Sage, the country’s oldest organization dedicated to LGBTQ+ elders, is launching a free financial wellness app called SAGECents on August 14 to better help seniors who may be having a hard time during the pandemic, Sage announced on its website.
Seniors are considered to be at a higher risk for COVID-19 complications, according to the Centers for Disease Control (CDC), which may also increase social isolation and economic insecurity. “This reality is especially pertinent for Black and Latinx LGBT[Q] elders, as these communities are at a higher risk for COVID-19,” noted Sage in an announcement. In partnership with LifeCents and Wells Fargo, the program wants to help elders stay safe and inside of their homes if necessary, while also providing financial education specific to their needs and fostering a community they can turn to for peer-to-peer advice.
“The realities of COVID-19 and the related economic fallout 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.”
To learn more about the app, check out SAGECents.