“Starting My Business Gave Me Independence”
Not long after she turned 50, Fiona Thorpe started her own business – a chauffeur service called HailMe – which employs female drivers exclusively.
Describe your relationship with money. I am more in control and have greater confidence now that I am running my own business.
What’s your greatest financial regret? Selling our apartment in Bondi too soon. The prices have escalated since we sold it.
What worries you most about your financial future? At the age of 54, I am concerned about having enough of a nest egg in retirement to provide the lifestyle I am used to.
Are you better or worse off financially now than you were a decade ago? I am much better off now as my business is growing. A decade ago I was working for an accounting firm and couldn’t really see a way forward financially. COVID has slowed things a bit for my business because we usually get a lot of bookings for airport transfers. Business will come back as conditions change and the airports become busier.
Describe a difficult financial moment and how you managed that. One of my toughest decisions was selling our unit in Bondi and buying a family house in the [NSW] Blue Mountains. I had to reconcile the fact that a large house for my children was far more important than our tiny unit despite the fact it offered a seaside lifestyle that I loved so much.
What’s the biggest win that you have had in your life as it relates to money? Starting my business gave me independence from bosses – I see that as a huge win!
If you were in charge of the finances of our nation, where would you invest?I’d change the way unemployment benefits work. My goal would be to ensure people have the opportunity to get back to work in a much shorter timeframe. I would also do more to help first-home buyers.
How would you address the gender pay gap if the decision sat with you? I would put plans in place that encouraged more women into higher level positions. I would also invest in educating schoolchildren on the benefits and importance of gender equality.
If you won Lotto, would you spend or invest it?I love the sharemarket and the property market and I would put a lot into those investments, as well as ensuring my children have a good start in life.
What does financial independence mean to you? Being able to retire without changing my lifestyle or having any money worries.
See hailme.com.au
Need career advice? Drop us a line at: hello@tonicmag.com.au
The information provided is general information and not personal advice. Tonic is not a financial advisor. You should consider seeking independent legal, financial, taxation or other advice to check how the information we publish relates to your unique circumstances. Tonic is not Iiable for any losses caused, whether by negligence or otherwise, arising from the use of, or reliance on, the information provided directly or indirectly, by this website.
Want more Tonic delivered free to your inbox? Subscribe here