Money Stories is a new series designed to start the conversation about how being LGBT+ has affected our financial lives and hopefully help people feel inspired to talk more openly about money! Share your stories with me at email@example.com.
“Purple” is a black woman who works in marketing and is striving to quit her job this fall and retire at the age of 30. She catalogs her journey to and through early retirement on her blog APurpleLife.com.
When was the first time you thought about money?
I first thought about money when I was 8 and I went to collect the money I was promised by my Mom after doing my chores. I was told I would receive $1 per chore, but instead was given $0.70 and asked my Mom what happened. And that’s when I learned about taxes and FICA payments 🙂 .
What was your “aha” moment with money?
My “aha” moment happened after I finally got my dream job. It had everything I thought I needed in a career to make it fulfilling enough that I would want to do it every weekday until traditional retirement age: autonomy, creativity and flexibility. I got that job and…still didn’t want to fight my way onto a NYC subway car every Monday morning so I decided I needed a new plan. Luckily my partner had mentioned using money to buy freedom far earlier than traditional retirement age. Two years after hearing about that I finally listened.
How has being LGBT+ impacted your relationship with money?
I’m not sure being LGBT+ specifically has impacted my relationship with money. I’m a black woman and so far think that has had a larger impact simply because those are more outward features of myself that you can see just by looking at me.
People of color and women are discriminated against for jobs, promotions and at times home loans simply because of this information, which you see on a resume or application form. I hadn’t considered how my sexuality could play into that, but I am out with my colleagues and since it only just became illegal in all 50 states to fire someone for their sexuality that could have had a large impact on my financial future.
What are your financial goals for the future?
I’m planning to save most of my next few paychecks and then I’m retiring this fall.
Favorite LGBT+ business (online or IRL)?
Babeland…for obvious reasons 😉 .