PHOTO: Property Investment
In the recently released book Lady in Waiting, former Royal Aide Anne Glenconner describes her life born into a family of status and wealth.
From being an attendant at the Queen’s coronation to joining her husband in establishing a private island resort for the rich and famous, Anne enjoyed a privileged, albeit sometimes confronting life.
However, being born into aristocracy at the turn of the last century meant there was a catch. Because she was female, Anne had no entitlement to her family’s estate. What’s more, when her husband passed away she received the shocking news that he had left their entire fortune to someone else in his Will.
Luckily, Anne had owned a single property in her own name, which she was able to retire to when everything around her collapsed.
This may seem like a startling story but it is one which is repeated in many similar ways around the world. Too often, women find themselves depending on others to maintain a sense of financial stability. When the people they rely on leave or lose their money, there is nothing to fall back on.
Your financial independence always matters
Lately, there has been a great deal of talk about ‘sexually transmitted debt’ and people, particularly women, finding themselves in financial hot water because they weren’t aware of their partner’s spending habits or mounting debts.
There are also statistics that women over the age of 50 are the fastest-growing demographic when it comes to homelessness in Australia. After raising children and being out of the workforce, these women find themselves with no financial stronghold when their partner passes away or their marriage falls apart.
As someone who has always had goals around finance and personal security, it surprises me how few of my own friends have a clear idea of how much money they have right now, let alone how they will use it to create a secure future for themselves. This is why I am motivated to educate others about the power of property investing and why it’s time to stop leaving things to the boys.
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