What is your net worth? $1,500,000
Are you filling this out as an individual or a couple? Individual
At what age(s) did you become a net worth millionaire? 37
What region of New Zealand do you live in? Taranaki
How did you accumulate your net worth, what are you invested in? Savings from job. Two houses I bought in 2019 and 2022, initially lived in, then rented. I have had capital gains but kept the estimate of their worth close to the purchase price. I have ETFs (Vanguard on InvestNow/Interactive Brokers: VAS, VOO, VEU.)
What was your highest average household WEEKLY income after tax? $8,000
What is your career? Doctor
Do you have children? NO
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? A mortgage $312,000
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Mostly to save it. Have had to institute ‘guilt free spending’ amount to be less hopelessly frugal.
What is the most enjoyable thing you do with money? Make my life easier. For example, own a car, buy something I want or need, and TRAVEL.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. I donate <$200 year. I keep thinking I will up this once have no debt. I was a SAR (search and rescue) volunteer when lived in NZ. I do mentorship at work.
What is your greatest financial win? Probably buying a house and getting capital gains (if that does get locked in)
What is your worst financial mistake? Taking money out of ETFs during the post Covid-19 share market slump.
What advice do you have for others? Start early: ETFs are low fee, low time input, and low maintenance.
What is the point of having a net worth above $1,000,000. What does it mean to you? Greater financial freedom, and working part-time gives me great happiness.
Finish these sentences:
If you want to build wealth do this… Start early, ETFs are low fee, low time input and low maintenance.
If you want to build wealth avoid doing this… Taking on consumer debt, having high-interest loans, and not having an emergency fund.