What is your net worth? $1,365,000
At what age did you become a net worth millionaire? Late 40s
What region of New Zealand do you live in? Canterbury
How did you accumulate your net worth, what are you invested in? Worked hard overseas and in NZ for a decent house deposit then paid a little extra on the mortgage each fortnight but I also invest in KiwiSaver and other index funds.
What was your highest average household WEEKLY income after tax? $3,000
What is your career? Accountant
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? $1,000,000
Are you debt free now? YES
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? I was taught by my family to work hard and save but the missing part was how to invest rather than keeping all the money in the bank or buying a house.
What is the most enjoyable thing you do with money? Not having to stress or think about it on a daily basis and then having the funds available to pay cash for a holiday or car.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Donate money each month to a number of causes and time to school/community events.
What is your greatest financial win? Getting a foot on the property ladder and discovering finance blogs such as The Happy Saver.
What is your worst financial mistake? Investing 10% of my salary in an AMP superannuation scheme when I first started working. The fees were horrendous and I was tied in for a number of years as the value kept going down.
What advice do you have for others? There is no quick way to get rich for most people, it takes committed saving and time.
What is the point of having a net worth above $1,000,000. What does it mean to you? Security and options for the family.
Finish these sentences:
If you want to build wealth do this… It takes time but spend less than you earn and invest the difference in index funds.
If you want to build wealth avoid doing this… Avoid lifestyle creep in your 30s and 40s by forgetting about keeping up with the Jones.