Gays More Likely to Be Millionaires

A 2016 study shows gays and lesbians are more likely to have a net worth in excess of $1 million compared to the average American adult.

There's been a lot of debate over the true spending power of LGBT people and many theories have been proposed as to why gays and lesbians have more discretionary income than straights. After all, most adult LGBT people don't have the same financial obligations as our heterosexual counterparts, such as children. For LGBT people that do have children, greater spending power is only a myth as reported in the news story about gay minority parents having less income than heterosexual parents. However, a 2016 Financial Planner LA study sheds new light on the wallet size of all gays. 

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Boy is that wrong.... at least according to me!