Treece Talk Blog

An excerpt from my book, Take Pride In Your Money: LGBTQ+ Financial Empowerment Stories & Strategies, "The 'T' Also Stands for Trust"

Transgender. Gay. Bi. Queer. Straight. Questioning. Two-Spirit. Non-binary. Intersex.

Visibility matters. Identity matters. Because you matter.

It’s not enough to say, “I treat everyone the same.” Because not everyone is the same—and pretending otherwise erases lived experience. In financial planning, this is more than philosophy. It’s practice. And it can be the difference between financial freedom and financial fragility.

Let’s talk trust. If you’re transgender, chances are you’ve had to fight harder than most for basic recognition—let alone respect. So when it comes to finances—one of the most personal, sensitive areas of life—you deserve more than just tolerance.

You deserve professionals who get it.

Historically, the financial industry hasn’t felt like a safe or welcoming place. It's still dominated by straight, white men. As of the latest data, over 76% of financial advisors are white. More than two-thirds are male. It’s no wonder transgender individuals often feel alienated—or flat-out rejected.

But here’s the truth: Trust is the foundation of any good financial plan. And trust requires representation, empathy, and understanding.

Money Is Personal. So Let’s Talk About You

Imagine this: You meet with a financial advisor. You want to talk about saving for top surgery. Or how to financially prepare for a name and gender marker change. Maybe you need to figure out insurance options for hormone therapy. But instead, you feel the advisor flinch. Or they ask invasive, irrelevant questions. Or worse—nothing at all.

Without a strong, safe relationship between client and advisor, it’s impossible to create a truly effective financial plan. Advisors need to understand more than just markets and math. They need to understand you. Your identity. Your lived experience. Your goals.

Being inclusive isn’t just the right thing to do. It’s essential for doing this job well.

The Financial Terrain: Tougher Than It Should Be

Let’s not sugarcoat it—being transgender in America comes with steep financial challenges.

A 2022 study by the National Center for Transgender Equality found that the unemployment rate among transgender individuals was five times the national average. Over one-third live in poverty.

And it’s not just about income. It's about access. It’s about being blocked from opportunity at every turn.

Here's how that plays out:

• Employment Discrimination: Despite legal progress, workplace discrimination persists. Many transgender individuals are underemployed—or excluded entirely.
• Healthcare Costs: Transition-related care can be lifesaving. It’s also often expensive. Even with insurance, out-of-pocket costs can cripple a budget.
• Legal Expenses: Changing your name and gender marker isn’t free. Legal fees and paperwork add up, and many can’t afford the price tag of being correctly identified.
• Housing Instability: Transgender people are far more likely to experience homelessness and housing insecurity. Without stable housing, financial planning becomes a pipe dream.
• Family Rejection: No financial safety net. No emergency backup. Many trans people are cut off from familial support the rest of us take for granted.

These challenges aren’t theoretical—they’re daily realities. And they demand a financial system and professional support network that’s ready to rise to the occasion.

Building a Better Future—Together

So, how do we change the game?

It starts with financial advisors who don’t just serve transgender clients—they advocate for them. Those who take the time to understand the nuance, the roadblocks, and the strategies that make financial planning work for transgender lives.

Here’s what that advocacy looks like in practice:

• Insurance Navigation: Understanding what plans cover gender-affirming care—and how to minimize out-of-pocket costs—is critical. Trans clients need advisors who know how to decode this maze.
• Smart, Value-Based Investing: Many transgender individuals want to invest in companies aligned with their values. ESG (Environmental, Social, Governance) screening lets you invest without compromising who you are. Your dollars can reflect your dignity.
• Strategic Budgeting: Whether it’s saving for medical procedures, legal changes, or an emergency fund, tailored budgeting strategies empower trans clients to set—and achieve—their financial goals.
• Creating Safe Space: Above all, financial professionals must create an environment where transgender clients can speak freely. No shame. No hesitation. Just real talk and real help.

This isn’t just about individual advisors. Financial institutions, employers, and policymakers have a moral and economic imperative to do better.

They must:

• Enforce nondiscrimination protections.
• Offer comprehensive healthcare coverage.
• Provide financial literacy tools tailored to transgender communities.
• Fund programs that fight poverty in trans communities.

You shouldn’t have to fight for the right to exist and for financial security. But here we are. And until systems change, the path forward is carved by people—professionals who care, who advocate, who get it.

The financial planning journey can be empowering, affirming, and even joyful when it centers your truth. You are not a financial risk. You are a financial force.

Take Pride in Your Money: Buy the book

Take Pride in Your Money: Claim the Power of Your LGBTQ+ Dollars

Cultivate a Positive Money Mindset to Get What You Want

The Trans Capitalist: K. Kenneth Davis