Why Most Women Are Locked Out of Wealth (And How to Break Free)

Behind every pay gap statistic and every story of financial struggle lies a history that is rarely told. For centuries, women were legally and socially excluded from the world of wealth. In the United States, it wasn’t until the 1970s that women could open their own bank accounts or access credit without a man’s approval. The legacy of these restrictions is still felt today, as women continue to earn less, save less, and retire with less than men. For Black, Latina, LGBTQ+, and plus-size women, the barriers are even steeper, with wage gaps that widen and opportunities that shrink.

Rachel Rodgers, in 'We Should All Be Millionaires,' pulls back the curtain on these systemic barriers, urging women to forgive themselves for any perceived financial shortcomings. After all, how can you win a race when you started miles behind the starting line? The first step to breaking free is recognizing that the game has been rigged—and refusing to internalize blame for the obstacles you face.

The gender pay gap is not just a number; it compounds over a lifetime, affecting everything from home ownership to health care. Intersectional discrimination means that a Black woman may earn just 62 cents for every dollar a white man makes, and that gap widens with each generation. But Rodgers offers hope: by understanding the systems at play, women can strategize, organize, and demand more.

Practical steps include joining or forming supportive communities, seeking out mentors, and advocating for policy changes that benefit all women. Rodgers also encourages women to practice self-forgiveness and to recognize their resilience. The journey to wealth is not just about dollars and cents, but about healing, solidarity, and courage.

Change is possible—one bold move at a time. By understanding the roots of inequality, supporting one another, and demanding systemic change, women everywhere can begin to build the wealth and freedom they deserve.