What is your net worth? $1,900,000
At what age did you become a net worth millionaire? Me 49 Husband 45
How did you accumulate your net worth, what are you invested in? Mainly properties. Some shares.
What was your highest average household WEEKLY income after tax? $2,000
What is your career? Own a building company
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? The one we live in is $750,000 but we are adding on and will value at around $900,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $500,000 for three other properties.
Are you in KiwiSaver? YES
Were you taught about money? NO
What is the most enjoyable thing you do with money? Travel, help our children and parents. Donate to I Have A Dream Charitable Trust and Cholmondeley Children’s Centre.
Do you use your money or your time to help others? YES
What is your greatest financial win? Subdividing off some land off our property.
What is your worst financial mistake? Overcapitalising on our last house.
What advice do you have for others? Pay off your mortgage as fast as possible. Sell everything not nailed down!
What is the point of having a net worth above $1,000,000. What does it mean to you? It means we have the security that both our parents never had.
Finish these sentences:
If you want to build wealth do this… Build a new property that you end up with equity in and then pay off the mortgage as fast as you can.
If you want to build wealth avoid doing this… Going to the mall! LOL. Find fun things to do other than shopping and spending money etc. And save first.