1991:  The Truth About Queer Money: Myths, Stressors, and the Path Forward (Encore)

**Farnoosh Torabi** (0:00)
Hey friends, if you've been sitting on a book idea and wondering could this actually become something, this is your moment. Join me in New York City on October 9th for Book to Brand. This is my intimate full-day immersive designed to help you turn your idea into a clear, compelling, pitch-ready book concept. You will meet the insiders, agents, publishers, and recent authors who can help bring your book to life. Spots are limited and early bird tickets are on sale now. Head to booktobrand.co to reserve your spot. So Money Episode 1991, The Truth About Queer Money, Myths, Stressors, and the Path Forward.

**SPEAKER_2** (0:38)
You're listening to So Money with award-winning money guru, Farnoosh Torabi. Each day, get a 30-minute dose of financial inspiration from the world's top business minds, authors, influencers, and from Farnoosh yourself.
Looking for ways to save on gas or double your double coupons? Sorry, you're in the wrong place. Seeking profound ways to live a richer, happier life? Welcome to So Money.

**Farnoosh Torabi** (1:04)
Is there a myth about queer money that you want to just squash?

**Nick Wolny** (1:11)
Queer people don't make more. They make less. We're not wealthier as a whole. One is that it's a very wide swath of people. It's hard to even make any blanket statements about queer people. I talk about that with the data we have on the LGBTQ wage gap.
It's 90 cents on the dollar. But within that, it varies quite widely between men and women, between white people and people of color, between cis people and trans people, and gender non-conforming people. I think a lot of this ends up getting shaped by media representation. That's why it's important to get that message out there and get that quality information out there and not just have it be the stereotype.

**Farnoosh Torabi** (1:49)
Welcome to So Money, everybody. I'm Farnoosh Torabi. What does it mean to build wealth when the world hasn't always made space for your identity? That's the question at the heart of today's conversation and the driving force behind a powerful new book that's reshaping how LGBTQ plus people think about money, belonging, and the future.
On our episode today, I'm joined by Nick Wolny. He's a longtime personal finance journalist, a columnist for OUT Magazine, and the author of a new book, Money Proud, The Queer Guide to Generate Wealth, Slay Debt, and Build Good Habits to Secure Your Future. He's also a previous guest on our podcast. Today, he's bringing a candid, deeply human lens to the financial lives of queer people, from the emotional and cultural realities that shape money choices, to the systems and habits that help rebuild stability, confidence, and long-term security. He's got his own story, which he describes not as self-help, but as a spiritual reckoning that's woven throughout the book. And he sets the stage for a really honest, energetic, and practical conversation. We talk about the pursuit of belonging and how it can be expensive. We talk about queer joy and how to have that against financial boundaries.
We talk about rethinking retirement because Nick has spent a lot of time covering the FIRE Movement, the Financial Independence Retire Early Movement. And as you just heard, he's got thoughts about myths regarding queer wealth. And then what happens if same-sex marriage protections roll back? Here we go. Here's Nick Wolny.
Nick Wolny, welcome to So Money.

**Nick Wolny** (3:35)
Thanks for having me back. It's great to be here.

**Farnoosh Torabi** (3:37)
Great to have you.
And congratulations. You're back on the show this time as a newly published author. Your book is called Money Proud, The Queer Guide to Generate Wealth, Slay Debt, and Build Good Habits to Secure Your Future. Congratulations, Nick.

**Nick Wolny** (3:56)
Thank you so much. It feels so weird to introduce myself as author. I don't know, like stars in people's eyes. Yeah, because when you say writer, they're like, that's cute. But then when you say author, I don't know, just a few different letters and they're like, ola, so getting used to the excitement of it all.

**Farnoosh Torabi** (4:12)
Get used to it. Get used to it. Let's talk about your personal journey in personal finance. I read the introduction to your book.
I'm still reading through the pages. It's very well-written. I love that you have decided to really focus on the queer community. I think it's a very underserved market that has very unique needs when it comes to personal finance. Your journey has been, you call it, a spiritual journey as an LGBTQ plus person. Can you tell us what that means to you? You're very clear in the book that you want it to not veer into this sense of toxic positivity or this idea of throwaway advice. Because this idea of spiritual journey, it can be an eye-roll moment for some people to hear that phrase. So tell us what you actually mean by that.