What is your net worth? $3,700,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? We became millionaires in 2017
What region of New Zealand do you live in? Auckland
How did you accumulate your net worth, what are you invested in? Real Estate
What was your highest average household WEEKLY income after tax? 2017 was our best year, an outlier year, $136,000 net after tax household income ($2615 per week). So other than one year our household income was generally speaking since 2010 to 2022 $60-$65k gross for myself, and $60-$65 gross for my partner.
What is your career? Part-time Cash in Transit driver, Full-time Customer Service Manager
Do you have children? YES
Do you have a tertiary qualification? NO
Did you inherit any of your money? YES
If YES, how much did you inherit? $200,000
What's the approximate value of your house? $1,800,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? Rental Property Mortgage $2,700,000
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Parents to a degree but not overly taught.
What is the most enjoyable thing you do with money? Invest to grow and provide further opportunities.
Do you use your money or your time to help others? NO
What is your greatest financial win? Growing my personal wealth from $1 million in 2017 to $4.7 million in today’s date (Feb 2022).
What is your worst financial mistake? Gambled $13,000 after building it up from $500 of my own money, only to lose it all.
What advice do you have for others? Get investing early and stay on track. It’s like losing weight, you don’t reach your goal without sustained focus and most importantly, consistency.
What is the point of having a net worth above $1,000,000. What does it mean to you?: It means time. It also means money I can use to help my three daughters work to buy a home each. I do what I do today for them, and that’s what drives me each and every day.
Finish these sentences:
If you want to build wealth do this… Work hard at an early age, have a positive attitude and believe that you can make it BUT that success comes with consistency and effort because if it was easy we’d all do it. Once you are earning ensure to invest in assets or shares and ensure you do your homework on investment classes.
If you want to build wealth avoid doing this… Following the crowd i.e. NFTs and crypto. Ask yourself, “if it’s that easy everyone would do it and everyone would be wealthy”. Look for fishhooks and understand the value of what you're buying (supply and demand).
Do you have anything else to add?: I’m personally quite passionate about investment and would love for other people, somehow in this world, have more exposure to financial literacy. In particular Maori/Pasifika as they make up the nucleus of state dependant families on a per capita basis. I’m of Maori descent myself, as is my partner, and if I could change the world today it would be providing real life tools in our education system to ensure all kids have what they need to succeed. It all starts in the classroom and I don’t think enough attention or spotlight is placed on this.