What is your net worth? 8,500,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 41 and 47
What region of New Zealand do you live in? Auckland
How did you accumulate your net worth, what are you invested in?
Male (networth $4.2m) - Property, property development, latterly investment (managed funds), KiwiSaver.
Female (networth$4.3m) - Inheritance ($1.0m), investment property x3, managed funds, KiwiSaver.
We don’t own a house that isn’t at least partially rented out.
What was your highest average household WEEKLY income after tax? $5,000
What is your career? Occupational therapist and sales rep
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? $1,000,000
What's the approximate value of your house? $1,600,000
Are you debt free now? YES
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Taught to save and live within means. Woefully under taught about investing.
What is the most enjoyable thing you do with money? We retired!! At 49. We now travel NZ (and next year branching into Australia), house and pet sit on a voluntary basis. We have daily coffees out!!
Do you use your money or your time to help others? YES
If YES, can you please elaborate. We house and pet sit. We’re very time-rich, so visit and help out family and friends whenever we can (which is a lot!).
What is your greatest financial win? Paying off our mortgages as early as we could.
What is your worst financial mistake? Not understanding how investing works and taking sooo long to get involved with it.
What advice do you have for others?
See your mortgage as an overdraft (i.e. pay off as fast as possible)
Invest in growth funds from a young age
Give KiwiSaver funds as a present to the next generation
Live within your means
Be creative and goal directive (i.e. house sitting)
Gen up on your financial literacy
What is the point of having a net worth above $1,000,000. What does it mean to you? We can stop work! We live on $1,000 per week, which includes saving $250 per week, $15-$20 per day at coffee shops (supporting local 😉), and eating out when we feel like it. We have at least one overseas holiday per year.
Finish these sentences
If you want to build wealth do this… Invest in growth funds from a young age.
If you want to build wealth avoid doing this… Getting a credit card or getting into consumer debt.
If these questions don’t adequately tell your story, feel free to briefly elaborate here: We’re so happy to be financially stable and be able to make our own financial choices (including being able to work if we wanted). Deciding to become house sitters might not be everyone’s cup of tea, but has given us so many wonderful opportunities. Thanks for reading 😀😀