We Should All Be Millionaires Summary

What would the world look like if women stepped into their financial power and claimed their right to wealth?

1. The Stories Women Tell Themselves About Money

Many women feel a deep discomfort when discussing money, often believing wealth building is out of their reach. This mindset stems from internalized societal beliefs, such as the idea that making money requires tireless work or that women are inherently bad with finances.

These damaging narratives can have their roots in family dynamics or culture. Women may have grown up seeing their parents struggle despite working hard, and in turn decide they would prioritize relationships and leisure over wealth. Yet, building wealth doesn’t require overexertion—smart investments like stocks, index funds, and real estate allow money to work even when you aren’t.

Another story women internalize is that they don’t need money to be happy. While wealth by itself isn’t the ultimate goal, having financial stability means better opportunities for yourself and your loved ones. Replacing these false stories with empowering self-talk can open the door to creating wealth.

Examples

• Women's investment performance outperforming men: Fidelity’s 2017 study proves women can excel with finances.
• Parents’ struggles led women to associate wealth with exhaustion and sacrifice.
• Many women falsely believe their worth isn’t tied to financial stability, neglecting its real role in freedom and choices.

2. Millennia of Disempowerment Leave a Residue

Historically, women were excluded from the financial systems designed to create wealth. Until the 1960s, women often needed a man’s permission to open a bank account or acquire credit. This legacy creates feelings of inadequacy around financial decisions.

The lack of tools to accumulate generational wealth also affects women. Unlike men who’ve benefited from credit, loans, and mortgages for centuries, women are still catching up. Psychological effects linger, manifesting as self-defeating thoughts that hinder autonomy with money.

Acknowledging this history can relieve guilt or defeatism. Women have made enormous strides in a short span of time, becoming leaders, entrepreneurs, and influential figures. Knowing this ought to inspire rather than discourage your wealth journey.

Examples

• The US Equal Credit Opportunity Act of 1974 finally legalized women’s access to independent credit.
• Women of color still earn significantly less than white men; Latina women make 54 cents to their dollar.
• Despite limited time for progress, women are breaking barriers in business and politics.

3. The Value of Prioritizing Yourself

Women often give too much to others—both at work and home—and leave no time for their own goals. Wealthy women, on the other hand, prioritize their time and set boundaries to focus on what matters most.

One way to do this is by refusing to accept being the default caregiver around the house. Sharing household responsibilities and outsourcing certain chores creates space to explore financial opportunities, like a second income stream.

At work, successful women focus on achieving fair pay and avoid overcommitting without compensation. This balance allows them not only to build wealth but also to model independence and resilience for their families.

Examples

• A mother who delegates tasks to her partner and hires help can use the time saved to start a business.
• Women often sacrifice promotions because they fear neglecting their family, missing financial growth.
• Prioritizing personal downtime instead of relentless caretaking improves both wealth-building time and well-being.

4. The Importance of Workplace Boundaries

Women often find themselves cast in nurturing or helpful roles at work. They’re asked to organize events, provide emotional support, or pick up the slack, taking away valuable energy.

To create financial success and protect mental bandwidth, women must learn to say "no." This may involve declining after-hours emails or refusing responsibilities that go beyond their job descriptions. Setting boundaries not only keeps work in check, but it also demands respect and fair compensation.

Boundaries can be difficult to enforce because women are often socialized to prioritize being likable. Yet research demonstrates that agreeability in women often correlates with earning less. Being assertive is an economic necessity, not a moral failing.

Examples

• Turning down after-hours tasks protects work-life balance for long-term career productivity.
• Studies particularly show assertive women earn more than those perceived as overly accommodating.
• Boundaries teach colleagues to respect both your time and your expertise.

5. Surround Yourself with Wealth Seekers

The people you surround yourself with shape your outcomes, a principle referred to by Harvard psychologist Dr. David Mclelland. To build wealth, women should seek like-minded individuals who inspire and lead by example.

A circle of successful women provides access to insider knowledge on finance and business growth that Google searches can’t replicate. This boosts confidence, motivation, and opportunities to advance. However, maintaining old friendships that offer emotional value is also essential.

Building networks that reflect your identity—like groups of women professionals—avoids the biases often ingrained in male-dominated circles. Such connections emphasize collaborative success, not competition.

Examples

• Female mentoring circles can elevate members through shared financial strategies.
• In male-dominated venture capital, women struggle to gain similar support systems.
• Networking events or online groups supply practical tips and moral support unique to women.

6. Take Charge of Your Worth

Impostor syndrome causes women to undervalue their labor, leading them to accept less pay for their expertise. Changing that mindset starts with recognizing the impact of your work and demanding what you're worth.

Quantifying your contribution reveals the value you provide to businesses, clients, or employers. For example, if a marketing campaign you wrote generates $300,000 in revenue, charging only $1,000 undercuts the real result of your labor. Charging closer to 10% gives you fair compensation.

This applies to negotiating salaries as well. Seek other opportunities if your contributions aren’t being matched. Confidence isn’t arrogance—it’s knowing your worth and insisting on it.

Examples

• Women in creative fields lowballing themselves compared to male peers.
• The author's personal experience increasing her legal fees from $500 to $15,000 with no pushback.
• Employees who know their impact often use metrics to justify raises successfully.

7. Money Is a Tool for Change

Wealth is a source of freedom and security, but it also amplifies impact. Women reinvest a large portion of their earnings into causes that improve communities, generating broader societal benefits.

Research shows women invest in family, children’s education, and healthcare far more than men. Financial stability allows you to powerfully support what matters to you. However, your giving doesn’t have to erase your gains—you should celebrate financial wins guilt-free.

Having wealth also lets women fund movements for equity and justice, creating ripple effects through philanthropy. Money in the hands of proactive women shapes the future.

Examples

• Studies demonstrate women reinvest 90% of their income, while men reinvest only 35%.
• Beyoncé channeling her wealth into hurricane relief and social causes provides a model for financial activism.
• Women with wealth often influence local government and education systems to drive communal progress.

8. Overcome Fear Through Financial Education

Many women avoid handling money because they fear making mistakes. This reluctance stems partly from gendered stereotypes about incompetence in financial settings. But finance is a skill anyone can learn.

Taking steps to educate yourself on budgets, investing, or saving can transform fear into empowerment. Learning doesn’t have to be formal; tools like podcasts, books, or seminars help boost knowledge incrementally.

Most fears are rooted in the unknown. Facing these fears head-on and committing to learning allows women to see wealth-building as practical rather than intimidating.

Examples

• Women investors consistently outperform male counterparts when they actively manage portfolios.
• Workshops offer hands-on tools for managing budgets without requiring complex terms.
• A beginner investing $100 can learn how compounding grows savings over time.

9. Redefine What it Means to be Generous

Traditionally, women are seen as nurturers who put others first. While generosity is valuable, it shouldn’t always come at your own expense. Viewing finances as self-care allows women to give back sustainably.

When women earn more, they can contribute without depleting personal resources. This sustains both personal well-being and broader philanthropic goals. Striking this balance keeps women from burnout while aligning resources with values.

Being financially independent doesn’t mean being selfish. It means having the resources to responsibly support yourself and others.

Examples

• Women overextending themselves often result in less effective giving overall.
• Saving for your retirement gives your family long-term stability.
• Investing in future causes responsibly versus donating beyond means reflects healthy generosity.

Takeaways

1. Replace self-doubt narratives with empowering self-talk, believing in your ability to generate wealth.
2. Protect your time by setting clear boundaries at work and at home, ensuring space for financial growth.
3. Seek networks of supportive, financially successful peers to learn, collaborate, and inspire.