Millionaire #72

What is your net worth? $1,350,000 (combined husband and wife)

At what age did you become a net worth millionaire? I have no idea! I only started tracking it this year. I’m guessing at age 33 but my husband is 40.

How did you accumulate your net worth, what are you invested in? Own our own home outright, two investment properties and a smaller amount in shares. We both have KiwiSaver and MFL retirement funds.

What was your highest average household WEEKLY income after tax? $5,465

What is your career? Both in IT

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? $1,160,000

Are you debt free now? NO

If NO, how much debt do you have and what is it for? Our investment properties are both on full interest only mortgages, as we use any equity gained to reinvest into buying other properties.

No consumer debt or mortgage on our own home though.

Are you in KiwiSaver? YES

Were you taught about money? YES

If YES, how were you taught? My Mum always encouraged us to buy property but I was never taught the actual numbers. I knew about interest and mortgages from playing Monopoly as a kid and if we ever needed money my Mum would charge us interest.

Everything else I have learnt is self taught and using a property coach.

What is the most enjoyable thing you do with money? Travel and not worry about how to pay for anything unexpected.

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

If YES, can you please elaborate. Yes but only through donations when people ask me to donate. Although I’ll only donate to registered charities.

What is your greatest financial win? Paying off our home mortgage and getting decent promotions/pay rises at work.

What is your worst financial mistake? Not starting earlier

What advice do you have for others? Start investing early and often. As soon as you get your first job, start investing even if it’s only $5-$20 a week. Oh and budget. Know what you’re spending!

What is the point of having a net worth above $1,000,000. What does it mean to you? The power to stop working and live the life we want to live if we choose.

Finish these sentences:

If you want to build wealth do this… Invest in passive funds (index/ETFs) for the long term.

If you want to build wealth avoid doing this… Never spend more than you earn.

Millionaire #73

Millionaire #71