What is your net worth? $2,100,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 40
What region of New Zealand do you live in? Tasman
How did you accumulate your net worth, what are you invested in? Business sale. Freehold property. Investments in Total World Fund (since only in last year)
What was your highest average household WEEKLY income after tax? $4,000
What is your career? Business owner and management
Do you have children? YES
Do you have a tertiary qualification? NO
Did you inherit any of your money? YES
If YES, how much did you inherit? $400,000
What's the approximate value of your house? $1,300,000
Are you debt free now? YES
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Just to live within our means and not to be flashy, as it’s just stuff.
What is the most enjoyable thing you do with money? Travel
Do you use your money or your time to help others? YES
If YES, can you please elaborate. I help out at the school. I run a few community Facebook groups.
We spend a lot of time with our children and helping at their sport. Mostly tennis.
What is your greatest financial win? Paying off our first home at 34 years old in the UK.
What is your worst financial mistake? Probably paying cash of $1.3 million for our current house. This has given us peace of mind, though, as we have 0 debt. We do crunch the numbers, though, and think we probably should have bought a cheaper house and invested more, but, oh well.
What advice do you have for others? Live frugally where possible. Not worry what others think about your car/house etc. When travelling, do it as cheaply as possible.
What is the point of having a net worth above $1,000,000. What does it mean to you? Peace of mind. Freedom
Finish these sentences:
If you want to build wealth do this… Live frugally and save and invest where you can.
If you want to build wealth avoid doing this… Lifestyle upgrades.