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About Just out. (Portland, OR) 1983-2013 | View Entire Issue (Sept. 5, 1997)
ju s t out ▼ September 5, 1 9 0 7 ▼ 2 7 S ittin ’ P retty , , If you plan it right says one author the economic foundation you yve laid will do the earning for you in later years by Gip Plaster y coming out of our closets, we may not realize that we are coming into financial situations unlike the ones we see modeled by the straight com munity. We aren’t necessarily worse off financially—or better off—we’re simply dif ferent. Gay and lesbian people are accustomed to being different, but Gay Money, a new book by Per Larson, takes a look at how our lives vary B ooks In our 60s, if we planned, our investments earn our money for us. As we enter our 70s, we turn toward a less self-centered attitude and “find what we have to give back to life.” It is important to point out that Larson gener alizes his approach to defining lesbian and gay finances into a decade-by-decade approach that may not fit the way everyone’s life progresses. If you can get past the generalizations, the analysis is good and the advice is worth reading. The book is also filled with vignettes from the lives of his clients. At least some of them apply to everyone. Larson, who specializes in counseling people impacted by HIV, includes chapters in the book about how illness affects financial health, and about the financial situations of “surprise survi vors,” those who thought death was imminent but who are still alive because of medical advance ments. There’s a chapter called "Double Differ ences” about issues that are specific to lesbians. He also discusses being unmarried with children and how being gay or lesbian affects taxes. The book is easy to read and is broken down into quick-to-skim sections that allow readers to focus on the parts of the book that most apply to them. This helps correct the generalizing that was financially from the so-called norm, something with which we may not be familiar. It looks at the financial advantages and disadvantages of being gay or lesbian. In his book Larson says the story begins in our teens, when straight kids experiment with life and discover who they are. But gay teens are often confused; the exploration and self-discovery are delayed until the 20s for many of us. In our 20s, we choose to deal with life in one of three ways, he says. Some of us physically segregate ourselves by moving ------------------- into specifically gay and les bian neighborhoods. Others as similate—that is, hide behind a straight facade. Still others man age to carefully negotiate ac ceptance of their orientation in the straight world. Many gay people come out and begin spending extrava gantly in their 20s, but he says this is a crucial opportunity to start saving. It is more impor tant for lesbian and gay people to begin saving early, because discri mination may cut short our climb up the career ladder. After saving money during our 20s, laying a financial groundwork of investments in our 30s should come next, he »*v> -• «'<*!... • ■ says. “One reason the 30s are so good for investment is that they’re one of the two ‘smooth’ epochs of our lives when we YOUR PERSONAL GUIDE can get a lot of financial ground work done—the other being the TO SAME-SEX 50s,” he writes. STRATEGIES FOR He says many of us don’t start investing early because FINANCIAL SECURITY, when we reach our 30s we “have STRENGTH, AND SUCCESS a hangover from the 20s.” In our 30s, we try to hold onto the ▼ ' ▼ ▼ T V extravagance the previous de PER LARSON cade helped us discover. “Plus, adult-youths are vir tually all we see in gay publications and gay probably necessary to create a work with an culture. All this makes leaving the 20s tough,” audience wide enough to find a publisher. Larson writes. While the stages of life progress differently When we find ourselves in our 40s, our straight for us than for those whom Larson calls “the 90 counterparts may be reaching the height of their percent,” the overall lesson is that same one careers, but they are also getting suspicious of financial planners have tried to teach straights for why we haven’t married. As we remain unmar years: Kick the frivolous spending habit and be gin saving early. ried through our 40s, we drift out whether we want to or not. Whether or not we encounter career discrimi Discrimination can mean that we reach a point nation or other pitfalls of being gay, we don’t in our careers where “we are economically penal want to be caught off guard by a desperate finan ized for being gay,” whether we are “harassed, cial situation at the end of life. Larson also en passed over, sidelined or downsized.” As we courages us to take advantage of the benefits of reach that “lavender ceiling,” Larson says, we being gay, so that we can be financially secure throughout our lives. may want to start a business of our own. That’s something we can do if we’ve been saving and investing. Gay Money by Per Larson. Dell Whatever happens in our 40s, we harvest the Publishing, 1997; $12.95paper. bounty of that hard work in our 50s, Larson says. Knotty & Nicé. Trocadero Sofa & Club Chair From modern retro to provincial rustic, our home furnishings offer timeless and unique styling for every room in your home. Rustic Storage Trunks Futons <S l Furniture Delivery available ~ 90 days same as cash D o You K n o w ...? W hich company has been the largest con tributor to B r e a s t C a n c e r R e s e a r c h for the last 5 years? W hich company was the first cosmetics firm to halt a n im a l te s tin g ? 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