What is your net worth? $5,700,000
At what age did you become a net worth millionaire? 39
What region of New Zealand do you live in? Canterbury
How did you accumulate your net worth, what are you invested in? Commercial property
What was your highest average household WEEKLY income after tax? $10,000
What is your career? Aviation
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? $1,400,000
Are you debt free now? YES
Are you in KiwiSaver? NO
Were you taught about money? NO
What is the most enjoyable thing you do with money? Bought my mountain bike. Building an aircraft.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Mentoring
What is your greatest financial win? Selling a commercial property that I received a good offer on.
What is your worst financial mistake? Lost $500,000 USD trading currency.
What advice do you have for others? Start saving early. Don’t try to get rich quickly. Come up with a 20 year plan. Don’t count your house as part of your net worth, it’s just a roof over your head. To get ahead in property you need to own more than one property.
What is the point of having a net worth above $1,000,000. What does it mean to you? There’s no point, it’s just a number and it’s not actually a lot of money. Having health and a fulfilling life are also very important. You can be very happy if you are in control of your finances.
Finish these sentences:
If you want to build wealth do this… Purchase income producing property using debt, during inflationary times.
If you want to build wealth avoid doing this… Speculation.