Walking Down Wall Street In A Woman’s Shoes
March 19, 2020 by Marcia Mantell, RMA
In 1996 it finally became legal for an at-home-mom to fully contribute to an IRA. Only then could she start to save for her retirement. Twenty years later, women have socked away $83,000 on average, in their 401(k)s that will eventually roll to an IRA. Until 1974, unmarried women (single, divorced or widowed) could not open their own bank account, credit card, car loan, or mortgage without a male co-signer. Today 62% of all new cars are bought by women, and 50% of all single women own their own homes.
It wasn’t until 1978 that women were entitled to maternity leave. Prior to then, there was only “permanent maternity leave.” Women were forced out of their jobs once “they were showing.”
In a nutshell, women were iced out of money, credit, loans, and jobs. But, boy, the ladies have come a long way toward financial savvy. In honor of National Women’s Month, let’s take a walk down Wall Street in high heels. Experience investing and insurance opportunities from a woman’s point of view. See what she sees.