What Should Gay Men Look Out For When Investing?

Investment Strategies for Gay Men

Joshua Kennon, About.com Guide to Investing for Beginners, answers questions gay men have about investing and saving money.

I asked: What should gays look out for when investing?

Joshua says: The great thing about investing and business in general is that it is the embodiment of a meritocracy- based society. If you do the right things and are disciplined with your capital, it doesn’t matter if you are gay or straight, black or white, male or female, Christian or agnostic, formerly educated or a dropout, you will end up building wealth and getting your hands on enough money to live the life you want.

A lot of this is because stock certificates can’t discriminate. Even at the apex of the ugly racism in the American South during the first part of the twentieth century, a young black family might not have been able to find comparable pay for good jobs or even be deemed worthy enough to drink out of a “whites only” water fountain, but the dividend checks that showed up on their shares of the Atlanta-based Coca- Cola or Sun Trust bank stock was just as equal to any white family in the nation. Ownership is power and can bring a great sense of pride and independence.

So, I’m glad that the answer to this question for the most part is "no." The real dangers, unfortunately, in some parts of the country for gay singles and couples are mostly professional. For those who work at a power plant in the middle of Kansas and hope to work their way up, there’s a chance that if you are honest about who you are, it’s going to damage your career as you are held back from promotions or pay raises due to purposeful (or perhaps more often, deeply ingrained subconscious) discrimination. Coworkers and a boss can discriminate; your portfolio won’t.

More Investing Questions:
Are bad economic times a good time to invest?
Where should beginning investors start?
What about gay couples looking to invest together?
What's the one thing beginning investors should know before they start investing?
Should gay men invest in companies that discriminate?
How can a person calculate their personal level of risk when it comes to investing?