Courtney Lorking, a 26-year-old single mum from Australia, has an inspiring story of resilience and determination. She went from relying on Centrelink payments to becoming a property millionaire, showing that with the right mindset and strategy, anyone can build wealth.
The 26-year-old said anyone could start building their wealth even if they weren’t “super wealthy”.
From Unemployment to Owning Three Properties
Courtney started her career as an automotive mechanic and later took on jobs in a factory, building train injectors. However, her life took an unexpected turn when she found out she was pregnant. Facing the challenges of unemployment and single motherhood, Courtney found herself out of work and relying on Centrelink payments to make ends meet.
“I found out I was pregnant and didn’t work because no one would hire me. I did not work for two years,” Courtney shared. “It was tough to find a job with a newborn, especially since I was breastfeeding. I couldn’t leave her; it was very tough.”
Fortunately, she found a casual weekend job where she used to do promo work and off the back of this landed a full-time job in marketing, which she said she could do from home whilst juggling her daughter.
Despite the challenges, Courtney’s story took a positive turn when she received an inheritance, which became the turning point of her financial life. In 2019, she used the inheritance to buy her first property, a three-bedroom home on the Central Coast where she now lives with her five-year old daughter. This initial investment laid the foundation for her journey to wealth.
“I bought that property with an inheritance that I got. That was kind of the biggest reason that I was able to afford that property,” said Courtney.
“I bought it at a really good time and I’ve since bought two more properties based on the equity that I had in the original one.”
She also shared that she qualified for the NSW First home buyers Assistance Scheme for her first home and get stamp duty costs waived on the $530,000 property.
Building Wealth Through Property and Shares
After purchasing her first home, Courtney leveraged the equity in that property to buy two more investment properties, which are currently under construction. These properties, located in Melbourne and Perth, are part of her strategy to diversify her investments.
But Courtney didn’t stop at property. She also began building a share portfolio, starting with just $5 two years ago. Today, her share portfolio is worth $20,000. She regularly invests $100 each week, following what sharesies co-founder and co-CEO Sonya Willams said is a strategy known as “dollar-cost averaging,” where she invests the same amount consistently, allowing her money to grow over time. She said she has a variety of ETFs (a bundle of multiple companies in one stock) and company shares.
“It’s an amount that I don’t really miss,” Courtney said. “I don’t get to the end of the week and think, ‘Damn, I wish I still had that $100’. It’s set and forget.”
The Power of Education and Strategy
Courtney’s success didn’t come from luck alone; it was the result of hard work she poured into educating herself about finances, budgeting, and investing. She read finance books, listened to podcasts, and took the time to understand how to make her money work best for her. This self-education empowered her to make informed decisions about her investments.
For other single mums, Courtney’s advice is clear: “It’s not as hard as it seems and it’s not as scary as it seems. Anyone can do it; you just need to empower yourself.”
She also emphasizes the importance of taking advantage of government schemes available for single parents, such as the Family Home Guarantee, which allows you to buy a home with a 2 percent deposit. Courtney also recommends talking to a broker to create a clear “game plan.”
Diversifying Investments for Long-Term Success
Courtney’s approach to wealth-building involves diversifying her investments across both property and shares. While property offers long-term stability, shares provide liquidity, allowing her to access funds quickly if needed.
“There are pros and cons of both,” she said. “Being able to sell a share really quickly if you need to is definitely appealing if you need to get some money. You can’t just sell a house and bail out really quickly.”
The two investment properties currently under construction, which are located in Melbourne and Perth and were $530,000 and $480,000 respectively. She said she plans to rent them out once they are complete.
“The biggest thing that’s messed me up at the moment is how long my properties have taken to build. Therefore, I am spending a lot of money and I’m getting no payments back essentially,” she said.
Though her journey has had its challenges, particularly with the long construction times for her investment properties, Courtney remains optimistic. She’s focused on the long-term benefits of her investments and continues to build her wealth through careful planning and persistence.
Empowering Others to Follow in Her Footsteps
Courtney’s story is a powerful reminder that with determination and the right knowledge, it’s possible to overcome financial obstacles and achieve significant wealth. Her journey from Centrelink payments to property millionaire is proof of the fact that anyone can change their financial future.
“It’s not as hard as it seems and it’s not as scary as it seems,” she said. “Anyone can do it, you just need to empower yourself.”
Williams recommended those new to investing do their research and find companies and ETFs that matched their values and financial goals.
“Look to build a diverse portfolio by spreading your [money] across different investments – you don’t want all your eggs in one basket,” she said.
Lorking also recommends people to read up about government schemes available for single parents, especially the Family Home Guarantee which lets you buy a home with a 2 per cent deposit, and talk to a broker so they can create a clear “game plan”.
For those new to investing, Courtney’s advice is simple: start small, educate yourself, and don’t be afraid to take the first step. Whether it’s through property, shares, or a combination of both, the key is to stay committed and make your money work for you over time.
