WHY IS THIS SO IMPORTANT FOR OUR ELDERS?
50% of single, LGBTQ+ elders believed that they will have to work well beyond retirement age, compared to 27% of single, non-LGBTQ+ elders. On top of this, 51% of LGBTQ+ elders are very or extremely concerned about simply having enough money to live on, compared to 36% of their non-LGBTQ+ peers.
If this sounds like you or someone you know, SAGECents may be able to help.
CELEBRATING 2 YEARS OF SAGECENTS!
Two years ago, SAGE, the world’s largest and oldest organization dedicated to improving the lives of LGBTQ+ elders, launched SAGECents, an app designed to help LGBTQ+ elders expand their financial literacy. With the lasting effects of a lifetime of discrimination, heightening rates of inflation, and the ongoing impact of the pandemic, SAGECents has been a crucial resource for this community in the last few years.
To date, SAGECents has served over 1200 users. More than half of surveyed users have reduced their debt by at least $200 and 42% have improved their credit scores by 25 points. Read more here!
WHAT ARE CURRENT USERS SAYING?
“[SAGECents] has been a lifesaver for me, especially during the pandemic. Having to cut back on things, staying within my budget. I have cut back over 50% on a lot of bills – I don’t have any big bills, vehicles are paid off. I’ve been working more on my savings, having more saving in there, which I do have now.” – SAGECents user in Washington, D.C.
“I worked for 40 years as a social worker, living paycheck to paycheck and doing the best I can. Now that I’m retired, I’m doing better, but still need some guidance and direction. The app really helped me validate how I’m feeling and gave me a road map on how to get to where I want to go.” – SAGECents user in New York City.
This program was created in partnership with LifeCents and with generous support from the Wells Fargo Foundation to ensure that LGBTQ+ elders have access to resources that will support their financial literacy and stability. Learn more about Wells Fargo Foundation’s diversity and inclusion work with the LGBTQ+ community here.
I worked for 40 years as a social worker, living paycheck to paycheck and doing the best I can. Now that I’m retired, I’m doing better, but still need some guidance and direction. The app really helped me validate how I’m feeling and gave me a road map on how to get to where I want to go.