Millionaire #43

What is your net worth? $1,035,796

At what age did you become a net worth millionaire? 49

How did you accumulate your net worth, what are you invested in? Have just paid off our property and have made our first instalment in SmartShares. We already had KiwiSaver accounts. Various savings accounts held in a second tier bank.

What was your highest average household WEEKLY income after tax? $2,771

What is your career? Building Consultant

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? $800,000

Are you debt free now? YES

Are you in KiwiSaver? YES

Were you taught about money? YES

If YES, how were you taught? We were taught we had to earn our pocket money and to give some and save some. 

Our parents taught us to save up for things we wanted.

What is the most enjoyable thing you do with money? Travel and give it away (anonymously).

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

What is your greatest financial win? Getting debt free by getting the mortgage paid off.

What is your worst financial mistake? Committing to a retirement savings scheme in our 20s but not insisting the financial advisor disclosed all the fees involved. We discovered how much money was being consumed in fees and we cut our losses and got out. Having had our fingers burned we didn't resume saving for retirement until KiwiSaver came along.

What advice do you have for others? Start saving NOW - no excuses. Realise that saving lets you live life.

What is the point of having a net worth above $1,000,000. What does it mean to you? The figure means nothing, but the fact we are debt free means everything.

Finish these sentences:

If you want to build wealth do this… Financially educate yourself and act on it.

If you want to build wealth avoid doing this… Taking on high interest debt, committing to things you don't fully understand, trying to impress others.

If these questions don’t adequately tell your story, feel free to briefly elaborate here: We are on a journey, and the more we learn, the more passionate we become to see our future goals achieved.

Millionaire #44

Millionaire #42