Insisting on Equal Access to Financial Independence

Before I was exposed to the world of FIRE and 4% withdrawal rules, financial independence had a significant and different meaning for me. It wasn’t a label just for the independently wealthy. It was a label for anyone who could function financially without assistance.

Functioning on my own financially is important to me not just because of pride but also because it means that I can take care of myself no matter what happens.

This sounds basic, like a given.

But it’s not.

Until very recent history, as a woman, I would not have been able to hold a job, or if I did, it would be one in my father’s or husband’s business. If I ventured out to start a business on my own, I might be labeled a witch.

Even if I did start my own business, there’s a strong probability that I would have been required to hand it over to my father or husband to manage. Today, we’d call that financial abuse. But not so long ago, it was just what you did.

Financial independence means that I can make my own decisions about my work, property, family, and relationships. Without the ability to achieve economic autonomy, none of these things would be possible.

There will be times in all of our lives where we’re not financially independent, where we need help from others. That’s nothing to be ashamed of. In these moments of need, we should reach out and get help so that we can recover and become independent again as quickly as possible. If we don’t get the help we need today; we won’t be able to extend help to others tomorrow.

When we’re back on track to economic independence, we’re able to not only manage our lives as they currently are, but we’re also capable of building big, beautiful dreams. Want to own a beach house someday? If it’s a priority,  you can totally start saving for that. Wanted to go to the Outback since you were a kid? Save up some cash and make it happen.

You can do all that because you’re allowed to bring in and manage those dollars independently.

As I mused on my great luck of being born into such a time when all this was possible, I couldn’t help but think of those for whom it is not. I have friends, acquaintances, and family members in various disability communities. Contrary to common perception, having a disability does not always mean that you can’t work; it just means you can’t work in a traditional manner without accommodations. You can make valid and important contributions to this world. In fact, sometimes, you wouldn’t be able to make those contributions without your disability.

Equal Access to Financial Independence

When you’re collecting government benefits–sometimes even something as direly important as your state’s Medicaid plan–you’re not allowed to work past a certain amount. At one point in the past few years, the most you were allowed to bring in monthly was somewhere between $700 and $800. Again, in some states, if you earn more than that, you’ll lose the health insurance that, in some cases, is literally keeping you alive.

So you’re forced into poverty. You learn to get by on what little you have–a few hundred in income, Social Security benefits, maybe insurance payouts depending on if you had a disability policy or not.

There is no pathway to financial independence.

And that’s not okay.

As a woman, there are still hurdles in my pathway. But there is a road to pursue. As we work to take down the barriers we face as female residents of this country, like the wage gap, investment gap, and the unfair distribution of both domestic and financial responsibilities based on gender, let us also remember to make sure everyone has access to the road.

What does Financial Independence mean to me? #InternationalWomen'sDay Click To Tweet


March 8th is International Women’s Day. To celebrate, I got together with some fab personal finance bloggers to arrange a blog tour. Each one of us answered the question, “Why is financial independence important to you as a woman?”

To read more amazing blog posts answering this question, click here. 

International Womens Day

2 thoughts on “Insisting on Equal Access to Financial Independence”

  1. I love the idea of a “blog tour.” I’ve never heard of that before. What a creative idea?! Also, I love anything that has some tidbits of history. I can’t imagine handing over a business to brothers or dad. How absurd!

    • It’s crazy how little financial freedom was given to women! We have to be grateful for what we have and work to help those who don’t have the same freedom we have.


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