Are you actively looking for an LGBTQ friendly employer or passively open to new career opportunities? The new OutBüro virtual career fairs are for you.
While reviewing technology partners to bring this exciting service to the LGBTQ community every single potential solution partner stated, “I’ve been in this industry a very long time and I have never heard of any other LGBTQ focused virtual career fair. This is the first”. Additionally in chatting with recruiters and human resource directors, so far they have made similar comments. Further, each one so far as stated they are excited about this new approach to finding great new talent who happen to be LGBTQ.
Create your professional profile on www.OutBuro.com today so that recruiters can find you, knowing they are seeking quality LGBTQ candidates!
The OutBüro virtual career fair platform is intuitive and mobile-friendly making it possible for you as the job seeker to even participate while on your lunch break. In addition to interacting with employer recruiters via text chat, the recruiters may invite you to a one-on-one video chat. So please be dressed appropriately – even if just from the waist up. LOL Be in a quiet setting without lots of distractions.
Once you complete your virtual career fair profile, it will be usable in all future OutBüro virtual career fairs you participate in it. You may update your information at any time.
Employers, learn more about the OutBüro virtual career fairs focused on assisting your organization with its diversity and inclusion recruitment marketing to attract quality candidates who happen to identify as LGBTQ:
OutBüro’s mission is to connect the world’s LGBTQ employees, professionals, and entrepreneurs with opportunities to grow in their careers and grow their companies. We strive to connect companies and organizations that support LGBTQ Corporate Equality with quality candidates while providing a voice and insight into workplace culture and LGBT workplace issues.
Gay Marketing Association proudly awards the GMA 2020 Business of the Year Award: LGBTQ Corporate Equality to OutBüro!
Why this matters to us: LGBTQ workplace equality is especially important for the founder of Gay Marketing Association, Will Senn, who was previously terminated for coming out as gay at work and created a group he always wanted with Gay Marketing Association.
does Outbüro most contribute to the LGBTQ community?
Recently, Fabrice Houdart, a top Human Rights Advocate for the United Nations publicly said via a posting on LinkedIn, ”This (Outbüro) is fascinating and much more aligned with the UN’s Global LGBTQ Standards for Business than most (any) indexes! (LGBTQ Corporate Equality Indexes)”.
mission is to connect the world’s LGBTQ employees, professionals,
and entrepreneurs with opportunities to grow in their careers and
grow their companies. We strive to connect companies and
organizations that support LGBTQ Corporate Equality with quality
candidates while providing a voice and insight into workplace culture
and LGBT workplace issues.
LGBTQ employees ratings/reviewing their employers to improve LGBTQ Corporate Equality, and impact the economic growth of individuals and the LGBTQ community as a whole. It also provides a LinkedIn-style professional online community. Employers of any size, any type and anywhere in the world may participate leveraging the employer branding to convey in a consolidated platform all they do for their employees, clients/customer and the community. They also may utilize the site as a review/rating monitoring and interaction platform to stay abreast of what LGBTQ current and former verified employees think of them as an employer.
How does Outbüro feel about winning the GMA 2020 Business of the Year Award for LGBTQ Workplace Equality?
I am honored to be nominated and receive the recognition of this award. I started the first LinkedIn Group for LGBTQ professionals and entrepreneurs 12 years ago 100% voluntarily. After I began working to build Outbüro (www.OutBuro.com) I branded the LinkedIn group as a service of Outbüro.
I am so grateful that the community, including the Gay Marketing Association, is starting to take notice. Not for me, but for the entire LGBTQ community. Outbüro is where you belong and your voice matters.
Do you have any exciting plans for Outbüro in 2020? How will the organization expand?
Like most businesses, we had some early hurdles to overcome. Outbüro around 6 months behind where I wanted to be. So I am considering 2018-19 a soft launch and January 2020 it’s official launch.
So our exciting plans for 2020 is to be 100% fully functional by the end of January. There is just a small part to reach that. Then to start aggressively reaching out to employers of all types and sizes to join.
