What is your net worth? $4,000,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 40
What region of New Zealand do you live in? Auckland
How did you accumulate your net worth, what are you invested in? Accumulated by property investment and a high paying job. Now switching to small businesses.
What was your highest average household WEEKLY income after tax? $4,500
What is your career? Banking
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? $2,000,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $2,500,000. Supports a commercial property and our childcare business.
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Parents owned a small business. I listened in to them and their accountant. This led to me majoring in Business Finance at uni.
What is the most enjoyable thing you do with money? Support family and travel internationally.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Support my family through their studies.
What is your greatest financial win? A $250,000 annual bonus, but property gains trump all.
What is your worst financial mistake? Investing in a heritage building that was too expensive to renovate.
What advice do you have for others? Have a vision for your future with your whānau. Aim high, enrol others and plan to get there early.
What is the point of having a net worth above $1,000,000. What does it mean to you? Partly it’s an ego thing/ keeping score, but its main use is to buy time and experiences with my whānau.
Finish these sentences:
If you want to build wealth do this: Buy property and build businesses. Learn to sell.
If you want to build wealth avoid doing this: Confusing investment and consumption.