What is your net worth? $1,400,000
Are you filling this out as an individual or a couple? Individual
At what age(s) did you become a net worth millionaire? 32
What region of New Zealand do you live in? Wellington
How did you accumulate your net worth, what are you invested in? Power of compounding interest. Working 60-70hr weeks locuming as a doctor in the UK.
What was your highest average household WEEKLY income after tax? $10,800 (for 3 months)
What is your career? Doctor
Do you have children? YES
Do you have a tertiary qualification? YES
Did you inherit any of your money? YES
If YES, how much did you inherit? £70,000 ($140,000 NZD)
What's the approximate value of your house? I rent
Are you debt free now? YES
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Lessons on not what to do by my parents who have squandered more than I would ever earn as a doctor. Otherwise, I learnt from FIRE blogs and Reddit.
What is the most enjoyable thing you do with money? Knowing my son will be financially secure if anything happens to me, knowing that in a decade or so I will be able to make work optional and say ‘no’.
Do you use your money or your time to help others? NO
What is your greatest financial win? Buying ARM shares prior to their buyout in 2015.
What is your worst financial mistake: Buying a new Tesla.
What advice do you have for others? Use compound interest to your advantage. Open investing accounts for your children.
What is the point of having a net worth above $1,000,000. What does it mean to you? It means options, it means worrying less about other aspects of life.
Finish these sentences:
If you want to build wealth do this… Earn early and invest for the long run.
If you want to build wealth avoid doing this… Decouple consumption from happiness.