What is your net worth? Approx $2,500,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? Approx 38 & 34. It possibly happened earlier as was tied up in business/rental property and not calulated in detail.
What region of New Zealand do you live in? Auckland
How did you accumulate your net worth, what are you invested in? UK rental properties, UK business development and sale, employment, pension/KiwiSaver schemes, and unfortunately a total and permanent disability payment.
What was your highest average household WEEKLY income after tax? Approx $3,500 (current)
What is your career? Veterinarian (business owner for 8 years) and Road Maiintenance manager
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? $1,400,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $260,000 approx for UK buy to let mortgages.
Are you in KiwiSaver? YES
Were you taught about money? NO
If YES, how were you taught? Not specifically taught, but parents managed money ok.
What is the most enjoyable thing you do with money? Family holidays at the beach.
Do you use your money or your time to help others? NO
If YES, can you please elaborate. We have gifted some money to adult children (reasonably small amounts).
What is your greatest financial win? Our business, rental property and income protection insurance.
What is your worst financial mistake? Not buying NZ property earlier (before heading overseas).
What is the point of having a net worth above $1,000,000. What does it mean to you? Hopefully we can retire a bit earlier, and have a secure financial future.
Finish these sentences:
If you want to build wealth do this… Steady and slow, and well managed risk.
If you want to build wealth avoid doing this… Buying crap!
If these questions don’t adequately tell your story, feel free to briefly elaborate here: We feel lucky to have got a good financial base in place, plus income protection insurance in place as now not working due to health reasons. Luckily partner has good job or would still be a struggle.