What is your net worth? $4,205,273
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 54
What region of New Zealand do you live in? Wellington
How did you accumulate your net worth, what are you invested in? Purchased 5 new build homes in 6 years and the last 3 homes were settled in 2021 during Covid. Managed to negotiate really good discounts on the new builds and purchased in excellent areas.
What was your highest average household WEEKLY income after tax? $2,500 total for the both of us.
What is your career? I was a tax investigator and ACC business partner and just retrained as a financial adviser. My husband a sparky (electrician).
Do you have children? YES
Do you have a tertiary qualification? YES
Did you inherit any of your money? NO
What's the approximate value of your house? All homes, 6 values total, is $6,500,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $2,400,000
Are you in KiwiSaver? YES
Were you taught about money? NO. Only self-learning and lots of property webinars and all my tax and ACC experience has got us to this point. We have only just started this journey 7 years ago as we are a new couple after several separations.
What is the most enjoyable thing you do with money? Helping my kids, plus at this stage, trying to pay off our mortgages.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. I have helped a number of my friends to get into their first homes and into investment properties with tax and body corp knowledge.
What is your greatest financial win? Made $500,000 in 12 months from settling a new build property and renovating our family home, and created equity of $900,000 in 4 years.
What is your worst financial mistake? Relying on a financial adviser who was incompetent and couldn't work out our financial situation due to the number of properties and mortgages we hold.
What advice do you have for others? Surround yourself with positive people, and experts, and keep learning. You are never too old to keep learning.
What is the point of having a net worth above $1,000,000. What does it mean to you? Nothing at this point as the challenging part is working toward being freehold.
Finish these sentences:
If you want to build wealth do this: Know your finances; what's coming in and what's going out. And stick to a budget.
If you want to build wealth avoid doing this: Having credit cards and overdrafts and an unlimited access to funds. Set your spending up in another separate account and allocate a set amount per week and stick to that. Save the rest.