DeepSummary
The episode begins with Jane sharing her experience of growing up in a low socioeconomic area and becoming aware of the influence of money from a young age. She discusses her early struggles with managing money, often spending it as soon as she earned it. However, a pivotal moment came when she bought her first apartment using a tax return, which gradually led her to adopt better financial habits.
Jane details her journey of leveraging the equity from her first property to purchase a second one with the help of a mortgage broker. She emphasizes the importance of having a supportive network of professional women who guided her through the process and helped her understand financial concepts like interest rates and offset accounts.
Throughout the episode, Jane stresses the value of investing in her career and professional development, which provided her with a secure income and opportunities for growth. She also highlights the significance of surrounding herself with like-minded women who encouraged and motivated her to achieve her financial goals.
Key Episodes Takeaways
- Leverage and compound growth through real estate investment can lead to substantial wealth accumulation over time.
- Having a supportive network of professionals, especially women, can provide valuable guidance and mentorship in personal finance and investing.
- Investing in personal and professional development can create opportunities for additional income streams and financial stability.
- Adopting a long-term mindset and prioritizing future financial security over short-term gratification is crucial for building wealth.
- Surrounding oneself with like-minded individuals who encourage and motivate financial growth can be invaluable on the journey to financial freedom.
- Overcoming early struggles with money management and seeking financial education can lead to significant personal and financial transformation.
- Leveraging equity from existing assets can provide capital for further investment opportunities without requiring a high income.
- Aligning financial goals with personal values, such as independence and freedom, can provide motivation and a sense of purpose in wealth-building efforts.
Top Episodes Quotes
- “For me, being terrible with money is that the minute I had it, I spent all of it. I had no real concept of bigger picture or kind of longer term or planning for future me.“ by Jane
- “And so the value of that first apartment that I bought had obviously doubled in them, some in the kind of eight years at that time. And so I was able to leverage that apartment to buy a townhouse in the same kind of suburb.“ by Jane
- “You know, like I said, my mortgage broker is a woman, my bookkeeper is a woman, my accountant's a woman, my lawyer is a woman, and the first couple of those were on accident. And now it's on purpose.“ by Jane
- “And for me, that's kind of the ultimate goal, I guess, is that, you know, financial kind of independence and freedom, it's not the stuff and the things. It's the time and choice and opportunity is that for me, being able to invest in myself and my career has afforded me that and the options to choose.“ by Jane
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Episode Information
Girls That Invest
Girls That Invest
5/31/24
Welcome to Millionaire Diaries, where Sim chats with millionaires from the Girls That Invest community to uncover the secrets behind their success! Get ready to dive into their stories as they reveal how they turned their dreams into millions. From childhood influences to career strategies and investment insights, join us as we explore their journey to financial freedom.
This week, Sim interviews Jane who shares her journey from growing up in a low socioeconomic area to becoming a property millionaire. Jane discusses how early financial struggles and indirect learning from her mother influenced her money management skills, eventually leading her to invest in properties through leveraging and gradual financial planning. The episode highlights the importance of community, particularly a network of supportive women, in achieving financial success and offers practical advice on property investment and financial growth for young women.
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'Til next week, team! 💖
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