What is your net worth? $1,540,932
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 58
What region of New Zealand do you live in? Auckland
How did you accumulate your net worth, what are you invested in? Twice a house we owned/lived in and sold for about $300,000 more than it was purchased for. I have been investing 1.5 years.
What was your highest average household WEEKLY income after tax? $80,000 ($1,538 week gross?)
What is your career? Nursing
Do you have children? YES
Do you have a tertiary qualification? YES
Did you inherit any of your money? YES
If YES, how much did you inherit: $35,000 from mum, and $60,000 from mum-in-law.
What's the approximate value of your house? $985,000
Are you debt free now? YES
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? I taught myself in the last 1.5 years, reading and seeking how to invest well. I also spoke to a friend who made money from property.
What is the most enjoyable thing you do with money? Be with my grandkids. Spend it - maybe at the op shop.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. NZ and international christian charities.
What is your greatest financial win? Selling the houses
What is your worst financial mistake? I had shares when I was 24, but I lost the lot.
What advice do you have for others? Learn
What is the point of having a net worth above $1,000,000. What does it mean to you? Security, opportunity and the freedom to do what I want.
Finish these sentences:
If you want to build wealth do this… Invest part of your income in diverse index funds with low fees.
If you want to build wealth avoid doing this… Buying stuff on hire purchase or spending all your earnings.
If these questions don’t adequately tell your story, feel free to briefly elaborate here: When my adult children lived at home, they paid board, and this helped us pay off our mortgage quickly on two subsequent houses. They also cooked once a week and did their own laundry.