The following are excerpts from a study done by Linda M. Woolf from Webster University--for complete report go to:       https://www.webster.edu/~woolflm/oldergay.html
As this was done in 1998 many things, sadly, while some things have changed, most haven't.
Gay and Lesbian Aging
Linda M. Woolf, Webster University
Estimates range from 1.75 to 3.5 million older gay men and lesbians in the United States.
Many myths and negative stereotypes exist
The
image of the older gay man or lesbian as depressed, isolated,
desperate, and sexless is prevalent. This image, however, does not hold
up empirically .

While
many aspects of aging appear to be universal, research on gay and
lesbian aging has demonstrated several specific positive and negative
effects of aging as a gay man or lesbian.

Many
heterosexuals go through life never experiencing active discrimination.
When hit with ageism, they must reevaluate who they are in the face of
societies stereotypes. 
Older gays and lesbians have had to deal with discrimination and negative stereotypes throughout most of their lives.

 
If
this has been dealt with successfully, they have been found to have
developed greater self-acceptance and self-confidence affording them the
skills to deal with the stigma of aging successfully.
Bell and Weinberg found that lesbians and gay men were more likely to have a network of close friends than heterosexuals.

 
As
the community of friendships is important to the gay and lesbian,
throughout the life-span, they are not dependent on family for their
emotional support and needs .
Gays and lesbians are much less likely to experience an "empty nest syndrome"  
the community affords older gays and lesbians the opportunity to meet new people and socialize .
 
Gay older individuals have the opportunity to socialize with a wide range of individuals, young and old.
Work
relations usually do not make up the majority of personal contacts
outside the home for the gay and lesbian. Thus, upon retirement, the
network of friends that the gay or lesbian has made remains relatively
unchanged .
the threat of loss of job on the
basis of sexual orientation is a constant source of concern for many
individuals. Thus, retirement can be seen as an event freeing them from
some of these concerns.
Gay individuals find that retirement affords them the opportunity to be more involved socially and politically than before as disclosure as a homosexual is unlikely to eliminate their financial livelihood.
Many
of the negative results of being a gay man or lesbian on aging can be
related to the negative aspects of being gay or lesbian at any point
across the lifespan.

Four factors seem to be of particular concern for the older gay man  
 
 the
health care system has been traditionally unresponsive to recognizing
the existence of homosexuality--services are aimed at a heterosexual
population.
Homosexual partnerships are often not
recognized to exist even though the individuals may have been involved
in life-partner situations for many years. (Thankfully this has changed!)
Third they
wish to live in communities that are either predominately homosexual or
at least, a community that is sensitive to the needs of the older gay
man.   These options are limited.
 
Lastly,
the individual who "comes out" or explores their same-sex orientation
for the first time as an older adult has few resources to meet people or
adjust to their reorientation.
 
Much of the current research has been conducted on white, formally educated, middle class gay men .
Second,
a heterosexual bias pervades the literature. For example, the motives
of the researchers studying homosexual relationships generally reflect a
desire to present lesbian and gay men relationships as comparable and
as common as any other heterosexual relationship .
In other words, the heterosexual standard is something the homosexual is supposed to emulate .
Very few studies include or examine solely the individual over 60.Finally, no studies have been conducted on the frail elderly as this remains an extremely hidden population.
Many
very old gay men or lesbians may never have defined themselves as
homosexual. For example, two women may have been coupled and simply
defined their relationship as roommates.

https://www.webster.edu/~woolflm/oldergay.html