What is your net worth? $7,056,000
At what age did you become a net worth millionaire? 30
What region of New Zealand do you live in? Auckland
How did you accumulate your net worth, what are you invested in? Starting a business
What was your highest average household WEEKLY income after tax? $3,365
What is your career? Semi-retired
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? $330,000
What's the approximate value of your house? $3,300,000
Are you debt free now? No
If NO, how much debt do you have and what is it for? $539,000
Are you in KiwiSaver? Yes
Were you taught about money? No
What is the most enjoyable thing you do with money? Enjoy our bach/lifestyle block.
Do you use your money or your time to help others? No
What is your greatest financial win?: Selling our business
What is your worst financial mistake? Selling a commercial building at the wrong time.
What advice do you have for others? Focus on the big financial picture and be mindful of where your money goes.
What is the point of having a net worth above $1,000,000. What does it mean to you? Financial freedom and the ability to retire early if we so wish.
Finish these sentences:
If you want to build wealth do this… Focus on assets that will produce a passive income which in turn will become your main income.
If you want to build wealth avoid doing this… Spending on big ticket fun things before having an income producing asset base.