Gay Money: Your Personal Guide to Same-Sex Strategies for Financial Security, Strengthand Success [Paperback]

Per Larson (Author)

Book Description

Publication Date: May 12, 1997

Same sex, different dollars.

How can being gay generate financial advantages?  How can it sabotage your dreams?  If you're like most gay men and lesbians, you might have some vague idea that the laws and tax codes place you at a financial disadvantage compared to your straight contemporaries.  But it is less likely that you know how to benefit from unseen advantages that are yours for the seizing--once you know that they are there.

Practical, authoritative, and uniquely empowering, Gay Money explains how and why our financial opportunities and problems are different from the married-with-children majority.  Drawing on a personal-finance practice devoted exclusively to gay men and lesbians, Per Larson offers you the tools you need to understand and maximize each decade of a financial gay life, while addressing such vital topics as:

*What early career moves give us the most advantage--and how to avoid corporate lavender ceilings

*What insurance we absolutely need to protect our legacy, our lovers--or our independence

*Why our relationships are financially different from conventional marriages--and how we can turn that to our benefit

*Pitfalls and scams we're particularly prey to

*How we can ensure our retirement with only one decade's earnings

*How we can face the costs of HIV and safeguard our assets against financial ruin.

Your guide to turning financial reality into your personal dreams, Gay Money is a long-awaited asset for your own gay balance sheet.

Editorial Reviews

Amazon.com Review

Per Larson knows that money makes the world go 'round, and he's tired of watching the gay community running to catch up. In Gay Money, he tackles the financial problems and overlooked opportunities facing gay America. The first part of the book highlights the money-related pitfalls common to certain decades of a gay person's life, and the reparative actions that can be taken. Short, real-life examples are used to illustrate coming out and partying in one's 20s, the financial wake-up call of one's 30s, and the possible stability of one's 40s. Larson offers advice on such topics as coming out at work, breaking out of the gay ghetto, legal protection for sharing arrangements, coverage of assets and final wishes, and which gay-related organizations are worthy of your contributions.

The second part of the book tackles more general financial obstacles and surfaces some perhaps unforeseen opportunities to hurdle them. While the broad strategy to financial success is not so different for gays and lesbians (referred to in the book as "the 90%") than for straights (invest early, plan for retirement, spend disposable income wisely, buy real estate), Larson takes great care in illustrating what distinguishes the experience of gays and lesbians from that of straights. He covers the laws and tax codes that often place gays and lesbians at a financial disadvantage; he also addresses access to assets that married heterosexual couples with children do not have.

Despite a great effort to be evenhanded, the book is male-focused. One of Larson's key ingredients for gay financial success is the absence of dependent children or spouses--an approach that does not take into account past straight relationships or simply a desire to have children and financial independence. While there is a section on breast cancer, HIV takes obvious precedence when talk turns to financial health and illness. Also, the lack of an index is an especially noticeable missing element. Regardless of these gripes, the book is an empowering how-to in combating the social, political, and economic barriers that repress gays and lesbians. Success, of course, is the best revenge. --Manine Golden

From Library Journal

Larson, a New York-based financial advisor, offers this financial primer for gay men and lesbians on how to manage their money. In the first section, which looks at how gay people get money, spend it, save it, and invest it, he points out that since many gay people will not have any children, they may find themselves with discretionary income. Unfortunately, a lot of people wind up spending it instead of saving it, with sometimes tragic results later in life. Larson stresses the need for "risk management" in looking after personal finances, offering commonsense tips on preparing a budget, putting money aside in a systematic savings plan, and making investments. In the second section, Larson looks at "gay issues" such as health and disability insurance, merging the finances of gay couples, paying taxes, preparing wills, and handling probate questions. Throughout, he provides examples that may seem hypothetical but effectively illustrate his point that gay men and lesbians have to save and invest for the long term?not only for security but to empower themselves. This practical road map for achieving financial success is recommended for larger public libraries and all gay/lesbian collections.?Richard S. Drezen, Washington Post News Research Ctr., Washington, D.C.
Copyright 1997 Reed Business Information, Inc.

See all Editorial Reviews

Product Details

• Paperback: 288 pages
• Publisher: Dell (May 12, 1997)
• Language: English
• ISBN-10: 0440507995
• ISBN-13: 978-0440507994
• Product Dimensions: 8 x 5.2 x 0.8 inches
• Shipping Weight: 8.8 ounces
• Average Customer Review: 2.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #3,242,613 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

7 of 9 people found the following review helpful:

1.0 out of 5 stars not for lesbians or gay men not on the party circuit, February 24, 2001

By 

stephanie scott (san francisco, CA USA) - See all my reviews

This review is from: Gay Money: Your Personal Guide to Same-Sex Strategies for Financial Security, Strengthand Success (Paperback)

he makes many inappropriate assumptions about the gay community which made it even harder for me to trust his advice. he assumes that no gay or lesbians have children, have parents or relatives, and all have a drug problem. Therefore we are all well ahead of the game financially without children, we shouldn't buy homes because we have no family or ties to an area so we can all move at the drop of a hat to further our careers, and that if we just stopped our drugs we'd be all able to save more money. never once did i see any concrete advice. the whole book is about the psychology behind gay spending and lack of savings on the party circuit.

0 of 1 people found the following review helpful:

4.0 out of 5 stars A good starter book, August 14, 2001

By 

Tim Browning (Alpharetta, Georgia USA) - See all my reviews

This review is from: Gay Money: Your Personal Guide to Same-Sex Strategies for Financial Security, Strengthand Success (Paperback)

I liked this book in general and I learned a few things. If you are very sophisticated about financial matters, you may not learn anything new here except, perhaps, the need for special protections for gay persons with regard to estate planning and estate management. Gay money is, after all, still just money. But here you can see it in a context where it can be the target of intolerance, greed, dishonesty, and the bigotry of ignorant and uncaring homophobes. The protection of assets in such a hostile social context is challenging. It's good to know where to start.