Financial News

SAGE and LifeCents Partner on Financial Wellness Program for LGBT Elders

SAGE’s custom program from LifeCents offers financial literacy assistance in response to unique challenges caused by COVID-19

SOURCE: Wells Fargo

DESCRIPTION:

NEW YORK, August 17, 2020 /3BL Media/ -- 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. This program was created to ensure LGBT elders have access to resources that will support their financial literacy and stability. The digital wellness platform, created with support from the Wells Fargo Foundation, will help SAGE constituents navigate the unprecedented economic environment resulting from the COVID-19 pandemic.

SAGECents aims to combat the difficulty of navigating economic uncertainty, especially at a time when access to a number of services and opportunities for LGBT elders is limited. With LGBT elders at the epicenter of the pandemic – due to their age, higher instances of vulnerable health conditions, and increased social isolation – community members are currently experiencing greater instances of economic insecurity. 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 financial stability and reduce 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.”

Along with the crucial resources this program will provide, SAGECents will also offer opportunities for social connection, encouraging peer-to-peer support around crafting workable strategies for financial health and sustainability.

“I worked for 40 years as a social worker, living paycheck to paycheck, doing the best I can. Now that I’m retired, I’m doing better, but still need some guidance and direction,” shared Donna Sue Johnson, SAGE constituent and SAGECents user. “The app really helpe­d validate how I’m feeling and gave me a road map on how to get to where I want to go.”

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SAGE is the country's largest and oldest organization dedicated to improving the lives of lesbian, gay, bisexual, and transgender (LGBT) older people. Founded in 1978 and headquartered in New York City, SAGE is a national organization that offers supportive services and consumer resources to LGBT older people and their caregivers. SAGE also advocates for public policy changes that address the needs of LGBT elders, provides education and technical assistance for aging providers and LGBT community organizations through its National Resource Center on LGBT Aging, and cultural competency training through SAGECare. With staff located across the country, SAGE also coordinates SAGENet, a growing network of affiliates in the United States. Learn more at sageusa.org.

Christina DaCosta SAGE 917-553-3328 cdacosta@sageusa.org  

KEYWORDS: lifecents, sagecents, SAGE, Wells Fargo, COVID-19, finacial wellness, LGBT, LGBT elders

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