What is your net worth? $1,031,000
At what age did you become a net worth millionaire? 32
What region of New Zealand do you live in? Central Plateau
How did you accumulate your net worth, what are you invested in? Owner occupied house, ETFs, Sharesies
What was your highest average household WEEKLY income after tax? $2,475
What is your career? Agricultural Rural Professional.
Do you have children? NO
Do you have a tertiary qualification? YES
Did you inherit any of your money? NO
What's the approximate value of your house? $866,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? Mortgage of $172,000
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? My mother was an accountant so helped guide me in money education. We had a dress allowance from the age of 15, so had a limited budget for everything we wanted. Mum and dad paid for school related costs and medical expenses, and there was always food at home. Everything else we had to pay for ourselves.
What is the most enjoyable thing you do with money? We like food… but prefer home cooking, not restaurants.
Also running a boat is not cheap….
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Sporadic good deeds when someone doesn’t expect it. We have a “pay it forward” attitude.
What is your greatest financial win? Buying our house aged 28.
What is your worst financial mistake? Waiting to buy our home, and renting longer when we could afford to buy.
What advice do you have for others? Know where you stand. Understand your financial position, net worth, debt levels, and how much you spend.
What is the point of having a net worth above $1,000,000. What does it mean to you? It’s working towards being financially free and able to make lifestyle choices.
Finish these sentences:
If you want to build wealth do this… Start early, and save.
If you want to build wealth avoid doing this… Spending for the sake of keeping up with The Joneses.