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It’s an ugly, inconvenient secret. While female real estate agents are common today, there are comparatively few women real estate investors. And that’s a problem.
It’s an ugly, inconvenient secret. While female real estate agents are common today, there are comparatively few women real estate investors. And that’s a problem.
Recent research shows older women are the fastest-growing homeless group in Australia. Roughly 240,000 women aged 55 or older together with another 165,000 women aged 45-54 are skating around from friends and family members’ couches. They are homeless. The bigger question is ‘how can this be avoided?’
Paralysis By Analysis
True, the investing world, whether it’s property, or the stock market can be intimidating. There’s loads of jargon to master. And women are so conditioned to ensuring we have read and absorbed every possible piece of pertinent information before we commit that we often fall prey to information paralysis.
But the reality is, failing to act is costing women dearly.
It’s even worse when you consider the magical power of compounding interest and the tax advantages of investing in real estate which they are also missing out on.
Why do some women lack the confidence to start investing?
Getting Property Right
So, the simple answer is that when you get your first investment property purchase right, you’re setting yourself up for a secure future and positioning yourself to buy your next investment property. But you need to get it right.
Get it wrong and you will be stuck with owning just one property or even worse, risking your financial future. Here’s where it definitely pays to get educated around investing so that you understand how to build a portfolio that works for you.
Sitting On The Fence
By playing it safe and keeping most of their money in low interest-paying savings accounts rather than looking to invest it, women are missing out on opportunities to create wealth and secure their futures.
Getting Started
Work and family commitments can make it hard for women to find the time to learn the investment ropes. So, where should women start on the investment path? Baby steps. Baby steps.
Make your financial wellness a priority. Make time to subscribe to a podcast here, read an article or a book there. Gradually build your familiarity with property investing. You’ll be pleasantly surprised how quickly your investment self-confidence will flourish.
Even if it’s scary, take the time to talk to those with property investment expertise about finance and investments. You’ll be pleasantly surprised how many women are in the same boat and admit they’re learning too.
Set Yourself Goals, Create A Plan and Set Deadlines
As you learn about property investing, set yourself investment goals and a timeline. Map out a budget. Avoid becoming trapped in analysis paralysis. Permit yourself to experiment. The trick is to start. Then you need to keep going. Each investment you make will teach you something and as a result you’ll find your investment self-confidence blooming.
Avoid making mistakes by understanding and following who is lighting the path for women when it comes to property investing. After all, they have achieved what you aspire to achieve for yourself.
Beat The Gender Investment Gap
Investing in real estate will help you fund your future, pursue your passions and spend more time with your family, knowing your investments are working for you.
The gender investment divide is very, very real. Women are financially disadvantaged when it comes to their level of participation in the workforce while caring for dependent children. It’s every bit as damaging to women’s financial prosperity as the gender pay gap continues to widen. Coupled with the fact that women end up with significantly less superannuation than their male counterparts over their working lives, means that action is crucial to bridging these financial gaps.
So, while it’s important to continue pushing for workplace equality and wage parity, it’s just as critical for women to learn about property investing, to talk about investing and savvy money management and to take our financial futures into our own hands.
Final Observation
The financial future is out there, for yourselves and your families, don’t let fear or lack of confidence cause you to miss the investment property bus. Don’t end up like so many women now in their 50s and 60s who have left it to later in life to make a start.
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