Our childhood experiences profoundly shape how we approach money. Whether openly discussed or shrouded in silence, the lessons, or lack thereof, can define financial confidence well into adulthood according to Tatler Asia.
For Sharon Sim, money was a double-edged sword. Growing up in Singapore during the 1970s and 1980s, her mother’s career as a stockbroker brought frequent dinner-table conversations about finance. Yet, the highs and lows of market volatility left an indelible mark. “You can make money in the good times, but lose it all in a day,” she recalls.
These memories motivated Sim to take control of her finances, despite the pain they caused.
Sim’s journey into finance began with a career at Goldman Sachs, where she worked to unravel the psychology of money. “You treat money as your friend,” she explains. “You invest time and effort to check in and build a relationship with it.” By 24, Sim purchased her first property, a daunting move, but one grounded in a clear understanding of her risk tolerance and desire for security.
For Serena Wong, the financial narrative unfolded differently. Money wasn’t a topic of family discussions; education was seen as the primary pathway to success. A gifted student who excelled in psychology and later joined Singapore’s GIC, Wong didn’t delve into personal investments until her 40s.
“I didn’t have that awakening as early [as Sim],” Wong shares. However, she emphasizes that starting later isn’t a disadvantage. Her structured investment journey began when she understood her own needs and risk appetite better. At 47, she purchased her first home, proving that it’s never too late to build financial security.
The reluctance many women feel toward discussing money with financial professionals often stems from early experiences. Whether it’s fear of risk, societal norms, or a lack of early exposure, these barriers can delay financial empowerment.
Both Sim and Wong highlight that building a healthy relationship with money starts with honesty; about risks, rewards, and personal goals. While starting early offers advantages, Wong’s story reminds us that the journey is just as meaningful, no matter when it begins.
Photo: akophotography
