What is your net worth? $9,800,000
At what age did you become a net worth millionaire? Around 42
What region of New Zealand do you live in? Waikato
How did you accumulate your net worth, what are you invested in? Started a business in 2005, this provided cash flow to invest in property and more recently other assets.
What was your highest average household WEEKLY income after tax? $17,500
What is your career? Engineering
Do you have children? YES
Do you have a tertiary qualification? NO
Did you inherit any of your money? NO
What's the approximate value of your house? $3.000,000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? $3,200,000
Are you in KiwiSaver? YES
Were you taught about money? NO
What is the most enjoyable thing you do with money? Since we have more than we need it’s being able to help family, friends and others.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. Both time and money. Volunteer work and providing funds to various friends, family, charities and sports and recreational organisations.
What is your greatest financial win? Creating a good business that provided the opportunity to invest in other areas.
What is your worst financial mistake? Nothing major yet
What advice do you have for others? I heard like everyone that money won’t make you happy. Hard to believe when you don’t have much. But it is so true, however you are wasting your breath telling those who don’t know from first hand experience.
What is the point of having a net worth above $1,000,000. What does it mean to you? Options, security and a safety net.
Finish these sentences:
If you want to build wealth do this… Think and act in long term.
If you want to build wealth avoid doing this… Borrowing money to buy things that don’t appreciate.