Individual participation in the stock market through 401(k)s helped fuel the go-go days of Wall Street in the 1980s and birthed asset management juggernauts like Fidelity, Vanguard, Pimco, BlackRock, and dozens of others.

In the 1880s, women were decades away from earning the right to vote. Few owned property - if they were even permitted to do so. In addition to childcare obligations, many toiled in work that was either underpaid or not paid at all. Essentially, the gears of progress for women were moving slowly in just about every arena of life.

Throughout the Great Recession of 2008, the average 401(k) balance lost anywhere from 25 to 40 percent of value. Nobody was more harmed than baby boomers or recent retirees, who, unlike younger workers, didn't have the time for the market to rebound or were no longer contributing and therefore unable to invest when stocks were cheap.

Mary Pilon Quotes