We will be expanding our grassroots marketing to attract more LGBTQ professionals and entrepreneurs to leverage the employer ratings/review platform where verified current and recent past employees may anonymously rate their employer on not only LGBTQ focused topics such as discrimination and harassment, but also general areas such as how happy are you to go to work each day, effectiveness of meetings and more. It is a tool to provide employers the accolades for supporting LGBTQ workplace equality. Posted ratings and review provides LGBTQ job seekers the information they need to find their next amazing employer.
Additionally, Outbüro is launching LGBTQ Virtual Career fairs bringing LGBTQ friendly employers together with quality LGBTQ candidates. Although not only a job site, we believe this will create a great value proposition for employers to get on board and LGBTQ professionals to join the site. The first 12 planned virtual career fairs are already listed on the site – easily found in the top navigation menu.
June 25, 2019 (updated November 8, 2019) Published by Dennis Velco
Promote LGBTQ Workplace Equality and Earn
We would like LGBTQ workplace equality to spread like wildfire and we applaud entrepreneurs, so today OutBüro launches it’s OutBüro Ambassador program.
What is the OutBüro Ambassador Program
It is an affiliate marketing system that anyone may register for. It is a system that is transparent providing each Ambassador with a unique URL that is customizable to share with prospective employers to use when claiming or adding their OutBüro Employer Listing. Employer listings subscriptions fees are based on a sliding scale depending on the number of current employees worldwide. Therefore it’s cost effective for companies/organizations of any size from 3 – 300,000 or more.
See the OutBüro Ambassador program overview for more information on how it works and the management area just for Ambassadors to track your clicks and successful Employer Listing subscriptions.
Currently, the Ambassador program offers a 10% commission on successful Employer listings that are claimed or added. The commission is not only on this initial annual subscription yet continues annually for as long as that Employer listing remains active. Therefore you earn an initial plus residual income.
You share your unique link with prospective employers. When they click through your Ambassador account is attributed for up to 90 days. It is in all our best interest to have them sign up as quickly as possible. If another Ambassador shares their link with the same employer you run the risk of the 2nd Ambassador being attributed with the signup. See the Ambassador program description for more detail on this.
Believe you can pull lots or big fish?
Do you believe you can attract a significant number of employers and/or very large employers? OK – contact us to discuss the opportunity.
Who can be an OutBüro Ambassador?
Anyone or any entity really. But some ideal Ambassdors would be the following:
An individual who already markets to businesses of any size.
A company who already markets to businesses of any size.
A company/organization LGBTQ employee who would like to champion their employer to claim or add their Employer listing to OutBüro. Perhaps this is on behalf of an LGBTQ employee resource group.
Any for-profit or non-profit that advocates LGBTQ workplace equality.
Any non-profit with a membership base such as community centers, chambers of commerce and so forth.
Again, really anyone or any entity may become an OutBüro Ambassador.
Are there any restrictions on the the earned commission may be used?
OutBüro does not place any restrictions on how the funds you, your company, or your organization uses the funds earned but here are some ideas:
Diversity and Inclusion Consultants
Same as all below and a very pertinent offering to expand the outstanding services you are already doing. It’s one more thing you bring to the table and earn.
Hey, use the funds any way you like. Pay bills, add to a vacation fund.
Pay your health insurance.
Pay other your debt down.
Pay for college tuition, book, rent, food, nights out.
Take that needed vacation.
Donate it to local LGBTQ non-profit charities.
It’s 100% up to you.
Small business – B2B marketing
Grow your business adding this as one more revenue stream.
Add needed hardware – buy a new laptop, etc
Pay company bills.
Throw a holiday party for staff and/or clients.
Invest in your business
Take a needed vacation.
Donate it to local LGBTQ community non-profits.
It’s 100% up to you.
Medium sized business B2B marketing
Same as Small Business
Support your internal LGBTQ workplace equality efforts
Launch an LGBTQ employee resource group
Expand your marketing and your exposure
It’s 100% up to you
Promote OutBüro to your membership base. They’ll also then be supporting your organization now and every year they retain their membership.
Get that needed website update accomplished.
Invest in technology to improve internal operations, security and other needed areas.
Add paid positions.
