Women investing in property to make up for lack of Superannuation
Women investing in property to make up for lack of Superannuation; Women know they start off behind the eight ball when it comes to securing their futures
Tweet Topic Started: 30 Aug 2017, 01:17 PM (502 Views)
An increasing number of women are making up for what they don’t have in super by investing in property, a new report has revealed.
Today, a massive 47 per cent of Australians who own an investment property are women, an analysis of the latest Australian Tax Office data by the Property Council of Australia has found.
“This might be surprising to many, but it shows that women know that they start off behind the eight ball when it comes to securing their futures,” says Council chief executive Ken Morrison.
Marion Mays, the founder of wealth advocacy firm Thalia Stanley Group, says "creating a solid financial foundation for you and your family is not 'a man's job'."Marion Mays, the founder of wealth advocacy firm Thalia Stanley Group, says “creating a solid financial foundation for you and your family is not ‘a man’s job’.” Photo: Sarah O’Connor
“The outcome suggests women are making deliberate decisions to build wealth in addition to superannuation. Housing allows women to rely on the benefits of asset growth even when they might be out of the workforce.”
Even though women still earn generally less than men – 28.7 per cent less in ASX 200 organisations and 16 per cent less across all companies and occupations, according to the Workplace Gender Equality Agency – they still appear determined to buy property as an investment.
Fifty-five per cent of the people who earn less than $80,000 and negatively gear their investment properties are also now women, compared to 45 per cent of men on a similar income.
“Despite the fact that women on average earn considerably less than men, they are just as likely to use investment property to secure their future,” says Mr Morrison. “Many women know that their superannuation won’t be enough to provide for their retirement because they have taken time out of the workforce to raise a family. So they are looking for other ways to build financial security.
“And what is of particular interest is the number of women on taxable incomes below $80,000 who negatively gear.”
The Property Council research shows that 15.2 per cent of Australian female taxpayers own an investment house or apartment, only slightly under the 15.7 per cent of men who own one or more.
Ms Mays believes women are now coming around to the opinion that investing could leverage their income for wealth creation more than a job or savings could, especially at a time when so many marriages end in divorce and women often end up providing for the children.
TBH women make better property investors. They are also responsible for choosing most family homes bought.
Most men think they chose the house and sorted out the finance to buy it, but that's just not true. Their wives did. When the decision is left to men alone, nothing gets done.
Take risks - if you win you will become wealthy, if you lose you will become wise
TBH women make better property investors. They are also responsible for choosing most family homes bought.
Most men think they chose the house and sorted out the finance to buy it, but that's just not true. Their wives did. When the decision is left to men alone, nothing gets done.
They are also more likely to be swinging voters. And whine a lot more, and tend not to take responsibility for their decisions when things go tits up.
All of which, in a democracy, leads to compliant governments who make dumber and dumber economic decisions because they are being pussy whipped.
So sue me.
Speak when you are angry and you will make the best speech you will ever regret. Ambrose Bierce
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