What is your net worth? $1,047,634
Are you filling this out as an individual or a couple? Individual
At what age(s) did you become a net worth millionaire? Not sure - around 45 I think
What region of New Zealand do you live in? Auckland
How did you accumulate your net worth, what are you invested in? I have around $355,000 invested in shares and a KiwiSaver growth fund. A mortgage-free property worth around $650,000. I had a very well-paying job in my 40s when I lived overseas. I lost about $600,000 due to financial abuse in my early 50s. Now earning significantly less.
What was your highest average household WEEKLY income after tax? $5,000
What is your career? Insurance
Do you have children? NO
Do you have a tertiary qualification? YES
Did you inherit any of your money? YES
If YES, how much did you inherit? $60,000. I used it to pay down my first mortgage to be mortgage-free in eight years.
What's the approximate value of your house? $650,000
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? Create a lifestyle for myself
Do you use your money or your time to help others? YES
If YES, can you please elaborate. I donate to various charities
What is your greatest financial win? Paying off my first mortgage early. Buying a unit on my return to NZ without a mortgage.
What is your worst financial mistake? Letting the financial abuse situation grow to the extent it did - or indeed letting it happen at all!
What advice do you have for others? Never lend money to someone you love. You'll never get it back.
What is the point of having a net worth above $1,000,000. What does it mean to you? Some level of security, knowing that I have to look after myself; Financial Independence.
Finish these sentences:
If you want to build wealth do this… Start investing early, whatever amount you can on a monthly basis (dollar-cost averaging)
If you want to build wealth avoid doing this… Becoming obsessed with your financial goals. Keep a little to have fun with.