Balancing flexibility with personal responsibility
As a single LGBTQI+ person, the additional flexibility in your lifestyle also comes with a greater degree of personal financial responsibility and the need to rely upon yourself. Wisdom and maturity are available at any age and have little to do with our 'clock age'.
- Single people are keenly aware of the risk of becoming sick or even disabled.
- Being single and self-reliant means you generally have to save more in your emergency savings fund, be careful with your long term health and have a higher amount of disability insurance in case you get sick or injured and can't work temporarily or lose your ability to earn your income long-term.
- For many single LGBTQI+ Australians, there’s often no financial backup and usually diminished family support; so staying healthy and independent, and able to continue to earn your income is something you cannot afford to lose.
Being single can bring a level of freedom that needs a greater level of protection.
Why LBGTI single people need specialist financial advice
- As a community that still has more single people than coupled, we are more vulnerable to the financial risks that losing our ability to earn our income brings.
- For many people in the LGBTQI+ community who are single, unmarried or unpartnered, longer-term financial stability and security can be a source of anxiety.
If you’re single and LGBTQI+ it's time to learn more about your options today and then take action to protect what you cannot afford to lose - your ability to continue to earn your income.