Millionaire #27

What is your net worth? $1,900,000

At what age did you become a net worth millionaire? 50

How did you accumulate your net worth, what are you invested in? Getting rid of mortgage/s as fast as possible. Investing initially in individual stocks & progressing to Global & Local ETF's. Taking advantage of employees super schemes and maxing KiwiSaver. Rental property for six years but decided it wasn't for us. 

Reviewing our spend on a monthly basis.

What was your highest average household WEEKLY income after tax? Highest Is currently now $2,400

What is your career? Finance

Do you have children? NO

Do you have a tertiary qualification? NO

Did you inherit any of your money? YES

If YES, how much did you inherit? $75,000

What's the approximate value of your house? $600,000

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? Buying our future freedom. Not much fun now but it sure will be soon. Enjoy the outdoors which is great bang for your buck. Limited international travel & creating memories.

Do you use your money or your time to help others? YES

What is your greatest financial win? Meeting someone with the same financial outlook and both looking to the future.

What is your worst financial mistake? Bailing out of the stock market after the '87 crash. Learnt my lesson!

What advice do you have for others? Don't spend beyond your means. Get rid of debt as soon as possible. You don't need to know everything to start investing. “Doing” is a great teacher but don't bet your house. Don't get cold feet when the market goes down - Hang in there.

What is the point of having a net worth above $1,000,000. What does it mean to you? FREEDOM!!!

Finish these sentences:

If you want to build wealth do this… Been said many times. Spend less than you earn and invest the balance. Chase things that truly make you happy. Spoiler alert - It's not STUFF!

If you want to build wealth avoid doing this… Avoid comparing yourself to others. Someone will always be better off than you. Don't spend your money on STUFF to make you happy, the happiness of buying fades fast.

If these questions don’t adequately tell your story, feel free to briefly elaborate here: Although my parents didn't teach me about finance directly, having to sell the family home after my father’s death to pay off family debt meant I wasn't going to have that happen to me again. Countdown - only a few months to go before we are pulling the trigger for retirement!

Millionaire #28

Millionaire #26