Millionaire #155

What is your net worth? $3,800,000

Are you filling this out as an individual or a couple? Couple

At what age(s) did you become a net worth millionaire? 35

What region of New Zealand do you live in? Auckland

How did you accumulate your net worth, what are you invested in? Currently mostly tied up in house in Auckland ($2.3m equity), $400k in KiwiSaver, $1m in business, $150k in furniture, cars etc

What was your highest average household WEEKLY income after tax? $7,000

What is your career? Husband is an engineer

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? $3,500,000

Are you debt free now? NO

Are you in KiwiSaver? YES

Were you taught about money? YES

If YES, how were you taught? Dave Ramsey

What is the most enjoyable thing you do with money? Skiing

Do you use your money or your time to help others? YES

If YES, can you please elaborate. We gift wherever we can. For example, we paid a friend’s daughters private school fees for a term.

What is your worst financial mistake? Borrowing money from parent (when younger) when we should have sold our home to clear debt, credit cards, revolving credit, student loans, and car debt.

What advice do you have for others? Don’t go into debt for any reason. Work and save up cash to go to uni because you will appreciate it more. Credit cards are poison. Car debt and hire purchase is criminal!

What is the point of having a net worth above $1,000,000. What does it mean to you? Security for our future

Finish these sentences:

If you want to build wealth do this: Live within your means. Be humble. Never ever borrow, unless it’s for a house to live in.

If you want to build wealth avoid doing this: Credit cards, revolving credit, car debt, hire purchase - avoid them all.

Millionaire #156

Millionaire #154