What is your net worth? $1,150,000
Are you filling this out as an individual or a couple? Individual
At what age(s) did you become a net worth millionaire? 48
What region of New Zealand do you live in? Christchurch
How did you accumulate your net worth, what are you invested in? Consistently investing 33% + of NET wage into well diversified ETF's. Mainly VTI, VEU, with a smaller mix of AUS/NZ, AI/Tech, Bitcoin and a couple of individual stocks. Overpaying on home mortgage. Kiwisaver from the beginning.
What was your highest average household WEEKLY income after tax? $1,850
What is your career? Project Manager
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? $725,000 (half share)
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $35,000 on mortgage
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Self-taught investing through the internet/blogs about 9 years ago. Mr Money Mustache, JL Collins etc…
What is the most enjoyable thing you do with money? Travelling, having experiences and not worrying about buying all the new outdoor gear. Especially running shoes.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Charity donations.
What is your greatest financial win? Consistent aggressive investing during Covid/lockdown. 2020/21 was white knuckle ride that paid off nicely.
What is your worst financial mistake? Bought a house at the top of the market and sold close to the bottom. Six months after I sold the same property, it had almost doubled in value.
What advice do you have for others? Be consistent, invest monthly no matter what the market is doing and buy good quality stock/ETF's. lgnore the negative news/doom scrolling.
What is the point of having a net worth above $1,000,000. What does it mean to you? Peace of mind, freedom and contentment.
Finish these sentences:
If you want to build wealth do this… Start investing now with whatever you can afford and don't stop.
If you want to build wealth avoid doing this… Picking individual stocks can be very risky, investing in friends or family businesses could turn nasty, anything which is "too good to be true" or not starting at all.