Meghan Markle and Prince Harry Want to Be Financially Independent Amid Decision to Step Back from Royal Duties

Amid news that Meghan Markle and Prince Harry have stepped back from royal duties, the royal couple also revealed that they also want to be financially independent. 

The royal world was sent into a shock yesterday when the Duke and Duchess of Sussex announced their decision to step back from their royal duties.

Prince Harry, Duke of Sussex and Meghan, Duchess of Sussex depart Canada House on January 07, 2020 in London, England. | Photo: Getty Images

Prince Harry, Duke of Sussex and Meghan, Duchess of Sussex depart Canada House on January 07, 2020 in London, England. | Photo: Getty Images

The unanticipated news was shared via the Sussexes’ official Instagram page. 

In the lengthy statement, Prince Harry and Meghan explained that after much reflection, they had decided to “step back as senior members of the royal family.”

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“After many months of reflection and internal discussions, we have chosen to make a transition this year in starting to carve out a progressive new role within this institution. We intend to step back as ‘senior’ members of the Royal Family and work to become financially independent, while continuing to fully support Her Majesty The Queen. It is with your encouragement, particularly over the last few years, that we feel prepared to make this adjustment. We now plan to balance our time between the United Kingdom and North America, continuing to honour our duty to The Queen, the Commonwealth, and our patronages. This geographic balance will enable us to raise our son with an appreciation for the royal tradition into which he was born, while also providing our family with the space to focus on the next chapter, including the launch of our new charitable entity. We look forward to sharing the full details of this exciting next step in due course, as we continue to collaborate with Her Majesty The Queen, The Prince of Wales, The Duke of Cambridge and all relevant parties. Until then, please accept our deepest thanks for your continued support.” - The Duke and Duchess of Sussex For more information, please visit sussexroyal.com (link in bio) Image © PA

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Aside from giving up their royal duties, the couple also disclosed that they wanted to “work to become financially independent.”

According to Forbes News, the monarchy costs the taxpayers a whopping $86 million from 2018 to 2019. 

In the couple’s website, which gives detailed information on their exit, Harry and Meghan declares that they would no longer accept taxpayers’ money. 

They, however, noted that the contribution of taxpayers only catered for 5% of their costs as the majority of their expenses were funded by Prince Charles through the Duchy of Cornwall.

While it is not sure how the couple would begin to make ends meet, it must be noted that the duke and duchess mentioned in their statement that the new chapter would include “the launch of our new charitable entity.”

Prince Harry and Meghan pose with their newborn son Archie Harrison Mountbatten-Windsor during a photocall in St George's Hall at Windsor Castle on May 8, 2019. | Photo: Getty Images

Prince Harry and Meghan pose with their newborn son Archie Harrison Mountbatten-Windsor during a photocall in St George's Hall at Windsor Castle on May 8, 2019. | Photo: Getty Images

It will be recalled that while Prince Harry has always been a member of the royal family and hasn’t earned independently, Meghan was an actress famous for her work on the legal series “Suits.”

According to the Daily Mail, the couple’s sudden exit hasn’t rested well with social media users who have dubbed it “Megxit.”

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Having attended the 10th Annual One Young World opening ceremony on Tuesday, The Duchess of Sussex was joined today by The Duke of Sussex for a round table discussion on gender equity with OYW and Queen’s Commonwealth Trust young leaders. Over the last few days, these young leaders became @OneYoungWorld ambassadors with the intention to return to their communities and further existing initiatives to help change the world for the better. This year OYW partnered with the @Queens_Commonwealth_Trust, of which The Duke and Duchess are President and Vice-President respectively, to provide scholarships to young leaders driving positive social impact in the Commonwealth. This was the most exciting collaboration between two groups The Duchess is passionate about and has been working with for some time. For more information and highlights from the week and how you can support these incredible leaders and their initiatives, visit @OneYoungWorld Photo © SussexRoyal / PA

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While some fans have praised the couple for pursuing their true passions, others have criticized them with Meghan having the majority of the blame.

The mother-of-one was slammed for ruining the royal family and tearing Harry away from his family.

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This evening, The Duke and Duchess of Sussex attended the annual #WellChildAwards in London. WellChild aims to ensure every child and young person living with serious health needs has the best chance to thrive with the support and medical care needed in the comfort of their own home. The Duke of Sussex became Patron of WellChild in 2007, and last year both The Duke and Duchess attended the awards to honour the children and families that WellChild supports. The Duke, who first came to these awards over a decade ago, shared in his remarks tonight: “Last year when my wife and I attended we knew we were expecting our first child - no one else did at the time, but we did - and I remember squeezing Meghan’s hand so tightly during the awards, both of us thinking what it would be like to be parents one day, and more so, what it would be like to do everything we could to protect and help our child should they be born with immediate challenges or become unwell over time.  And now, as parents, being here and speaking to all of you pulls at my heart strings in a way I could have never understood until I had a child of my own.” • To find out more about tonight’s event and how you can support this very special organisation, please visit @WellChild Photos ©️ PA images

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According to US Magazine, the exit from royal duties will result in a change of certain protocols. Royal reporter Omid Scobie made this revelation via Twitter.

Hollywood Life also notes that Prince Harry and Meghan confirmed their move to North America in the lengthy statement.

The publication notes that the decision to step back has been described as “complicated” by Buckingham Palace in a separate statement.

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