What is your net worth? About $2,000,000
At what age did you become a net worth millionaire? 40 (ish)
How did you accumulate your net worth, what are you invested in? Three properties, a lot of hard work for a couple of years in a tax free setting (Middle East), coming back with about a million 18 years ago, and not spending it on fast cars, women or men...LOL. Being frugal from then on, even while one partner was earning f**k all while I was a stay at home Dad, lifestyle block farmer, community playcentre Dad etc for 11 years...and even though the main breadwinner income was employed in not for profit, so low wage earner...
What was your highest average household weekly income after tax? Was $250,000 (annually)....but only for about three years. Then it slumped to $40k!
What is your career? Health management and postie (IT contracts for the big bucks...)
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? $30,000
What's the approximate value of your house? Combined properties about $1,500,000 mill (one of them is run down but cool third property by the sea....for kayaking etc)
Are you debt free now? YES
Are you in KiwiSaver? NO
Were you taught about money? YES
If YES, how were you taught? School of hard knocks....LOL. Started reading heaps about debt etc etc in my 40’s.
What is the most enjoyable thing you do with money? Not worry about stuff. It buys the ability to say f**k off to bad employment situations!
Do you use your money or your time to help others? YES
What is your greatest financial win? Sadly property. However it pisses me off it has appreciated so much....(from a social equity point of view)
What advice do you have for others? Go against the “spend and look good” crowd....read the book 'Affluenza'. Consider living with and on much less, make sure possessions don’t own you with debt. For example, a girlfriend of mines husband, bought her a gorgeous car for her birthday....I was jealous. Until one day he lost his job, the car debt still had to be paid, they had added the $70k debt to their mortgage debt, and they took a bath with the resale, getting only 28k for it. So really, he bought her $40k extra debt...not my idea of a loving relationship!
What is the point of having a net worth above $1,000,000. What does it mean to you? Choice
Finish these sentences:
If you want to build wealth do this…Sadly property. Or go overseas (global arbitrage)....even if it’s unskilled work e.g. in the mining industry overseas. Later there is more fun in owning shares.
If you want to build wealth avoid doing this…Spending on fast cars, fast men and women!
Don’t follow the dumb crowd at malls buying crap you don’t need that is bad for both you and the environment!
If these questions don’t adequately tell your story, feel free to briefly elaborate here: Buy second hand everything....we do. So much better value, and recycling other people's crazy choices.
Finally, get a partner who is on board habit wise...with money...or you will be pissed off and poor!