Lesbian, gay, bisexual and transgender investors are more bullish about the future of the U.S. economy than their straight counterparts, a new UBS report has found.
In the medium-term, 63% of LGBT investors polled by UBS were optimistic about the U.S. economy, versus 49% optimism for straight investors.
In the long-term, LGBT investors were even more bullish — 67% were optimistic versus 57% for other investors.
One reason for the optimism: the Defence of Marriage Act ruling, “which has had a profound emotional and financial impact on their lives,” according to the report. In June, the Supreme Court ruled the controversial 1996 law that barred federal recognition of same-sex marriage unconstitutional.
LGBT investors are less worried about rising health care costs and the national debt and “are more likely to feel highly confident they will achieve their financial goals and feel stronger momentum regarding their financial situations.”
On the bearish end, LGBT investing concerns include retirement savings, marriage equality, and the ability to find LGBT-friendly care facilities in old age.
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