What is your net worth? $1,300,000
At what age did you become a net worth millionaire? 35
How did you accumulate your net worth, what are you invested in? Property, shares and KiwiSaver
What was your highest average household WEEKLY income after tax? $2,000
What is your career? Customs Broker
Do you have children? NO
Do you have a tertiary qualification? YES
Did you inherit any of your money? YES
If YES, how much did you inherit? Approx $35,000
What's the approximate value of your house? $1,200,000
Are you debt free now? NO
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Parents taught me how they managed theirs and what they invested in.
What is the most enjoyable thing you do with money? I love to go on holidays! But equally I love saving lump sums to pay off the mortgage and watch it come down faster.
Do you use your money or your time to help others? YES
What is your greatest financial win? Buying a property back when the rental income covered a 15 year mortgage and all expenses.
What is your worst financial mistake? Moving to Australia for a year, it cost a lot to move and my income halved.
What advice do you have for others? You don't need to have the biggest and flashiest new thing out, don't eat out regularly - make it a treat. Travel, but do it wisely. I always try to stay somewhere self catering as meals are such a needless expense.
What is the point of having a net worth above $1,000,000. What does it mean to you? Financial security and independence. I want to have options at retirement to go out and do things, not just get by.
Finish these sentences:
If you want to build wealth do this… Find ways to save a few dollars in several different places. It all adds up.
If you want to build wealth avoid doing this… Take out a mortgage with a 30 year term or keep re borrowing for new cars when the value of your house rises.