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Are Shoes And Houses Really Keeping Women Poor?

When will women breach the big wealth ceiling?

Hesta van der Westhuizen




We women have come a long way:  we have broken a few ceilings (perhaps not be the glass ceiling yet, but we are getting there), we can vote (can you believe it is not even 100 years since we were allowed to do so?) and we can become Members of Parliament.

However, we have not yet breached the big wealth ceiling. Of the 1 426 people on the Forbes Rich List, (those are the world’s billionaires in dollar terms) only 138 are women. The 15 richest people in South Africa do not include any women.

But the majority of women who do appear on the world’s Rich Lists, mostly owe their fortunes to their families or their husbands (rather ex-husbands). Their wealth seems to come from either family wealth, inheritances or divorces.

Why don’t women achieve great wealth?

Even if being included in the rich lists is not part of your life goals, just having a moderately substantial balance sheet seems to be out of reach for most women.

The reason might be that we probably have been hurdled from the start – earning less income than men for the same job, not being allowed to be a member of a pension fund (in some instances this rule has applied until as recently as 25 years ago), leaving work to bring up the kids.

And do not discount the fact that so many of us partnered with men that either assumed all the assets in the relationship and prevented us from accumulating some of it for ourselves, or worse, consumed the little bit that we had.

You need to think ‘rich’

But maybe, just maybe, one of the reasons is that we still do not have a ‘rich’ mind set.

  • We have a consumption culture and would rather buy another pair of shoes or handbag than save the money so that it one day can become wealth
  • If we invest, we are overly cautious about the risk involved in investing. Research done by VISA last year showed that only 2% of women invest directly in shares while the majority thinks that buying shares are the worst investment choice. For 54% of women, property is their preferred investment choice. With a potential return of about 16% per year on shares versus about 7% in property – who is going to get really rich by only investing in property?
  • The same research showed that only about one-third of women would consult a professional for money advice. This might be the reason why the money of so many widows and divorcees gets ‘schemed’ away.

And yes, we still get men whose buddies around the braai count as their financial adviser – but the really serious-about-money-men have a whole battery of advisers who talk to them about their financial affairs.

Fortunately, the financial planning industry has over the last 10 years become much more ‘womanised’ with a lot more female professional financial planners around, so that women can talk to women about their money.

Women still think that protecting our income and assets against life changing events such as a serious illness or disability is a male thing, while 70% of women have no short-term insurance. So when life happens, our savings get used to replace whatever is lost – again affecting our wealth.

In order to really start celebrating women’s achievements, maybe we need to start thinking ‘rich’ – and make it part of every woman’s life goals to have her own share portfolio by the time she reaches 30!

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8 Reasons Why You Should Have a Budget



Hesta van der Westhuizen CFP is a Certified Financial Planner at Consolidated Financial Planning and has a BCom-degree and Advanced Post Graduate diploma in Financial Planning Law. She is also Chairperson of the Financial Planning Institute’s Risk committee. For more information please visit:

Personal Finance

6 Ways To Develop A Millionaire Mindset

Chasing money has remarkably little to do with getting rich.



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If you truly want to have a million dollars, you must first be and think like a millionaire. By doing so, you will attract the necessary resources to you.

So, you want to become a millionaire entrepreneur? You’re not alone. Many dream of leaving their job and becoming their own boss, enjoying the various millionaire lifestyles we watch on TV. But there’s a difference between those who dream of becoming millionaires and those who do. And it begins and ends with mindset. If you don’t develop that mindset, you will continue to spin your wheels, working just as hard, but never going anywhere.

Developing a millionaire mindset requires you to stretch your thinking. Start by developing the following six attributes.

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Personal Finance

4 Ways To Become A Millionaire Even When You Start With Little

It costs nothing to take advantage of the limitless opportunities online.

Timothy Sykes




The hardest part of becoming successful is getting started to begin with. But despite the challenges ahead of you, there’s a way to become a millionaire when starting with little. I’m going to show you four reasons why you can become a millionaire with just a small investment.

1. First focus on learning, not big gain

Education is your greatest weapon. Focus on learning in the beginning. Don’t make the mistake of focusing on making huge gains in the beginning. Learn everything you can because this is how you build the foundations for long-term gains.

Related: 21 Choices Millionaires Make That You Aren’t Making But Should Be

They say that if a millionaire goes bankrupt they’ll nearly always be able to get it back. And that’s because they might have lost their money, but they have the knowledge of how to get back to where they need to be.

2. You can learn loads about any topic online


I’m grateful for the internet. It’s the single biggest library in the world. You’re reading this article right now and you’re acquiring knowledge you wouldn’t have been able to acquire 40 years ago.

Use the internet to its fullest extent, whether that’s through reading books, browsing articles or watching video tutorials. Set some time aside every day to learn something online. It could be a video series or a favorite blog.

When you get into the habit of learning regularly you’ll find that you advance much faster.

3. Focus on the niche you love

These days you can learn about anything and target the niche you’re passionate about.

This is what I was able to do with penny stocks. I found a gap in the market and provided knowledge to people who wouldn’t have otherwise being able to access this sort of information.

You can do that with absolutely any niche. When you find a niche you’re passionate about and you use the reach of the Internet you start to make huge gains.

4. Prove your expertise by creating free content

Your reputation as an authority is the new business card. There’s a reason I created a penny stock guide and made it free for all. You may have already seen ads for it on social media. The way to succeed with little is to create a reputation through your content.

Related: How To Become A Millionaire, Explained In 1 Minute

It’s the gateway to success because through free content you start to build relationships with others who value your work. And from there everyone gets richer.

You can do lots with a little

The days when you needed a huge investment to become successful are long gone. These days you can do so much with just a little. Find what you love, advance your knowledge in that area, and create a product that fulfills a need. Finally, work on building up relationships through portraying yourself as an authority on your subject.

Combine everything together and you can accomplish anything.

This article was originally posted here on

Related: 13 Habits Of Self-Made Millionaires You Could Adopt Today

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Personal Finance

10 Tips To Become A Millionaire This Year

Becoming a millionaire requires changing your mindset and implementing some changes.

Murray Newlands



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Becoming a millionaire may seem out of your reach, but it’s possible with the right attitude and guidance. The fact of the matter is your income can only grow as quickly as you do, so you need to change your mindset to achieve your goal of becoming a millionaire.

Once you have a millionaire mind, you can’t lose it, no matter what financial or business mistakes you make along the way. To get yourself there, you’re going to need some structure. To help you, I’ve outlined the top ten tips you should follow to become a millionaire this year.

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