What is your net worth? $2,200,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 30 + 30
What region of New Zealand do you live in? Auckland
How did you accumulate your net worth, what are you invested in? Two Auckland properties. KiwiSaver. Shares (publically listed). And we are shareholders in a private (employee owned) company.
What was your highest average household WEEKLY income after tax? $5,000
What is your career? Commercial Property Valuer & Urban Planner
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? $1,600,000 + $1,300,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $1,170,000 - Mortgage for rental property
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? By my parents through pocket money and financial books. Business studies at school and a Commerce degree.
What is the most enjoyable thing you do with money? Travel or watching my debt dwindle.
Do you use your money or your time to help others? NO
What is your greatest financial win? Buying a house in Auckland at aged 23 that has benefitted from property rises (though has been extensively renovated and we had flatmates for six years). The second win is getting into well paid careers and partnering up early. The third is having a partner on the same page since we were 20 years old.
What is your worst financial mistake? Fast fashion and being unable to resist a bargain when I was younger.
What advice do you have for others? Spend less than you earn and really think about things before purchase.
What is the point of having a net worth above $1,000,000. What does it mean to you? I have the option of staying home with my children rather than going back to work.
Finish these sentences:
If you want to build wealth do this: Find a good job and spend less than you earn.
If you want to build wealth avoid doing this: Frittering on small things that are 'only $5, $10 etc'.