It is hoped that this newsletter is not just read by property managers but is also read by persons involved in the investment market. Hopefully, people who are consumers will read this newsletter.
The other day, I was given a lone statistic from the Australian Bureau of Statistics. This statistic was provided to me by a person undertaking their MBA and focusing on property investment.
We’ve all heard it: husbands bleating that they have been ripped off by their wives through the family court system. You would think in those circumstances, divorces would leave men destitute and on the poverty line. This statistic belies those assertions. The statistic is that 40% of single women who retire are in poverty. If the divorcees were taking all the cash, the boys should be the ones below the poverty line. The statistic shows that it is in reverse.
One of the great problems is that single mums pump all their cash into the upbringing and development of their children and even the development of their grandchildren. They fail to set aside money for their retirement and have no investment plans. The investment property market needs to be more accessible to single mums, the banks need to change some of their policies and we need to rethink how we approach programs for those who are focused on their kids and not on their retirement.
In a country flourishing like this one, no one should be in poverty!
This article was written by Bailey Compton, Principal Solicitor & Director at Leverage Group.
To get in touch with Bailey, please email firstname.lastname@example.org or call 1300 438 538