LGBTQ elder support group SAGE creates finance app

Photo: Fotoholica Press/LightRocket

By Richard Hack

SAGE, the world’s largest and oldest organization dedicated to improving the lives of LGBT elders, partnered with LifeCents to develop and launch SAGECents, a unique version of the app built specifically for LGBT elders.

LifeCents is a program designed to analyze and improve users financial help. SAGE, with financial support from the Wells Fargo Foundation,  created its own customized version of the program to ensure LGBT elders have access to resources that will support their financial literacy and stability–particularly crucial in this unprecedented economic environment resulting from the COVID-19 pandemic.

SAGECents aims to combat the difficulty of navigating this economic uncertainty, especially at a time when access to a number of services and opportunities for LGBT elders is limited.

Unfortunately, LGBT elders find themselves at the epicenter of the pandemic – due to their age, higher instances of vulnerable health conditions, and increased social isolation. This reality is especially pertinent for Black and Latinx LGBT elders, as these communities are at a higher risk for COVID-19.

With SAGECents, LGBT elders will receive accurate and current information and resources, including helpful tools, to increase their financial stability and reduce their economic stress.

“The COVID-19 pandemic has created an extraordinarily volatile and challenging economic environment that has highlighted the extreme financial fragility of many in our country, not least of all being LGBT elders,” said LifeCents Founder and CEO Blake Allison. “SAGECents is a vital step in better serving LGBT elders in these unprecedented times. We are inspired to be working in partnership with the incredible team at SAGE to advocate and drive impact for the LGBT community and thankful for Wells Fargo’s generous support.”

“The realities of COVID-19 and the related economic fall-out have created a whole new set of challenges for LGBT elders, whether it’s the reduction or elimination of supplemental retirement income, or the need to pay out of pocket for food that is regularly provided by meal programs that are unable to continue operating,” said Lynn Faria, Executive Vice President of SAGE. “SAGECents is a way for our LGBT elders – particularly Black and Brown members of the community – to access personalized financial guidance and resources from LifeCents that will directly address their unique needs and help build financial confidence and security in the face of COVID-19.”

CLICK HERE to access the app.

Richard Hack is an award-winning author and journalist. He Is LGBTQ Loyalty Holdings' Vice President of Content and Executive Editor of lgbtqloyalty.com.

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