Can the government really affect prices on everyday products we buy?

In this episode of Queer Money, we talk with Heather Boushey, one of three members of President Biden's Council of Economic Advisors and Chief Economist for the Investing in America Cabinet. This episode focused on the state of the economy and how the Biden administration plans to tackle rising costs across the board for all Americans.

Boushey offers her perspective on the state of the economy during the pandemic and the recovery that followed. She emphasizes the administration’s focus on creating good jobs and ensuring that markets are fair and competitive, highlighting the importance of growing the economy from the middle out.

She addresses concerns about the cost of housing, especially for millennials and Gen Z, outlining the administration's plan to create more affordable housing options. Boushey also discusses the Biden administration’s efforts to lower healthcare costs, especially for older Americans, by capping insulin costs and negotiating drug prices.

The episode also explores the rising costs of education and the administration’s commitment to tackling student loan debt. Boushey shares her own experiences of receiving gratitude from people who have benefited from student loan forgiveness programs.

Throughout the conversation, Boushey emphasizes the importance of democracy and the challenges of implementing economic policy. She concludes by sharing her optimism about the potential for positive change and the importance of working together to create a more equitable and prosperous future.

Topics Covered

• State of the economy during and after the pandemic
• The Biden administration’s economic agenda
• The importance of creating good jobs and fair markets
• Affordable housing initiatives for millennials and Gen Z
• Efforts to lower healthcare costs, especially for older Americans
• Addressing the rising costs of education and student loan debt
• The challenges of implementing economic policy in a democracy
• The importance of working together for a more equitable future

For the resources and to connect with our guests, get the show notes at: https://queermoneypodcast.com/subscribe

Follow us:

• Queer Money Instagram
• Queer Money YouTube
• Queer Money on Tiktok

Download your FREE Queer Money Kickstarter a 9-step Guide to Kickstart Your Journey to Financial Independence

Mentioned in this episode:

Join us in Detroit for Queer Money Bingo!

Queer Money Bingo is coming to downtown Detroit, August 15th at 5:30 pm. There will be free coffee drinks, swag and prizes! Click the link below to RSVP and make sure you bring a friend.

Queer Money Bingo - Detroit - August 15th

When should you start saving for retirement?

On this episode of the Queer Money Podcast, we talk with Michael Kim who shares his story of planning for retirement early so he can reach his goal of retiring by age 55. This episode touches on the importance of self-reflection to determine what you want and how you can use that knowledge to help plan for your retirement.

Michael's motivation for early financial independence stemmed from his childhood anxieties about financial security and fear of not being accepted by his family due to his sexuality. He shares that knowing that he is judged by some people simply for being who he is has been a blessing in the sense that it has liberated him to focus on what he wants in life, regardless of what other people think.

Some of Michael’s tips include creating a ‘vanilla’ goal (realistic) as well as a more ambitious goal (dream) goal, four steps to plan for an early retirement, and a 50/50 investment mix of safe and risky investments. He also shares 3 steps to achieving any financial goal.

Topics Covered

• Early retirement planning
• The impact of childhood financial experiences on adult financial behavior
• Financial challenges faced by LGBTQ+ individuals
• The role of fear and anxiety in financial decision-making
• Goal setting and financial independence
• The importance of financial literacy
• Investment strategies (passive investing and stock options trading)
• Budgeting and saving money
• Lifestyle choices and financial well-being
• Overcoming societal-pressures in financial decision-making
• The importance of personalized financial planning
• Michael’s four steps to plan for early retirement
• How to estimate your expected income during retirement (rental income, business income, investment income, etc.)
• Calculate your expected expenses during retirement (likely lower than current expenses)
• Determining the gap between income and expenses in retirement
• Calculating how much you need to save to cover the gap until the end of your life
• Michael shares his personal investment strategy, which uses a 50/50 approach.
• Passive investing in ETFs and broad market funds for a safe and easy approach
• Stock options trading for a higher potential return with higher risk (requires advanced knowledge and a coach)
• Michael also shares his 3 steps to achieving any financial goal
• Michael’s advice for those in their 50’s who haven’t planned for retirement.
• How being nomadic has helped Michael’s health, business, and finances.
• How Michael reducing travel costs with geographic arbitrage and slow traveling.
• Habits that contribute to achieving financial goals. Prioritizing experiences over expensive possessions.

