What is your net worth? $1,160,000
At what age did you become a net worth millionaire? 47
What region of New Zealand do you live in? Horowhenua
How did you accumulate your net worth, what are you invested in? Property mainly
What was your highest average household WEEKLY income after tax? $1,200
What is your career? Truckdriver/property developer
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? $900,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $670,000 for a property development project.
Are you in KiwiSaver? YES
Were you taught about money? NO
What is the most enjoyable thing you do with money? Weekends away, charity and not having to work as hard.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. I try to give 5% of my income to charity. The book, The Life You Can Save by Peter Singer is my inspiration.
What is your greatest financial win? Property sales that have exceeded expectations.
What is your worst financial mistake?: Paying life insurance when I was young.
What advice do you have for others? Spend a little, save a little. Don’t have debt for depreciating items.
What is the point of having a net worth above $1,000,000. What does it mean to you? Gives me freedom to choose what I want to do with my time and money.
Finish these sentences:
If you want to build wealth do this… Save hard and buy a house with potential to add value or subdivide.
If you want to build wealth avoid doing this… Having personal debt on depreciating items, cars etc