Gays and lesbians who feel supported are more certain about retirement prospects

June 26, 2017, University of Waterloo

Gay men and Lesbians who don't feel socially supported feel less secure about their retirement than heterosexual adults, a study from the University of Waterloo has found.

The study of working Canadians aged 45 to 70 found the majority of them believed that retirement by age 62 was achievable. While the number held true for gay men and lesbians who felt socially supported, it dropped by a year more for those that felt isolated or marginalized.

Certainty of and perceived adequacy of retirement finances were also less secure the less supported gay men and lesbians felt.

"Psychological research shows that the more people feel supported, the more future oriented and planful they are," said Steven Mock, a professor of recreation and leisure studies at Waterloo and author of the study. "Research also tell us that those who may feel marginalized, such as members of the gay and lesbian communities, pay closer attention to then the general population, which could heighten the impact of support perceptions on planning.

"Because perceptions of support appear to have an impact on expectations relating to retirement age and finances, inclusive language and clear support for gay and lesbian clients is something that businesses and financial institutions will need to be aware of when assisting with ."

As part of the study, the researchers drew on data from the General Social Survey conducted by Statistics Canada in 2007. Analyses included over 6,000 working Canadians aged 45 to 70. Support, in the study, was defined as having people in your life you could trust, rely on and feel close to.

This study, supported by the Royal Bank of Canada, was recently published in the Canadian Journal of Aging.

Explore further: Your sex life is only as old as you feel

Related Stories

Doctors do not spend enough time planning their finances

June 11, 2013

(HealthDay)—Physicians do not spend enough time reviewing their finances, and half are behind in their retirement planning, according to a report published by the American Medical Association (AMA) Insurance Agency.

Recommended for you

Unprecedented study of Picasso's bronzes uncovers new details

February 17, 2018

Musee national Picasso-Paris and the Northwestern University/Art Institute of Chicago Center for Scientific Studies in the Arts (NU-ACCESS) have completed the first major material survey and study of the Musee national Picasso-Paris' ...

Humans will actually react pretty well to news of alien life

February 16, 2018

As humans reach out technologically to see if there are other life forms in the universe, one important question needs to be answered: When we make contact, how are we going to handle it? Will we feel threatened and react ...

Using Twitter to discover how language changes

February 16, 2018

Scientists at Royal Holloway, University of London, have studied more than 200 million Twitter messages to try and unravel the mystery of how language evolves and spreads.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.