Women, Money, and the Right to Invest

Most of us have seen the women in our lives live longer than the men. Personally, it’s been more than a decade since my grandpa passed, but my grandma is still here, happily kicking it with her great-grandkids.

The fact that women live longer than men is probably lost on most of us. But since it’s Women’s History Month, I’ve seen that statistic pop up in one too many posts. It made me think more deeply about what that actually means for us, women.

In the United States, women live about five to six years longer on average [1].

At first glance, that sounds like great news. But when you look at it through the lens of money and investing, it raises a simple question:

More years means more expenses. Our money simply needs to last longer. The conclusion seems obvious: women should invest early and often.

Here is something fascinating. For most of human history, women weren’t even allowed to manage money in the first place. The ability many of us have today to earn, save, and invest independently is actually a relatively recent development.

And honestly? It’s pretty freaking awesome!

Let’s take a quick walk down memory lane.

A Very Short History of Women and Money

For much of history, married women had very little financial independence. In many legal systems, a married woman’s wages, property, and even inheritance legally belonged to her husband.

Yes, even money she earned herself. Things started to change in the 1800s.

1839: Women Could Finally Own Property

• One of the earliest financial rights victories came through the Married Women’s Property Acts, beginning in 1839. These laws allowed married women to own property and control assets in their own name instead of everything automatically belonging to their husband.

That might sound obvious today. But at the time, it was revolutionary. For the first time, women could legally hold wealth.

1920: Women Could Vote

• When the 19th Amendment was ratified in 1920, women gained the right to vote [2].

At first glance, voting might not seem like a financial milestone. But it absolutely was. Voting meant women could influence laws about work, wages, banking, and economic policy.

Political voice eventually translates into financial power.

1963: Equal Pay Became the Law

• In 1963, the Equal Pay Act made it illegal to pay women less than men for the same job under the same conditions [3]

The gender pay gap didn’t disappear overnight. And we all know it still exists today. But this law established something important:

Women’s work had legal economic value.

This next one always surprises people.

The 1960s: Women Could Finally Open Bank Accounts

• Until the 1960s, many women could not easily open a bank account in their own name without a husband or male relative. Imagine earning money… and still needing permission to deposit it. Financial independence was still incomplete.

Then came one of the biggest milestones of all.

1974: Women Could Finally Get Credit

• The Equal Credit Opportunity Act of 1974 made it illegal for lenders to discriminate based on gender [4].

Before this law, women were often denied credit cards, mortgages or business loans unless a husband or male relative co-signed.

1974 is not ancient history. That’s within the lifetime of many women alive today.

1988: Women Could Finally Access Business Loans

• Another major step came with the Women’s Business Ownership Act in 1988. This law removed requirements that women have a male co-signer to obtain business loans. It also helped create programs supporting female entrepreneurs.

For the first time, building a company became structurally easier for women.

Today…

Zooming out of the historical picture, many of the financial freedoms women enjoy today are less than 50 years old.

The ability to:

• open a bank account

• apply for credit

• own property

• build businesses

• invest independently

…all exist because generations before us fought for those rights. Activists. Lawmakers. Women who refused to accept the status quo. They pushed open doors that many of us now walk through without even noticing.

So now that we can earn money…
now that we can invest…
we probably shouldn’t waste the opportunity.

Especially if we’re likely to live longer. If longevity is on our side, the real advantage isn’t just living longer, it’s letting compounding work longer too.

Honoring our Pioneers

Women’s History Month is often about celebrating the pioneers who broke barriers. But there’s another way to honor them. By using the rights they fought for.

Earn boldly.
Invest early.
And let your money compound for decades.

With lots of love,
Your godmother Ada