What is your net worth? $1,215,000
At what age did you become a net worth millionaire? 41
How did you accumulate your net worth, what are you invested in? Most of this is house value, quite a bit is capital gain. Also we have money in KiwiSaver, index funds and single holding shares.
What was your highest average household weekly income after tax? $3,200
What is your career? IT manager and Laboratory technician
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? $65,000
What's the approximate value of your house? $850,000
Are you debt free now? YES
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? That you have to work hard for your money. That you need to spend less than you earn. That you should invest in shares. That you need to save for retirement.
What is the most enjoyable thing you do with money? Own a yacht so we can go sailing and an overseas holiday every couple of years.
Do you use your money or your time to help others? YES
What is your greatest financial win? A good income.
What is your worst financial mistake? Buying a beach house.
What advice do you have for others? Always save or pay extra off your mortgage. If you get extra money like a bonus or redundancy payment, save most of it.
What is the point of having a net worth above $1,000,000. What does it mean to you? Not having to worry about money. Having the possibility of retiring before 65 or working less hours in the lead up to retirement or doing a less stressful job.
Finish these sentences:
If you want to build wealth do this… Spend less than you earn.
If you want to build wealth avoid doing this… Being a mindless consumer.