I always knew as a chick I was a little richer than men, but now it's official. According to the Inland Revenue there are now more female millionaires aged between 18 and 44 than there are males. Currently women own 48% of the nation's personal wealth, but there are predictions this will rise to 60% by 2025.
Nicola Horlick, herself an extremely successful business woman, launched Bramdiva, a financial advisory service for women with assets of a million pounds or more. She started trying to make a name for herself in the 80's when it was much more difficult for women to get a foot in the door of any business. We all know the difficulties for women in the workplace. Some places are completely dominated by men and for women to even get a look in, it is impossible. At one time women tried to compete with men. Copy their behaviour and try to rise to their level. Unfortunately it wasn't a level playing field. Times are changing though.
Not all women want to stay at work. Many work until they are in the 35 age bracket and then they may stay at home and look after the family, have children, and by the time they return to work, things aren't looking good for them. So what is a woman to do? Well many women are starting their own businesses. There are about 700,000 female-run companies in Britain, bringing in a revenue of about £130bn. As a result of this many more women are becoming millionaires. Three-quarters of any rich list is people starting their own business, and women are starting to show a significant growth in this area.
Their appears to be a different approach in the way that female entrepreneurs manage their staff. They believe it is important to give a positive image to their staff, and to lead by example. They also thing women have clearer heads, and set their goals more specifically. Men seem to give up alot easier and try many different things, where as, apparently women are more likely to stick at it.
Another thing that is making more women millionaires is.....that's right folks, divorce. More women are becoming millionaires because of the huge settlements they are recieving from their rich husbands. Marriages are great investment opportunites for women!
Which ever way you decide to make your millions ladies, be warned, to be in a position where you never have to work again you are looking at making £5-10m, just to live off your investment income!