they have any recommendations, and checking in with local healthcare clinics and LGBTQ+ resource centers. They may be able to give you referrals.

Refinance Your Home

If you own property, you can free up valuable cash by refinancing your home for a better interest rate. This approach can enable you to reduce your monthly mortgage payments, and you may be able to secure a better rate and terms compared to your original mortgage. Remember, refinancing is best for people who plan to stay in their homes for a long period of time, so if you’re planning to move in retirement, you might want to check in with a real estate agent or financial advisor to find out if this would be a smart choice for you.

Sell Your Business

As you approach retirement, you may want to consider selling your business if you’re self-employed. This can boost your savings for extra security. Prior to selling, take the time to seek out a professional valuation to get an objective assessment of your company’s value. The valuation will encompass lots of assets, including any company real estate or inventory.

Practice Affordable Self-Care

As a member of the LGBTQ+ community, you’re coping with unique challenges, and you deserve to truly relax and enjoy your golden years. You don’t need to spend lots of money on luxurious vacations to make the most of your retirement. Instead, look for affordable ways to indulge in self-care while saving money. You might want to check out engrossing books from your local library, unwind with regular home spa days, host your friends for potluck dinners, or go for sunrise walks while sipping your morning coffee.


Navigating retirement can be complicated for LGBTQ+ seniors. But with the right approach, you can ensure that you’re financially prepared. By following these tips, you can sort out your financial documents and bulk up your savings by refinancing your home or selling your business.