What is your net worth? $3,000,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? Mid 40’s
What region of New Zealand do you live in? Wellington/Wairarapa
How did you accumulate your net worth, what are you invested in? Buying property for Rentals
What was your highest average household WEEKLY income after tax? Retired but net passive income $100,000.
What is your career? Was a paramedic earning $22/hr and husband, a truck driver who was on $14/hr before tax when he retired at 53.
Do you have children? YES
Do you have a tertiary qualification? YES
Did you inherit any of your money? NO
What's the approximate value of your house? $650,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $160,000 mortgage on a rental property.
Are you in KiwiSaver? YES
Were you taught about money? NO
What is the most enjoyable thing you do with money? Have the gift of early retirement to do amazing things in our life, particularly with friends and family.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Help friends and family by giving them a nice place to stay with very low rent that they can manage for each of their situations. Volunteer our time to help in local community and also donate to our chosen charities.
What is your greatest financial win? Buying rental properties and then selling them off later in life.
What is your worst financial mistake? Not buying more sooner in life.
What advice do you have for others? I was 30 years old and wrote a 50-year plan and where I saw myself at the end of it. I then worked back from that age, planning the 2, 5, and 10-year plan on how to get there. In that plan was to retire in my 40s. Made me think seriously about how to accumulate wealth. Budget seriously and invest in a good KiwiSaver plan asap.
What is the point of having a net worth above $1,000,000. What does it mean to you? Sense of freedom, security and living a wonderful life.
Finish these sentences:
If you want to build wealth do this… Follow goal setting advice above. Once the plan was written we put it in a drawer and didn't look at it for years but it actually happened, because the opportunities kept presenting themselves and the mind was now alert to just go for it.
If you want to build wealth avoid doing this… Delaying the journey.