This week I posted a video about Round 4 of The $1000 Project starting up again. This round is different from the others, in that it is much shorter, (with the arrival of baby Apple coming at the end of August) and my increasing awareness and concern of the Gender Gap.
Whilst some of the Gender Gap is caused from stepping out of the workforce to take on unpaid work in raising young children or caring for other family members, it is one that comes with expensive consequences for women, which need to be and can be proactively managed, to either help reduce the gap or even eliminate it completely.
And whilst I believe our government can do more to help around this, such as more transparency between salaries, more support with childcare and providing flexible working agreements, even greater paternal support, I am not comfortable with waiting around for this to finally happen, as by the time these changes come in, it may be too late for me and I don’t want to become a statistic.
Over the next few rounds of The $1000 Project, I will really be using it to address these gaps, both in income, superannuation and financial independence. For males and females. Showing you and educating you on all the strategies that I am using (after careful research, planning and preparation), which are all linked to my long term financial goals. You can then pick and choose what you like and what works for your financial goals.
You don’t need to (nor should you) just follow what I am doing, as my goals and appetite for risk may be different to yours. But by me helping educate you through my videos each week, I hope that you will be informed, empowered and have enough knowledge to see what works for you now, what doesn’t and what is worth thinking about further down the track as your investor experience grows every week.
So this week I shared that I am using the power of leverage for The $1000 Project investment portfolio. Which means that I am taking out an investment loan, to invest further in the portfolio. Borrowing to invest comes with risks, quite a few risks, but mostly manageable. And through this video and more to come, I show you what I am doing to make these risks, worthwhile risks, with pay offs that should help contribute towards my long term success. And this is only one of a few different strategies that I will be using a showing you, that you can consider using in your own wealth creation journey.
So enjoy watching my path unfold, feel free to sit on the side lines, jump on what you like and steer clear of what you don’t like. I never want you to do something that you don’t feel 100% comfortable with. But make sure that you don’t reject an idea because you don’t understand it, but you understand it, see the benefits but the risks don’t feel right for you and your goals or don’t feel right for you and your goals right now.
Next Money Monday’s video, I explain in more detail the risks of this leveraging strategy and what proactive things I am doing to help turn these risks into opportunities for great financial security through long term passive income. Make sure you are subscribed and your notification bell is switched on.
Canna Campbell is the founder and director of SASS Financial Services, a boutique financial planning firm. She is Channel 9’s exclusive ‘money expert’, founder of financial media platform SugarMamma.TV and best selling author of The $1000 Project and Mindful Money.