What is your net worth? $1,750,000
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 45
What region of New Zealand do you live in? Wellington
How did you accumulate your net worth, what are you invested in? Own home, shares, and KiwiSaver
What was your highest average household WEEKLY income after tax? $7,000
What is your career? Government employees
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? $1,300,000
Are you debt free now? YES
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? The importance of saving.
What is the most enjoyable thing you do with money? Holidays with family, providing good food for the family, opportunities (experiences) for the children.
Do you use your money or your time to help others? YES
If YES, can you please elaborate. My children, including our son with disabilities.
What is your greatest financial win? Being an early saver and buying property at 25 (an apartment) in 2001.
What is your worst financial mistake? Trying to pick individual shares. I wish I had put away even a small amount of money into an index fund regularly while paying off the mortgage (and even before having a mortgage).
What advice do you have for others? Contribute money into an index fund out of every single pay you get.
What is the point of having a net worth above $1,000,000. What does it mean to you? I want choices when I retire, including travel abroad. I want to be able to support my kids into adulthood. Having wealth makes this possible.
Finish these sentences:
If you want to build wealth do this… Consistent and regular investment, which increases with your income.
If you want to build wealth avoid doing this… Excessive materialism.