When Mattel launched the first Barbie Dream House in 1962, single women couldn't obtain a mortgage for a real house. (The law banning credit discrimination was introduced in 1974.) Interestingly, Barbie's abode lacked a kitchen but was fully stocked with a stereo console. She wore stilettos, but not an apron. Hmmm…
Fast forward. The new Barbie movie is shattering records and breaking stereotypes with tongue-in-cheek audacity. Single women now own more homes than single men. Reflecting on my first flight to Chicago in 1968, I paid $21 for a student standby ticket using my AA Wayfarer Card (which expired on 10/31/73). I enjoyed showing that card to the captain of the last American Airlines flight I took in July 2023 - a woman captain.
Much has changed over fifty years, but much has not. Women remain significantly underrepresented in the investment space.
We have a right to be skeptical of initiatives that offer women "special treatment." Some attempts have been patronizing, trying to separate women from the smoke-filled back rooms where the "real deals" are made.
From kitten heels to combat boots, the Barbie doll has reflected women's progress towards equality in all areas of life. Women still face daunting financial challenges – such as single parenthood, getting the short end of the divorce stick, outliving their life partners and possibly their portfolios. Yet, they possess the same analytical acumen and earning potential. Go, girls!
So, AAII's latest "chapter" is a community SIG – Women Investors. Please join us on the next leg of the journey, wherever you live. Men are welcome, too - we wouldn't want them to miss out on all of the discussion. Coffee, tea and more!
Hollis Wagenstein-Hurturk
AAII Chapter Liaison