What is your net worth? $1,800,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 39
What region of New Zealand do you live in? Central Otago
How did you accumulate your net worth, what are you invested in? Previously investment property, now index funds/ETFs.
What was your highest average household WEEKLY income after tax? $1,700
What is your career? Administration
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? $750,000
Are you debt free now? YES
Are you in KiwiSaver?: YES
Were you taught about money? NO
What is the most enjoyable thing you do with money? Have choices. Help our kids. Help others.
Do you use your money or your time to help others? YES
What is your greatest financial win? Investment property purchase before property prices went crazy!
Decided to pay off our mortgage before I turned 40.
What is your worst financial mistake? As a 22-year-old, I maxed out my visa card, all $1,500, and had trouble paying it off. When I was single, I didn't save.
What advice do you have for others?:Budget, save and invest.
What is the point of having a net worth above $1,000,000. What does it mean to you? Not a lot, really, as net worth can be easier to achieve today due to house prices. More value to me is the amount of 'cash' (invested) we have available, as this enables us to retire, share with others and do things we enjoy.
Finish these sentences:
If you want to build wealth do this… Draw your picture of what you want. Make a plan to achieve it. Take the steps to achieve it. Then you can colour in your picture.
If you want to build wealth avoid doing this… Not having a plan. Most things in life don't happen without a plan. Dumb debt (car debt, after pay). Spend more than you earn.