What is your net worth? $1,100,000 last time I checked.
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 37 and 39
What region of New Zealand do you live in? Waikato
How did you accumulate your net worth, what are you invested in? Own my own business (our primary wealth accumulator), and we own two properties (not in Auckland). We invest in shares and a small amount of Bitcoin.
What was your highest average household WEEKLY income after tax? $2,500
What is your career? Pharmacist and Operations Manager at a steel fabricators.
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? $650,000. I estimate lower than probably market value to be conservative. I do this in case the market drops, then our net worth isn't really affected. So therefore, it is probably higher than stated.
Are you debt free now? NO
If NO, how much debt do you have and what is it for? Total across all debts, is approx $1,200,000 evenly split across property and my business mortgage. There is approx five years left on business mortgage.
Are you in KiwiSaver? YES
Were you taught about money? NO
If YES, how were you taught? I took it upon myself to learn, and I set a goal to be a millionaire by 40. I listen to a lot of podcasts, read books, and watch YouTube etc.
What is the most enjoyable thing you do with money? Spend time with my family.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Give freely to those in need, even those begging on street. If I have the ability, I feel like I should. If money goes out, it will come back to me. I also donate large portions via my business.
What is your greatest financial win? Buying my business with zero deposit (my then business partner went guarantor, and I then bought him out). Also, buying a half-acre beach section for bugger all in Feb 2020, RIGHT before covid came and skyrocketed prices. We now have a rustic bach built for $30,000 and it’s more than doubled in value.
What is your worst financial mistake? Getting into a relationship with a money-hungry narcissist who I had my son with and I was just a paycheque. Took me for all I was worth during the split.
What advice do you have for others? Pay attention to the basics. They set amazing habits, then it's easy. Going without ultimately means having freedom earlier.
What is the point of having a net worth above $1,000,000. What does it mean to you? Freedom. Currently on maternity leave. Just turned 40, hoping to retire by 50 or mid-50s. Definitely already thinking of slowing down to spend time with the kids. And not have to worry about paying the bills.
Finish these sentences:
If you want to build wealth do this: Focus on attaining assets. And start investing early, do it regularly, and do not stop.
If you want to build wealth avoid doing this: Fritter money away on materialistic stuff that are not assets.
If these questions don’t adequately tell your story, feel free to briefly elaborate here: I am a young female in a male-dominated career. I'm also gay. I was always the underdog. To make big money, I believe you have to take big risks. But I had the BELIEF that it would work and I would be a millionaire. I knew I would. In my soul, I knew it. And now I am. I took opportunity that was presented, and if things aren't going right I have no bailout. I burned the boats to storm the beach, there is no retreat. So I always find a way to make it work. There is no other option.