For the resources and to connect with our guests, get the show notes at: https://queermoneypodcast.com/subscribe

Follow us:

• Queer Money Instagram
• Queer Money YouTube
• Queer Money on Tiktok

Download your FREE Queer Money Kickstarter a 9-step Guide to Kickstart Your Journey to Financial Independence

Mentioned in this episode:

Join us in Detroit for Queer Money Bingo!

Queer Money Bingo is coming to downtown Detroit,...

What are the best countries for LGBTQ+ folks?

We've received a lot of feedback on our Affordable LGBTQ+ Friendly Cities series. One of the most common requests is for us to look at cities outside the United States. So, we're going to kick that part of the series off with taking a look at the best countries for LGBTQ+ folks based on acceptance and legal protections.

This is Queer Money episode 529, and today we're looking at 12 countries that are the best for LGBTQ+ folks.

• Get the dynamic list of Affordable LGBTQ+ Friendly Cities in the U.S. here.
• Watch this week's episode on Youtube
• Watch last week's episode on Youtube
• Don't miss the other states we've covered in this Gay Cities series

Past episodes mentioned in this episode:

• 381: The Series Kick Off
• 433: Top 10 Cities Part 1
• 485: Top 10 Cities Part 2
• 487: Top Surprises
• 497: Blue States
• 499: Purple States
• 501: Red States

Follow us:

• Queer Money YouTube
• Queer Money Instagram
• Queer Money on Tiktok

Mentioned in this episode:

Join us in Detroit for Queer Money Bingo!

Queer Money Bingo is coming to downtown Detroit, August 15th at 5:30 pm. There will be free coffee drinks, swag and prizes! Click the link below to RSVP and make sure you bring a friend.

Queer Money Bingo - Detroit - August 15th

What is the current economic state of the transgender community?

First and foremost, transgender individuals are concerned for their safety. And sometimes finances take a back seat to survival. But being fiscally secure affords you the opportunity to protect yourself and your community. So, what is the economic state of the trans community? What can transgender individuals do to earn more—without having to hide who they are?

K. Kenneth Davis is the creator of The Trans Capitalist, a platform that educates and empowers the LGBTQ+ community with the goal of dismantling systemic poverty and economic discrimination. A proud Black transgender financial literacy advocate and certified data scientist, Kenneth landed a spot on the Forbes List of Top Trans Entrepreneurs.

On this episode of Queer Money®, Kenneth joins us to share an overview of the financial state of the trans community and discuss how their sense of wellbeing has evolved over the last decade. Kenneth explains how gatekeeping and lack of access to education affect trans people’s earning power and offers solutions for lowering poverty rates and increasing incomes for the transgender community.

Listen in for Kenneth’s insight on trans discrimination in financial services and learn how to leverage financial literacy and certificate programs to achieve financial security as an LGBTQ+ individual.

Topics Covered on the economic state of the transgender community

• How receptive the trans community has been to Kenneth’s work in personal finance
• Why it’s crucial for our community to take our finances as seriously as the other issues we face
• Kenneth’s overview of the financial state of the trans community right now
• How the general sense of wellbeing among the trans community has changed in the last decade
• Kenneth’s take on what’s behind the anti-trans legislation promoted by the far-right
• Where the majority of trans people live in the US (and why so many live in the South and Midwest)
• Kenneth’s take on the NBC News article on finding community in red states
• How lack of access to education and gatekeeping affect trans people’s earning power
• Why it’s more challenging for trans folks to get an ROI on higher education
• Kenneth’s solutions for lowering poverty rates and increasing incomes for trans people
• Why trans people of color experience greater wage disparity than other demographics
• How data on the LGBTQ+ community might be skewed because respondents tend to be younger
• Kenneth’s experience with discrimination in financial services as a trans individual
• The link between gender-affirming care and the mental health of the transgender community
• Why the percentage of trans people who earn $100K is higher than the general population

