What is your net worth? $2,300,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire: 44; now both 56.
What region of New Zealand do you live in? Tasman
How did you accumulate your net worth, what are you invested in? Hard work and long hours. Frugal living. Investing early and consistently into index funds and paying off our home.
What was your highest average household WEEKLY income after tax? $2,000
What is your career?: Mariner and factory worker.
Do you have children? YES
Do you have a tertiary qualification? NO
Did you inherit any of your money? NO
What's the approximate value of your house? $1,200,000
Are you debt free now? YES
Are you in KiwiSaver? YES
Were you taught about money? NO
What is the most enjoyable thing you do with money? Being just freehold now, we are hoping to help the kids going forward.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Giving volunteer time. Gifting Christmas cheer.
What is your greatest financial win? Steady time in the market. Wife not a frivolous spender.
What is your worst financial mistake? Sold a rental in our late 20s when wife struggled to manage it with 3 kids. We should have kept it and employed a property manager.
What advice do you have for others? Start early. It is the compounding of the money saved 20 years ago growing our wealth, not what I saved last week.
What is the point of having a net worth above $1,000,000. What does it mean to you? Stability. Ability to ease into retirement instead of continuing work at the pace I have up until now.
Finish these sentences:
If you want to build wealth do this… Start today. Many small changes add up, and 10 years on you really see momentum building.
If you want to build wealth avoid doing this… Changing your car or house often.