What is your net worth? $1,300,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 42
What region of New Zealand do you live in? Bay Of Plenty
How did you accumulate your net worth, what are you invested in? 50% rental property, 40% business, 10% shares
What was your highest average household WEEKLY income after tax? $5,000
What is your career? Chef and Veterinarian
Do you have children? YES
Do you have a tertiary qualification? NO and YES
Did you inherit any of your money? NO
What's the approximate value of your house? $800,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $1,200,000 rental property and $500,000 in business debt
Are you in KiwiSaver? YES
Were you taught about money? NO
What is the most enjoyable thing you do with money? Take care of immediate family, and wider family. Enjoy family time, make memories, have experiences, and grow our education.
Do you use your money or your time to help others? NO
What is your greatest financial win? Investing 5% of what we make a year in our own education.
What is your worst financial mistake? Not starting my financial literacy earlier.
What advice do you have for others? Educate yourself. If you spend 40 hours a week making money, then spend one hour a week learning what to do with it, how to keep it, and how to invest it.
What is the point of having a net worth above $1,000,000. What does it mean to you? The “Sleep at night factor”. Passing on to the next generation.
Finish these sentences:
If you want to build wealth do this… Track your money. Increase your savings rate. Educate yourself. Talk to people who have already done what you're trying to do. Exercise will clear your head and help you make better decisions.
If you want to build wealth avoid doing this… Procrastinating. Not paying your accountant - pay for advice, it saves you in the long run whether it's money or time.