Why Megxit is all about Freedom and ‘In-Powerment’
The Duchess and Duke of Sussex, and really the whole royal family, are nav.ing a really complex situation right now. While I’m sure you’ve seen many analyzing the heck out of their decision to step away from their roles as senior royals, we see it as the perfect example of nav.ing finances, family, choices, feelings, and in their case, the weight of the world’s eyes on their shoulders.
Like most of the rest of the world over the last two days, I have watched with both joy and trepidation, the beautiful announcement by the Duchess and Duke of Sussex regarding their essential ‘exit’ from the financial restrictions of being a senior member of the British royal family.
It may appear as an exit from royal duties, and a rejection of the fishbowl it seems the British media places them in (and let’s face it, world media, since here I am staring at the Pacific reading about them in Cosmo, the NYT, and on CNN) and even the racism that has surfaced insidiously. However, if you scratch the surface and pay attention to the ‘financial independence’ line, and then read their newly minted website explanation, we have the real-life, human story that mixes family, finances, careers goals, and a misalignment with their needs and responsibilities.
In the overall announcement, they were essentially signifying their desire for self-determination and life on their own terms.
This takes courage, and I hope they are prepared for the consequences of taking ownership of their reality. What sings to my Nav.it soul is that their tactic to disentangle themselves was to politely decline the financial obligations placed on them by receiving the Sovereign Grant.
Why this strikes me as exciting is that they made a decision to chart their own path, and had to pay attention and make hard decisions about their money. It’s the practical, internally powered decision that sees money as part of this thing called adulthood. Money is not the end goal, not the object that determines our worth, it’s merely a tool we need — and not in a creepy, evil way, but in a life-sustaining, we-need-to-put-food-on-the-table way.
Obviously these people are not suffering, nor will they with the resources they both have from their inheritance, family and professional experiences. The core lesson to me is: the Duchess and Duke wanted to live life on their own terms, and the only way to ensure they could do that was to figure out how to make their own money. Makes perfect sense.
Now to be fair there are the anti-monarchists that aren’t completely convinced and note that Harry comes from a lineage of entitlement. So while they are stepping away, they’re not giving up all the perks of royal life.
And of course, it’s MUCH more complicated than just quitting a job.
You have an entire country that has deep feelings about who you are and what you represent. You have protocol and family, and a long history of dissent in the ranks with Americans (anyone else devour season 2 of Netflix’s The Crown?). Then of course there is the ugly racism that seems to be surfacing across media and pundits in the home country.
And then you have power. However, as much as the power is in the hierarchy of the system, the power is also in the money. Thus, the family business of being royal is having a momentary crisis because one set of them doesn’t want the family responsibility anymore so have ultimately given up the family money.
I won’t pontificate further on the lives of people I don’t know, but it will sure be fun to watch.
We should really be talking about the shift we’re seeing in how people are building their wealth.
The larger conversation about this event is really the societal shift that has happened over the past few years that has allowed people to break up with the traditions of the system in which they function and think more about how they grow wealth on their own terms.
This is just the last example at the upper echelons of society that show our generation taking back our financial responsibility, understanding the constraints that come with financial management, and nav.ing it on our own terms.
Over the last few years, we saw the most famous female tennis star in the world, Serena Williams not only launch her own Venture Capital firm but grow her empire to include her own fashion brand, successful early stage startup investments, and maybe a few Finals appearances.
Other rising star athletes like Maggie Steffens of the U.S. water polo team and Dagmara Wozniak of U.S. fencing also deserve a nod for their self-determination, grit, and resilience as they nav. their own careers, entrepreneurship and life outside of the typical boundaries of their sports.(Full disclosure: Maggie and Daga rep for Nav.it because they believe in in-powering all women to own their finances).
Finally, I can’t go on without referencing Queen Bey here (and I would hope you’d hold me accountable on that front). It’s undeniable what an incredible businesswomen Beyonce has emerged to be with her own Entertainment Company, Parkwood; solely-produced albums all over the place that should have won more accolades because of their incredible genius; her own Netflix documentary that gave us a behind-the-scenes look at her unwaverable hustle; a diversified portfolio like all good investors (and if you don’t have one, it’s time to get started); and let’s not forget, this past year she rapped in front of the Mona Lisa. If you know the French, you know that’s a BFD and her net worth.
Along with all these greats, we say: you do you, Your Royal Highnesses, and find the financial freedom you crave. We’ve got your back and can’t wait to watch you nav.it.
We’re excited to offer free tools to facilitate your financial freedom and manage your debt like a budget tracker, account aggregation, and debt repayment calculator inside thenav.it money app .