Expand your service offerings
Allocate the funds to annual project goals
It’s 100% up to you
OutBüro Gives Back Program
As soon as OutBüro starts a positive revenue track, which with your help as an Ambassador we hope will be soon. We’ll be allocating a percentage of quarterly profits to be donated to global, national and local non-profits that support LGBTQ workplace equality, opportunities for career advancement and training and general LGBTQ community support organizations.
You’re being an Ambassador can do so much good for you, your organization an the community at large.
Review the following to get up to speed
Review the following article from OutBüro to expand your knowledge so that you are ready to talk with employers about the value of being an open and welcoming LGBTQ workplace. Naturally, seek out other resources too for general information on diversity and inclusion.
I am so excited to have you considering becoming an OutBüro Ambassador. I’ve built OutBüro and the OutBüro on LinkedIn group with currently over 46,000 global members 100% on my own. It’s been my own time, energy and money to try to build a global resource for the LGBTQ community.
I can no longer do this alone and need you and your business connections. Naturally, I hope you also make every LGBTQ working professional no matter what job they do aware of OutBüro so they come review/rate their employer(s). As the employers are added and employee submits ratings/review OutBüro will become a valuable resource for both the employers, their employees, and future job seekers.
June 18, 2019 (updated September 16, 2019) Published by Dennis Velco
simple way to describe OutBüro
mashup of Glassdoor.com and HRC’s Corporate Equality Index while
moves beyond the scope, depth and reach of the HRC’s Corporate
OutBüro relaunches to enhance LGBTQ employees ability to anonymously rate/review their current and recent past employer(s) at no cost to the employee. The ratings capture many factors both unique to their LGBTQ work-life experience and general employee satisfaction with an intuitive user interface and user guides to make it simple.
72% of LGBTQ employees report mental health issues due to work environment often caused by discrimination and harassment. Today, even in the United States in many states it is still legal to discriminate against LGBTQ workers. Companies and organizations that create an LGBTQ friendly work environment reap the financial benefits according to many studies.
OutBüro aims to be the open and employee reported source for insight into the LGBTQ friendliness of every employer everywhere. OutBüro is inclusive yet not limited to US Fortune 1000 companies. OutBüro is available to all employers, any type, any size, and anywhere in the world. In the US, most Americans work for small and mid-sized companies as well as government, non-profits, and educational institutions to name a few.
Not only does it indicate if an employer has the following LGBTQ friendly policies, benefits, resources and practices, but it enables the employer to provide links to employer’s and 3rd party sites to socially prove it:
Sexual orientation non-discrimination policy
Gender Identity non-discrimination policy
Domestic partner benefits
LGBTQ employee resource group
Requires same LGBTQ equality standard in contractors and vendors
LGBTQ inclusion competency training
Has same policies, benefits, resources and practices throughout the globe and subsidiaries
Publicly demonstrates support for LGBTQ quality Globally, Nationally and Locally
Appropriately leverages LGBTQ content in it’s marketing year round – not just Pride month
Manage Your Employer Reputation and Brand
Employers may claim their listing if previously added by a current or recent past employee with limited feature. Or an employer may add a new listing themselves to control the content representing their company/organization. It also allows the appointed contact to interact with the anonymous employee reviewers while not having the ability to alter what has been posted. Claim or add your Employer listing now.
Since 2008, Dennis Velco founded and has nurtured LinkedIn’s largest LGBTQ networking group from a concept to an international networking resource with over 46,000 global members – that grows daily. Velco is a social entrepreneur with a passion for the gay, lesbian, bisexual, transgender, and queer community.
It was the driving force for Velco to launch the LGBT media crowd-sourced corporate social justice tech startup OutBüro. Additionally, OutBüro is a growing site of LGBT related business news, information, resources, and stories of careers and business owners.
Velco continues to moderate and grow the LinkedIn group yet now branded as and supported as a service of OutBüro.
For Dennis, creating, cultivating and growing the OutBüro on LinkedIn group has been a persistent and passionate endeavor.
OutBüro on LinkedIn welcomes gay, lesbian, bisexual, transgender (GLBT), queer, intersex and questioning professionals and entrepreneurs, along with friends, allies, recruiters and diversity professionals seeking to connect, network and communicate to advance their careers.
