What is your net worth? $4,000,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 30s
What region of New Zealand do you live in? Auckland
How did you accumulate your net worth, what are you invested in? Mostly property but we have about $600,000 of shares/ETFs as well.
What was your highest average household WEEKLY income after tax? Just over $3,000 not including rental property income.
What is your career? Education for me and Air Force for hubby.
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? $1,500,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? We still have debt on investment properties but own some that are debt free or mortgage free.
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Yes, a bit, but I also read heaps of stuff about property investment then in later years share market/ETF investment.
What is the most enjoyable thing you do with money? Holidays (not often enough)
Do you use your money or your time to help others? YES
If YES, can you please elaborate. We sponsor 4 children through World Vision, donate to our church and have a number of other causes we give to.
What is your greatest financial win? Couple of properties we bought that are worth significantly more now.
What is your worst financial mistake? Selling a property that a flipper bought did up and sold about 3 months later for maybe $80,000 more - we should have done the reno!
What advice do you have for others? Property was really good for us in the time that we were doing it but I don't think it stacks up often now. There are some that are still worthwhile but often not.
What is the point of having a net worth above $1,000,000. What does it mean to you? We had planned to be work optional by our mid 40s/50s.
Finish these sentences:
If you want to build wealth do this… Start young and be intentional with your spending.
If you want to build wealth avoid doing this… Wasting money on expensive companies who sell you their products whether it be shares or property.