Women and wealth: Historical milestones and the roadmap ahead

Swiping a credit card, clocking in at work, taking out a mortgage—all seemingly mundane tasks now were new liberties for women in the U.S. just sixty years ago. As we celebrate Women’s History Month, it’s important to reflect on the major milestones that paved the way and recognize the work ahead to achieve financial equity for all.

What you'll learn

• Past Milestones
• Present Landscape
• Future Opportunities

Past Milestones

To appreciate today’s gains, we need to revisit past breakthroughs that made this progress possible. Here are some key events that helped change social norms and the economic landscape for women.

• 1862: Homestead Act – Granted heads of household, including women, 160 acres of public land for settlement with a small fee and a five‑year conditional agreement to cultivate the land for agricultural purposes.
• 1882: First women’s‑specific banking department – Established within The First National Bank of Chicago, this carved out a designated space for some women.
• 1903: First U.S. woman‑owned bank – Chartered by Maggie Lena Walker, the St. Luke Penny Savings Bank was committed to empowering the African American community through financial independence.
• 1915: Women filling workplace vacancies – As men were drafted into major U.S. conflicts, including World War I and later World War II, women assumed and created jobs across critical industries.
• 1919: 19th Amendment – Ratified in 1920, this granted some women the right to vote while leaving many women of color disenfranchised.
• 1938: Fair Labor Standards Act – Enforced minimum wage requirements, overtime pay, record‑keeping, and child labor laws.
• 1963: Equal Pay Act – Outlawed sex‑based wage discrimination, laying the foundation for equal pay for equal work.
• 1965: Voting Rights Act – Prohibited race‑based discrimination, effectively allowing all women to vote freely.
• 1974: Equal Credit Opportunity Act – Allowed women to bank independently, prohibiting denial of credit or unfavorable terms and enabling them to apply for and use credit cards, mortgages, and car loans.

Present Landscape

These milestones have paved a promising path for women to achieve greater financial success. Two‑thirds of women are considered the sole or co‑breadwinners of their family, according to the Center for American Progress, and women oversee one‑third of their household’s financial assets, according to a McKinsey report.

It’s no surprise when you consider the acceleration in educational attainment. For example, women earned just 9% of bachelor’s degrees in 1971 but had outpaced men by 2021, skyrocketing to 58%. Women also hold 10% of CEO positions among Fortune 500 companies, with approximately one newly appointed per year since 1972.

Yet this momentum has stalled in certain areas. Women have continued to earn $0.82 on the dollar since 2002, according to the Pew Research Center. As of a 2026 U.S. News survey, 48% of women reported having no emergency savings, compared to 33% of men. Mothers, particularly, have been hard hit following the COVID‑19 pandemic, with 20% citing childcare issues as their reason for not returning to work (compared with less than 5% of fathers). Disparities in race, ethnicity, and income level only widen these gaps.

Future Opportunities

But the pangs of progress continue to show glimmers of hope on the horizon. By 2030, women’s investable assets are projected to double through generational gains, with women expected to control about $34 trillion in wealth. Other factors contributing to this momentum include women’s longer lifespans (about five years longer than men’s), their increasing participation in the stock market (71% of women invest), and their adherence to long‑term financial plans (approximately 66% of women).

For this Women’s History Month, we’re here to celebrate all the achievements and hardships thus far—forming a throughline of ownership, wealth, and independence—and to anticipate the wins to come. Because success is clearly written in the stars or, more accurately, in the stocks and shares for women.