In the lead up to Mother’s Day Property Mentors Australia hosted the ‘Women + Wealth’ webinar on 5th of May 2016 to celebrate women investors in the property world. Did you know that 47% of Australian investment properties are owned by women (ATO March 2016) and of the 927 000 Australian women who own an investment property, 570 000 of them use negative gearing to build wealth and save for retirement?
Women are investing in property to build their wealth and become more financially independent. So how do they do this? The first crucial factor is to be a confident saver According to ASIC’s Money Smart website, women savers fall under four main categories 1. Dreamers, those that have savings goals but no real plan for achieving them. 2. Hit & Miss, those that have a plan to achieve their savings goals but don’t always stick to it. 3. Slow & steady, those that save small amounts regularly and will eventually get there 4. Fast and determined, those that are really focused on saving as quickly as possible.
But what is important is to utilise techniques used by confident savers such as know how much money is needed, have a clear savings plan, review progress, time frame and telling friends and family, as according to ASIC Money Smart Financial Guide those who review, remind themselves and publicly commit to their goals are more likely to achieve them.
The second crucial factor is to have time to invest and have a team around you from mentors, property advisors, mortgage brokers, conveyancers and property managers as all these people can help you research and invest in a suitable property.
Are you proactive in property investment? To find out more visit The Property Mentors Australia website http://www.thepropertymentors.com.au/ and for tips for women who are considering investing in property read ‘How to invest in property, even if you only have a 5 per cent deposit’ by Andrew Crossley for Australian Women’s Weekly here http://www.aww.com.au/career/how-to-invest-in-property-even-if-you-only-have-a-5-per-cent-deposit-25404.