What is your net worth? $1,250,000
At what age did you become a net worth millionaire? 39 (ish)
How did you accumulate your net worth, what are you invested in? Working in high earning jobs, buying our homes in sought after locations and paying off mortgages quick, with a small amount of share investing through Simplicity and our super schemes.
What was your highest average household WEEKLY income after tax? $3,500
What is your career? Public servants
Do you have children? YES
Do you have a tertiary qualification? YES
Did you inherit any of your money? YES
If YES, how much did you inherit? About $50,000
What's the approximate value of your house? $1,050,000
Are you debt free now? NO
Are you in KiwiSaver? YES
Were you taught about money? NO
What is the most enjoyable thing you do with money? My husband buys books and music and I buy plants for the garden.
Do you use your money or your time to help others? YES
What is your greatest financial win? Buying a small starter house in a good location and staying there for a long time. We bought much less house than we could afford and paid the mortgage off in about five years. When we finally upsized, we did it up and staged the house ourselves and got twice what we paid for it 12 years previously.
What is your worst financial mistake? Lending a large sum to a friend when I was young. Lost both money and the friend. Also, getting involved in multi level marketing. Total scams.
What advice do you have for others? We don't spend a lot of time thinking about money. We set up good systems and everything just happens automatically. Bill's get paid and money gets invested while we are busy with our boys.
What is the point of having a net worth above $1,000,000. What does it mean to you? The best thing is not ever having to worry or argue about money. Both our parents did that and it made everyone miserable. Having money gives you choices and allows you to focus on what matters to you in life. I spent nine years being a full time parent because we had no mortgage and it was great.
Finish these sentences:
If you want to build wealth do this… Learn that buying stuff doesn't make you happy.
If you want to build wealth avoid doing this… Buying anything that makes you look wealthy.