A Persistent Pioneer – How it began
“I’ve been on LinkedIn since way before people knew what it was, when I was living in New York City 16 years ago,” says Velco, now based in Fort Lauderdale, Florida. “Back then it wasn’t as prominent as it is today. I put it on the backburner for a couple of years. As more clients began to mention it in casual conversation in late in 2007, I got more involved and did what most people do-I filled it out like a resume and began to prospect on it.”
As he became more involved, Velco began noticing other features of the networking service, especially the preponderance of collegiate alumni association groups listed on people’s profiles.
“I scoured LinkedIn searching for an LGBT Group and looking up very prominent LGBT community members to see if their profiles had any LGBT group listed. I found nothing,” he says. After several patient inquiries and a few months of back and forth, it turned out the site wasn’t hosting an LGBTQ networking group.
Velco contacted LinkedIn providing a strong case for an LGBT group on the site. Eventually, LinkedIn gave the green light, and Velco agreed to be the group’s owner and moderator voluntarily donating his time and resources.
He approached the project with fervor and a sense of mission. “I felt and continue to feel it is vital to have a strong open and out LGBT presence on the world’s largest professional networking site,” he says. “People are much more likely to be out on Facebook yet still hesitant to be out on LinkedIn.” At Velco’s request, all groups on LinkedIn offer the option to hide a group’s membership on public profiles.
Adding Members & Content
Once LinkedIn signed off, Velco jumped in with both feet, embracing the project, donating hours of time each day – including weekends – to building the group, taking a labor-intensive, trial-and-error approach.
“I would search LinkedIn and find profiles of people that had ‘LGBT, GLBT, Gay, Lesbian, Bisexual, Queer and so forth’ in their listing and send them invitations to join the group. I’d have to be careful to weed out people who have ‘Gay’ in their names,” he says. “I then would send each person a personalized invitation to join the group.”
Building and maintaining this group has been a labor of love. “My past life partner thought I was crazy in the beginning of building it due to the amount of time and personal money I was investing in the group. The first several years I would spend anywhere from two to six hours a day combing the Internet for pertinent content to post,” Velco recalls.
“March 2018 will mark ten years that I’ve done this voluntarily,” he says.
In addition to writing pieces for the group, Velco searched international news sites to curate LGBTQ-focused, business-oriented pieces. “I would strive to stay non-political and avoid content that would alienate members,” he says. “I’d try to get global content because I didn’t want it to just be an echo chamber of U.S. and Canadian content. I can’t wait until LinkedIn gets automatic translations because I would like all members to be able to contribute, view and participate in their native language. I believe that being an English only site is a deterrent to many. Having such a feature I believe would increase member active participation.”
Nixing NSFW Content
Despite what a handful of aspiring members might think, LinkedIn is not an adjunct to Grindr or a Circuit Party Facebook page. Deflecting accusations of being sex-negative, Velco has spent a fair amount of time screening out applicants who submit genital images as their profile photos. As a business-oriented (rather than social) site, even shirtless pictures are typically verboten.
“Policing the group is important because while Facebook is typically banned at most businesses via the company internet, LinkedIn is not,” he emphasizes. I want OutBüro main site and our channels such as OutBüro on LinkedIn to remain Fortune 1000 level office friendly.
“I hold to LinkedIn’s terms of service. I’ve had to moderate and get involved with spats and even had a stalker who ended up banned from LinkedIn for life. I’ve had blatant anti-LGBT content in profiles. Every single person’s profile in the group must be reviewed by me to a degree.”
Partnering with StartOut
In 2017, as StartOut investigated new channels for outreach, freelance Marketing Director John Graham reached out to Velco to see if the two groups could cultivate a mutually beneficial relationship, one that would boost StartOut’s member recruitment.
“I knew how large the LinkedIn group was and how it made sense to develop a partnership with him. It’s a large channel to find LGBTQ entrepreneurs and those who support them,” Graham says. “The OutBüro on LinkedIn group has been one of the most effective means to continue growing StartOut memberships/registrations. It has been nearly 11 times more effective than Facebook.”
Today he’s exploring his new home town of Wilton Manors and the Fort Lauderdale, Florida area.
The group has from high school students through White House staff of both the Obama and Trump administration and every role in between. “Knowing that people at that level value the group enough to have an open LGBT or they are friendly representatives present makes me feel great. My effort to date has been well spent.”
