This month's FMA Investor Profile features Te Kahukura Boynton, (Te Whakatōhea, Ngāti Kahungunu, Ngāi Tūhoe) an 18-year-old Waikato law student on a mission to empower Māori to become financially independent through her investing and self-development platform ‘Māori Millionaire’.
Imagine being fresh out of high school and having your own diversified portfolio worth $15,000 and a successful online content platform aimed at making investing more accessible to Māori.
That’s what Te Kahukura Boynton has achieved – and all before her nineteenth birthday.
“I grew up reading books like Rich Dad Poor Dad, The Cashflow Quadrant and The 7 Habits of Highly Effective People,” says Te Kahukura. “From there, I developed an interest in investing and making my money grow, which allowed me to start investing in KiwiSaver when I was 14, foreign exchange when I was 16, and Sharesies when I was 17.”
Te Kahukura now invests by drip-feeding $100 per week into a variety of ETFs and managed funds. “I like to invest in funds because they diversify risk among different companies.”
She says the best investing advice she’s ever received is two-fold: one, that there is no such thing as a get-rich quick scheme; and two, that there are benefits to using dollar-cost averaging, where you regularly invest a certain amount and buy regardless of whether prices are low or high, thereby smoothing out fluctuations.
“It's way smarter to dollar-cost average for long-term gains, as opposed to getting into risky and speculative investments which promote getting rich quick.”
“I like to protect myself by investing in non-speculative investments,” she says, “Investing for the long-term and with dollar-cost averaging, I’m able to ride out the lows and mitigate the risks of having to pull out during a low.
"I adopt the buy-and-hold philosophy because it works. Great investors like Warren Buffet use these methods because they are proven over time to make profits over the long-term."
Te Kahukura is also a huge advocate for investing in yourself, which she believes pays the biggest returns.
“We are vehicles for whatever goals we have, and if we don’t take care of ourselves first then we won’t be able to meet these goals.
“Health is wealth, and health means investing in yourself!”
She’s also a big fan of living below your means. “Even if you're not that into personal finance I think it’s something good to live by regardless, because it teaches us to be grateful for what we have.”
Te Kahukura likes to keep her expenses low so she can invest the remainder of her income. “I also like to reinvest my gains and dividends to take advantage of compound interest.”
This links into her favourite investing motto which is to “suffer for the short term for the long-term gains,” showing that even at a young age she has a firm grasp on the idea of delayed gratification.
Her blog and podcast is called ‘Māori Millionaire’ which shares basic financial information for beginners to learn how to better manage their money.
“I’m on a mission to empower Māori to become financially independent because I believe that this would be revolutionary for my culture,” she says.
Time is on her side too – to reach her own goals and inspire many others along the way.
*The views and opinions expressed above are those of the interviewee and do not necessarily reflect the views or official position of the FMA.
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