M
y mom's investment in a property when I was young gave me a significant financial head start. She put the original money and profit into an account for me, which I used as a deposit to buy my first home at 23. This allowed me to enter the real estate market early, giving me a sense of accomplishment and a solid foundation for future investments.

    As a child, I'd almost died after being prescribed a medication that caused a seizure, and my mom won $20,000 in damages. She invested this money into an investment property co-owned by us, which later became mine when I turned 23. The profit from the property was substantial, allowing me to buy my first home with a deposit of $40,000.

    Buying a property at 23 taught me essential skills like saving and budgeting on a modest income. As a journalist, I didn't earn much, but I prioritized covering mortgage payments, utilities, and insurance before splurging on discretionary spending. When friends were buying luxury items, I focused on building long-term wealth.

    After renting out my property and traveling for three years, I returned to Australia with my partner and bought a fixer-upper in Melbourne. We sold my original Gold Coast townhouse, which had appreciated in value, and used the funds as a deposit for our family home. This experience reinforced the importance of getting a head start in real estate.

    Now that I have three kids, I'm determined to give them similar opportunities. Two years ago, they inherited money from a close friend, which is growing in a high-interest savings account. My husband and I contribute to it monthly, and we're exploring investment options with a financial planner. Our children are already learning about saving and investing, with my 9-year-old son interested in building a share portfolio and my 6-year-old dreaming of using her nest egg for a Barbie collection.