Nevertheless, Dennis and his passionate quest continue with OutBüro being part of the evolution. He states, “I feel good because OutBüro is about helping people and companies/organization be better and make good decisions be being a resource and a tool of communication, growth, and change.”
April 18, 2019 (updated November 8, 2019) Published by Dennis Velco
Purchasing a home is a significant life event for most. The process is both exciting and stressful To add to that stress a new study suggests home mortgage lenders are less likely to approve gay and lesbian same-sex couples.
Same-sex borrowers may perform better – Gao
The study, by researchers at Iowa State University’s Ive’s Ivy College of Business, focused on national mortgage data from 1990 to 2015 and found the approval rate for same-sex couples was 3 to 8 percent lower. The research also included more detail dive about applicants’ work history and creditworthiness analyzed from a smaller dataset. Based on this data, same-sex applicants were 73 percent more likely to be denied than heterosexual couples.
Gay and lesbian same-gender couples who were approved paid higher interest and fees. Co-authors Hua Sun (pictured right) and Lei Gao (pictured in featured image), associate and assistant professors of finance, respectively, say the difference in finance fees averaged less than .5 %, but combined added up as much as $86 million annually.
Another research study published by the Proceedings of the National Academy of Sciences, found no evidence that gay and lesbian couples had a higher risk of mortgage default.
“Lenders can justify higher fees, if there is greater risk,” Gao said. “We found nothing to indicate that’s the case. In fact, our findings weakly suggest same-sex borrowers may perform better.”
While mortgage applicants are not required to disclose their sexual orientation, however when two women or two men walk in for a home loan through information causally shared while the couple is just being themselves can lead to discrimination. As indicated in another study by the University of Surrey, indicating that during an employment hiring process, LGBT people are discriminated against based solely on their appearance and/or speech. The Surrey study found that person who may or may not be LGBT but are preceived as being so are less likely to be hired, promoted and paid less than their heterosexual counterparts. This perception is just as damaging in terms of discrimination in the mortgage lending process the researchers say.
Check out this related study by Prudential on the financial health of American by gender, race and sexual orientation.
Sun and Gao say the findings of their Mortgage Lending study illustrate a need for change to make the lending laws fair for everyone. Loan decisions should be not be based on, not skin color, sexual orientation or gender. Lending should be based only on fundamental economic factors. Sun says making sexual orientation a protected class would limit potential discrimination.
The Fair Housing and Equal Credit Opportunity acts prohibit discrimination based on a borrower’s race, gender, marital status or religion, however, neither specifically, list sexual orientation.S
“Policymakers need to guarantee same-sex couples have equal access to credit,” Sun said. “Using our framework, credit monitoring agencies also can take steps to investigate unfair lending practices.”
Mortgage lenders though can move ahead of government and as a business ensure their company polices include being open, welcoming and fair to the LGBT community in their lending practices.
Sun and Gao used data from the Home Mortgage Disclosure Act, the Federal Reserve Bank of Boston and Fannie Mae Loan Performance to test whether perceived sexual orientation affected mortgage approval, cost and performance. Utilizing these datasets allowed researchers to validate their findings and control for factors such as income, variations in lenders’ underwriting standards and property type, which may influence approval rates.
Co-applicants with the same gender were identified as same-sex couples for the study. The researchers used Gallup and Census Bureau data of geographic distributions of LGBT adults to verify their identification strategy and reported a good matching quality.
Location, location, location
Previous research has shown that recent home purchases or refinancing in a neighborhood can predict defaults, which influences mortgage lending approval and interest rates. To determine if the percentage of LGBT individuals living in a neighborhood contributed to the disparity in approval rates, Sun and Gao looked at county-level percentages of same-sex applicants each year.
What they found was somewhat surprising. In neighborhoods with more same-sex couples, both same-sex and different-sex borrowers seem to experience more unfavorable lending outcomes overall. The researchers say the findings should raise enough concern to warrant further investigation.
