Retirement Options for Gays and Lesbians

Currently, around a dozen seniors-only housing developments are marketed to gays and lesbians, specifically. Retirement experts believe more senior facilities will cater to aging gays and lesbians as the demand grows. Some estimates state that in the next two decades, between two and seven million gays and lesbians will turn sixty-five. Current retirement options for gays and lesbians are below:

Affordable Housing: Triangle Square is a gay and lesbian retirement community for low-income seniors. The Gay and Lesbian Elder Housing organization built the Triangle Square in 2007, and the community has 104 apartments. The community is located in Hollywood, California, but there are plans for similar communities in Chicago and Philadelphia.

Continuing Care Retirement Community: The first continuing care retirement center for gays and lesbians, Fountain Grove Lodge, opened in Santa Rosa this year. The price tag is a bit high, but the facility offers both independent and assisted living, as well as some Alzheimer’s care.

DIY: For gays and lesbians who do not live in areas that provide retirement communities or senior centers that cater to gays and lesbians, taking a do-it-yourself approach may be the best option. Co-housing with other senior gays and lesbians can be cheaper than a retirement community and still provides a community-minded atmosphere.

See Catey Hill, New Options For Gay Retirees: Demand for Gay and Lesbian Senior Facilities is Growing as are the Choices, SmartMoney, Nov. 14, 2011.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.