What is your net worth? 1,100,000
At what age did you become a net worth millionaire? 44
How did you accumulate your net worth, what are you invested in? Saving, spending wisely, increasing property values. No stock markets investments, but owned a rental property since 2017. We are millionaires on paper only. Almost all is tied up in property.
What was your highest average household WEEKLY income after tax? About $1,200 for my husband. We save all of my income so no weekly income, just a couple of lump sum payments from business account.
What is your career? Run my own business as Immigration 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? $700,000 for family home, 300,000 for rental.
Are you debt free now? YES
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? Mostly parents, but in primary school.
What is the most enjoyable thing you do with money? Go on holiday and go to a cafe for a coffee.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Mostly time. Rotary member since 2018.
What is your greatest financial win? Being mortgage free at 35
What is your worst financial mistake? Investing in managed funds using financial adviser.
What advice do you have for others? You don't need to earn huge sums of money to get ahead financially.
What is the point of having a net worth above $1,000,000. What does it mean to you? Not much, it's money on paper only. Being mortgage free means much more.
Finish these sentences:
If you want to build wealth do this… Spend less
If you want to build wealth avoid doing this… Get into debt