Millionaire #180

What is your net worth? $4,200,000

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

At what age(s) did you become a net worth millionaire? Unsure....mid to late 40s, probably?

What region of New Zealand do you live in? Auckland.

How did you accumulate your net worth? What are you invested in? I am an excellent saver, but I have made some horrendous mistakes. Paid off the mortgage on our main house, a lifestyle block in South Auckland. Paying off the mortgage on a rental. Invested in direct shares in NZ/Aus. We also have Managed Funds.

Last 20+ years, we have worked in high-income jobs with low outgoings due to the package offered.

What was your highest average household WEEKLY income after tax? $4,500

What is your career? Engineering, oil & gas and other high-risk occupations.

Do you have children? NO

Do you have a tertiary qualification? NO

Did you inherit any of your money? YES

If YES, how much did you inherit? $1,800,000

What's the approximate value of your house? $1,800,000 to $2,200,000

Are you debt free now? NO

If NO, how much debt do you have and what is it for? $520,000 on rental property.

Are you in KiwiSaver? YES

Were you taught about money? NO

If YES, how were you taught? Don't spend it if you don't have it! Grew up in split marriage with a solo mum on a farm.

What is the most enjoyable thing you do with money? Go on holiday overseas. And share with my friends.

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

If YES, can you please elaborate: Do a fair amount of volunteer work. My wife is in Inner Wheel Club. She also works for Headway Brain Injury Trust.

What is your greatest financial win? My job.

What is your worst financial mistake? The wrong women.....and not listening to the little voice in my head.

Not overriding my adviser when she told me to hold on when I said, “Sell Bridgecorp".

What advice do you have for others? School yourself up, take advice. But remember, they can get it wrong too.

If it can go up in value, borrow? For land etc. If it can go down (depreciate), such as a car, then pay cash.

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

$2,500,000 million is the "feck you number" see below link.....very true. Warning: clip contains bad language: https://www.facebook.com/reel/773416380866943

Finish these sentences:

If you want to build wealth, do this… Have a goal. Buy property. Start a business.

If you want to build wealth, avoid doing this… Get involved in get-rich-quick schemes/pyramid schemes or anything that is not selling a product. If there is no product...you are the product.

If these questions don’t adequately tell your story, feel free to elaborate here briefly: I was raised, along with my sister, by my mum. We lived on my grandfather's farm in a small rural town. My mum bought us clothes to grow into and took them in at the waist etc., so as to let them out as we grew. This taught me a work ethic and that the world owes you nothing! Money was never really talked about, other than the compulsory school savings. I did a trade but lacked confidence and a good financial role model. So probably a rather tight spender when young. I had a friend whose brother worked overseas. I liked the look of that work/travel. After going as far as I could in my career in engineering, I left and backpacked Asia. I then got work with diving companies (I door knocked on Loyang Offshore Supply Base in Singapore). This led to a change in mindset. More, easy come, easy go. And the importance of putting regular savings away and having contingency funds. And having a bit of a goal to work toward.

Millionaire #181

Millionaire #179