April 17, 2019 (updated June 18, 2019) Published by Dennis Velco
The New Jersey LGBT Chamber of Commerce and TD Bank Partner to Support LGBTQ+ and Allied Business Owners
The New Jersey LGBT Chamber of Commerce in partnership with TD Bank is proud to host an “Access to Capital” event to help support business owners throughout New Jersey. Steven Garibell, Vice President of Business Development for the LGBTQ2+ Community at TD Bank will be hosting the workshop to help business owners identify their company’s financial status, future financial needs, and what financing options are available to them. Light refreshments will be served and time will be built in for attendees to network with fellow professionals.
The NJ LGBT Chamber of Commerce serves to connect LGBTQ+ and allied business owners and professionals with the resources they need to succeed while also to connecting them with New Jersey’s LGBTQ+ community at large. For more information, visit njlgbtchamber.org/.
“TD Bank has a long-standing commitment to our small business community,” says Garibell. “By working with organizations such as the NJ LGBT Chamber, we are able to bring our Small Business WOW! Zone classes to small business owners in diverse communities. Our work will help LGBT Business Enterprises ® gain greater access to capital thereby strengthening the communities they serve.”
As an affiliate of the National Gay and Lesbian Chamber of Commerce (NGLCC), the NJ LGBT Chamber offers LGBT Business Enterprise Certification ® as benefit of membership with the organization. Certified LGBTBEs are routinely sought after by over 250 NGLCC Corporate Partners who are looking to increase their spend with the LGBT business community. Certified LGBTBEs are also eligible for scholarship programs, mentorship and leadership training, and other business development tools following one year.
“LBGT Business owners generate over $1.7 trillion in economic impact (per NGLCC’s groundbreaking America’s LGBT Economy Report), create jobs and innovate business solutions nationwide,” says NJ LGBT Chamber of Commerce Board Member, Stephen Blazejewski. “We actively seek to work with corporate partners like TD Bank to host educational events that are critical in ensuring professional success for our Members and Future Members throughout the state of New Jersey.”
On May 1, the Business Owner Access to Capital event will take place at TD Bank’s Jersey City Branch; 125 18th St, Jersey City, NJ from 6-8 p.m.
About NJ LGBT Chamber of Commerce: The NJ LGBT Chamber of Commerce is New Jersey’s only LGBTQ business organization dedicated to strengthening LGBT businesses in the New Jersey tri-state area. The New Jersey LGBT Chamber of Commerce increases the economic staying-power of its members and allies and facilitates successful business collaboration. We are a platform for business visionaries, and the first stop for LGBT entrepreneurs and allies seeking to advance and access opportunity and resources. Join the New Jersey LGBT Chamber of Commerce to connect, collaborate & leverage business opportunities. For more information, please visit http://njlgbtchamber.org or connect with the NJ LGBT Chamber of Commerce on Facebook, Instagram, and Twitter.
March 15, 2019 (updated June 18, 2019) Published by Dennis Velco
launched today, OutBüro
Care+Plan is a
of service providers. It
is unique in that it is
lesbian, gay, bisexual, transgender, and queer (LGBTQ) community.
Believed to be the first of it’s kind.
Care+Plans are for individuals, couples, and families residing in the
United States regardless of citizenship status. It has opportunities
for independent entrepreneur, small business owners and non-profits
with a member base. OutBüro Care+Plans is focused on the LGBTQ
community, however it’s not exclusive – we aren’t meanies.
We’d welcome anyone to the OutBüro Care+Plans who meet the general
There are other
similar plans out there that anyone may use. OutBüro’s focuses
its content and service on the LGBTQ professional and entrepreneur
community. It is difficult or impossible to be your best on the job
or tending to your client as an LGBTQ entrepreneur when you have
health concerns. Your sinuses may be killing you, or you met a hot
guy and all you can think about is your erectile dysfunction.
management reached out to me, within our first call my interest was
high. I had already written articles based on studies including lack
of access and high
health risk LGBTQ people face,” Velco states.
reports indicate that a large number of persons residing in the
United States don’t have health insurance or are considering
dropping it in 2019. This is partially in part due to the Affordable
Care Act (ACA) mandate repeal that removed penalizes Americans on
federal taxes. LGBTQ persons are part of that group although we have
not found any study quantifying that to date.
