While most of us were figuring out how to ride a bike or perfect our crayon art at six years old, Ruby McLellan was busy becoming Australia’s youngest homeowner. Yes, you read that right—a six-year-old who probably still believed in the Tooth Fairy also had her name on property deeds. If that doesn’t make you reassess your childhood achievements, what will?
Back in December 2021, Ruby, alongside her siblings, got a head start in the real estate game by becoming the joint owner of a $440,000 property near Melbourne. Fast forward two years, and this savvy investment is now worth an impressive $617,000. Talk about a lucrative lemonade stand venture!
But how did a six-year-old come up with the funds for such a purchase? No, she didn’t find a pot of gold at the end of a rainbow. Ruby’s father, Cam McLellan, a property investment whiz, decided to turn his children’s chore money into a golden opportunity. Instead of spending their earnings on fleeting childhood pleasures, the McLellan kids were encouraged to save up for something a bit more substantial—a house.
Each child managed to save around $2,000, which, let’s be honest, is probably more than what many adults have in their savings account. Of course, $6,000 doesn’t exactly scream “down payment” in the property market, even if you’re eyeing the tiniest of tiny homes on Amazon. So, Cam and his partner Felicity chipped in to cover the rest, but with one clear condition: the kids would eventually have to pay their parents back.
Now, before you think this is just a case of wealthy parents buying their kids a house, it’s worth noting that the property is in a trust, with Cam overseeing it until the kids are ready to take the reins. The plan? To hold onto the house until it appreciates enough in value, then sell it so each child can buy their own place.
This story isn’t just about an eight-year-old beating you to the property ladder; it’s a lesson in early financial education and the power of savvy saving (with a little parental help). So next time you find yourself lamenting over your property dreams while munching on a store-brand cereal, remember Ruby’s story. It might just inspire you to skip that extra coffee and start a savings plan of your own—or at least to dream big, no matter your age.
