Six-Year-Old Chips In To Buy Her First House Using Allowance Earned From Chores
Wunderkinder are getting younger and younger. Not only are there four- and five-year-old fashion CEOs, but a six-year-old has now also acquired a plot of land using hard-earned chore money.
Together with her sister Lucy and brother Gus, Ruby McLellan from Sydney, Australia, helped pay for a partially-built, AU$671,000 (US$478,000) house and land in the suburb of Clyde. The siblings each saved up AU$2,000 to secure the place—not bad for a trio too young to enter the workforce.
“My name is Ruby and I’m six years old, and I’m about to buy my first house,” the six-year-old told local news outlet 7NEWS.
‘My name is Ruby and I’m six years old and I’m about to buy my first house.’
Posted by 7NEWS Australia on Sunday, December 19, 2021
The siblings got their funds from completing chores and helping their father package his book. Their dad, Cam McLellan, is a property investment expert.
The older McLellan has drawn up a plan of “all the steps it takes to build a property portfolio” that the kids can refer to when they grow up and wish to sell the house, which is anticipated to double in value in 10 years.
According to Mr McLellan, his children intend to sell the property in 2032 and split the profits. “The price on that block has already gone up $70,000, so they’ve done well so far,” he detailed.
[via New York Post and 7NEWS Australia, cover photo 3154345 © Joseph Gough | Dreamstime.com]