Health insurance as emergency only plan
Velco states, “I
personally know many people who have health insurance but due to the
every rising costs they can only afford a plan with a very high
annual deductible, say $5,000. They treat their health insurance as
an emergency only plan.
They could leverage
the OutBüro Care+Plan for out of pocket cash payment discounts that
can still count toward the health insurance annual deductible. Why
pay full walk-in or insurance billing rates when you are trying to
reach your high heath insurance annual deductible if under normal
routine care you likely won’t reach it?
There are LGBTQ
immigrants and likely some are undocumented too. For most in that
status it can be challenging to impossible to even get health
insurance no matter how much they are willing to pay. The OutBüro
Care+Plan is not an insurance plan, but it can help reduce costs.
My own proof
Velco continues, “As
I learned more I quickly added up my own health care cost I racked up
over the past 3 months and found that had I had this plan, I would
have used the exact same vendors and would have saved enough to have
covered a full year of cost of the plan. I thought that if this
makes no brainier sense to me it’s going to hit home with others.”
February 26, 2019 (updated June 18, 2019) Published by Dennis Velco
Debt Free Guys, David AutenandJohn Schneider III, have recently launched the first in a planned series of witty, informative and results-oriented online courses. Debt Free Guys focus their personal finance insight on the LGBTQ Community. Learn a little more about Debt Free Guys in a past article we wrote about them.
Where to start?
David and John felt that starting with How to Pay Off Credit Card Debt is something a vast majority of Americans deal with and know it’s a problem in the gay, lesbian, bisexul, transgender and queer community.
In the first course you are :
provided a QUEER MONEY view on finances
taught how to change financial behaviour
will complete it with an actionable plan
grow toward personal financial freedom
Join David, John and your LGBTQ peers in creating peronsonal and community strenght through personal financial health.
December 12, 2018 (updated June 18, 2019) Published by Dennis Velco
Bright spots and areas of optimism exist within traditionally underserved groups in the face of income inequality, retirement insecurity and household debt, new data from Prudential Financial reveals. The in-depth exploration of data from Prudential’s Financial Wellness Census™ highlights the dramatic differences in the experiences of diverse populations within the U.S., many of whom were disproportionately impacted by the 2008 financial crisis.
“Resilient and diverse communities are the foundation of a stable and strong economy. Their progress enables our progress,” said Judy Dougherty, Prudential’s financial wellness officer. “This new analysis presents a layered portrait of the financial lives of Americans and exposes factors that underlie and sometimes impede our ability to achieve financial security. These insights are critically important to Prudential’s businesses, informing our efforts to develop products and services that help more Americans improve their financial health.”
The data highlights challenges and opportunities
The research details the wide range of outcomes, experiences and attitudes among traditionally underserved communities. For example:
By significant margins, black Americans at all income levels are more likely than the general population to prioritize helping others financially: taking care of parents or other family members, providing college tuition for their children, helping children with a down payment on a home, leaving an inheritance to their heirs, and giving to charity.
The average annual income for women in the survey was $52,521, compared with $84,006 for men—women reported earning about 63 cents for every dollar earned by men. Additionally, 54 percent of all women reported being the primary breadwinner in their household, irrespective of its makeup.
Thirty-eight percent of caregivers in the study do not think they will ever be able to retire versus only 25 percent of non-caregivers. Although caregivers for children with special needs were as likely as other caregivers and non-caregivers to have a defined contribution retirement plan, they were also the most likely to have taken a loan or hardship withdrawal.
“The journey to financial wellness is deeply personal,” said Lata Reddy, Prudential’s senior vice president, Diversity, Inclusion & Impact. “While there are common experiences that tie us all together, there are also distinct factors that are unique to our individual journeys that impact the ultimate destination. These factors need to be clearly understood for true progress to be made. The first step is to actively listen to the voices in our communities, and it is in this spirit that this research was conducted.”
The original Financial Wellness CensusTM was conducted by Prudential’s Decision Insights Group and Chadwick Martin Bailey within the United States between Sept. 20 and Oct. 9, 2017, among a nationally representative sample of 3,013 U.S. adults ages 25-70. For the complete survey methodology, including weighting variables and subgroup sample sizes, please contact [email protected].