What is your net worth? $2,565,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 37 and 44
What region of New Zealand do you live in? Auckland
How did you accumulate your net worth, what are you invested in? Property, shares (ETFs and mutual funds) and KiwiSaver
What was your highest average household WEEKLY income after tax? $5,715
What is your career? Consultant (technology)
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? $1,300,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $1,512,000 owing on investment properties only.
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Invest early, don’t spend everything you earn. Use debt wisely - leveraging is key. I was taught about interest at an early age. Also, never to go into debt on items except a mortgage. So no car payments, etc.
What is the most enjoyable thing you do with money? Hands down it is travel.
Do you use your money or your time to help others? NO
If YES, can you please elaborate. Not my time but I donate.
What is your greatest financial win? My career. I’ve been worked so hard and this is what has gained me the most - both with income but it’s also allowed me to borrow because of my serviceability capacity.
What is your worst financial mistake? Not investing earlier or being too conservative in my 20s and not understanding my numbers. I bought property ‘just because’. I never had a game plan until my mid 30s.
What advice do you have for others? Focus on increasing your earning potential and once you’ve covered the basics, invest, invest, invest. You don’t have to have an Instagram worthy home.
What is the point of having a net worth above $1,000,000. What does it mean to you? Financial independence. The ability to not be tied to a job I don’t like. To remove stress and anxiety around bills.
Finish these sentences:
If you want to build wealth do this… Invest the difference between what you earn and spend.
If you want to build wealth avoid doing this… Spending above your means. Never use credit for wants.