For the resources and to connect with our guests, get the show notes at: https://queermoneypodcast.com/subscribe

Follow us:

• Queer Money Instagram
• Queer Money YouTube
• Queer Money on Tiktok

Download your FREE Queer Money Kickstarter a 9-step Guide to Kickstart Your Journey to Financial Independence

Mentioned in this episode:

Join us in Detroit for Queer Money Bingo!

Queer Money Bingo

What are the most affordable LGBTQ+-friendly college towns?

When we talk about affordable LGBTQ+-friendly cities across the U.S., we often highlight many larger cities, but we don't talk much about college towns and one of you requested a list of these places.

Since many college towns are small towns and cities there generally isn't much data on LGBTQ+ friendliness of these locations. So we did a bit of digging and found colleges that are in cities and towns that are on the HRC Municipal Equality Index as well as cities and towns that rank high on bestcollegereviews.org and collegevaluesonline.com.

This is Queer Money episode 527, and today we're breaking down 7 college towns or cities that are both affordable and LGBTQ+ friendly.

• Get the dynamic list of Affordable LGBTQ+ Friendly Cities in the U.S. here.
• Watch this week's episode on Youtube
• Watch last week's episode on Youtube
• Don't miss the other states we've covered in this Gay Cities series

Past episodes mentioned in this episode:

• 381: The Series Kick Off
• 433: Top 10 Cities Part 1
• 485: Top 10 Cities Part 2
• 387: West Virginia
• 407: Pennsylvania
• 419: New York
• 435: Missouri
• 451: Kentucky
• 459: Illinois
• 455: Iowa
• 487: Top Surprises
• 497: Blue States
• 499: Purple States
• 501: Red States

Follow us:

What are the best retirement side gigs?

Spending our days on the links or knocking back a few electric lemonades on the front porch is not the retirement reality for a lot of LGBTQ+ Americans. With the growing retirement crisis hurting marginalized communities more, many must still work in retirement. So, what can you do if this applies to you?

On this episode of Queer Money®, we’re sharing the top ten side gigs or part-time jobs you might take on in retirement. We explain how working in retirement affects Social Security benefits and discuss how much you can earn as a pet sitter, rideshare driver or vending machine investor. We also describe opportunities to supplement your retirement income as an online teacher, handyman or fitness instructor.

Listen in for insight on leveraging your professional expertise as a consultant and get ideas for the retirement side gig that’s a good fit for you!

Topics Covered on retirement side gigs

• Why LGBTQ+ individuals may need to work in retirement
• How working a side gig or part-time job affects Social Security benefits
• The 10 leading side gigs for seniors to earn extra income in retirement
• How much you can earn as a pet sitter or dog walker
• Why you might enjoy house sitting as a side hustle in retirement
• How to build a business in the $40B/year storage industry
• Making extra money as an Uber, ZipRecruiter or Lyft driver
• Opportunities to supplement retirement income as an online teacher
• How much you can earn by providing handyman services
• Who’s a good fit for a side gig as a fitness instructor or personal trainer
• Why consulting is an ideal side hustle for some retired professionals
• How to earn retirement income by flipping products online
• Making passive income as a vending machine investor

For the resources and to connect with our guests, get the show notes at: https://queermoneypodcast.com/subscribe

Follow us:

• Queer Money Instagram
• Queer Money YouTube
• Queer Money on Tiktok

Download your FREE Queer Money Kickstarter a 9-step Guide to Kickstart Your Journey to Financial Independence

Mentioned in this episode:

Join us in Detroit for Queer Money Bingo!

Queer Money Bingo is coming to downtown Detroit, August 15th at 5:30 pm. There will be free coffee drinks, swag and prizes! Click the link below to RSVP and make sure you bring a friend.

Queer Money Bingo - Detroit - August 15th