Yes, I’ve been a highly successful entrepreneur, and yes, I’ve learned how to build on that success. But that hasn’t always been the case.
Although I was born into a nice, middle-class family, a series of devastating events threw everything into disarray. I found myself in a deep hole, desperate to climb back out and simply survive.
Here’s how it all unfolded…
Growing up in modest circumstances.
My dad was an independent renovation contractor, while my mom stayed at home to take care of my two brothers and myself.
Doing what he did, Dad drove around in a big car, yet we lived in an average house handed down by Granddad. So most of my friends just assumed I was a rich kid. I wasn’t.
Dad’s business had the usual ups and downs. During the ‘up’ times, people from the outside looking in assumed we were better off than we really were. What they could not see, though, was the best financial asset Dad could possibly give me: financial savvy.
Learning the ropes very early on.
I was only eight when Dad recruited me to sort out his company’s bills, statements, receipts, invoices and all manner of other accounting documents. It was a simple matter of separating the pile of documents into their respective categories.
Over time, this mundane exercise led me to understand how the world of finances works: how much things cost, how prices fluctuate from one month to another, what happens when payments are delayed, different types of fees for goods and services, etc.
As a result, I developed a keen sense of how all of that had an impact on our family’s financial position.
Thinking about a career path.
When I was just 15 years old and while my peers were caught up in their social lives, I was actively exploring career options. Naturally, I asked my dad for pointers.
Again, I was treated like an adult as he introduced me to his friends and business associates: bankers, accountants, business owners, and various other professionals. I got to interview them and ask about what each did for a living.
The 1997 Asian Financial Crisis changed everything.
When business was good, Dad bought heavily in the share market and off-plan properties. Unfortunately, he did not have any mentors advising him on how to invest in stocks, nor did he understand how to buy investment real estate.
So when money left Asia in 1997, the local share market tanked. The bottom line: his business dried up and Dad was forced to retire. The family went bankrupt overnight with millions in debt. No income, just expenses.
Investing in me despite everything.
Fortunately, Mom had set aside some money for such emergencies, and we lived on these savings for several years.
Although my parents could ill afford it, they still gave me money for my tertiary education. This came with one condition: I had to see my younger brothers through their own tertiary education to graduation.
At the University, I held two jobs and worked over the summer holidays to supplement the funds from my family.
Exploring the world for opportunities.
By 2000 I had already graduated and earned my degree in Accounting and Finance. Now I had to figure out how to finance my brothers through college.
My first job paid $1,600 a month, which was barely enough for the family’s expenses let alone seeing both siblings through college.
I realized very quickly that if I did what everyone else in this company did, I would have the same result they had. And that was nowhere near enough.
So I decided to change the rules of this game. Immediately, I began to spot opportunities everywhere–including those outside the country that had not even crossed my mind before.
It worked out beautifully and things changed again!
My income went from $19,200 a year to $288,000 in a very short time. So by the time I returned to Malaysia at age 30, both my brothers had finally graduated.
At the time this article is being published, my dad is in the hospital fighting yet another battle. If you’re reading this, I humbly request that you help me pray for his healing and for his condition to stabilise. This is also a tribute to my dad. If you wish, please share to let the world know what a great dad was. “Dad, wake up soon-let’s celebrate our successes”
Hi penny.
Pray for your dad to be up and well again soon. *hugs*
Oh Penny what an amazing story. I think your parents did an amazing job raising you and your brothers… I will orY for your father as well as you and the rest of your family…. Thanks for sharing
Dear Penny,
I am touched my your story. Your resilience, adaptability, creativity and resolute to overcome the challenges is inspiring.
I’ll keep your dad in my prayers, that he’ll be well again.
Take care of yourself too.
Regards,
Lynn Choo
A touching story and feel proud to ur parents ….will pray for ur father soon recovery…and you also have to take care urself….
Dear penny thank you for sharing. I pray that your dad’s condition will improve and wish I could be financial savvy and pass the knowledge to my kids
Hi Penny
I have gone through similar circumstances and I understand it all. May GOD bless you and your family. Will pray for your father’s recovery
Hi Penny,
Such a great heartwarming story.Thank you for sharing and inspire many. I pray for your family. God bless always.
Well said Penny dear. Very inspiring and you are a good daughter n may God bless you. Speedy recovery for your beloved father. Be strong!
I am touched by your story. I pray first your father. Hope he will recover soon.
Thanks for sharing 🙂 wish your dad recover soon .
Pray that your dad will recover soon and may his health continue to improve day by day. God bless. you and your family.
I share almost the similar experiences with you too, Penny!
My dad used to be an independent contractor as well and my mom stayed at home to take care of my younger brother and myself. My dad used to ask me to file his receipts as well but never really teach me accounting sort of things. I did ask why I need to do this job. He just says that it is for his accountant to prepare the tax income document. When his business grow, I stop doing this sort of works but he asks me to be the secretary or personal assistance within our family. I did our family trip survey and reservation, birthday celebration organizing and etc. Thus, I am good with organizing, filing and make things goes as planned. My role as librarian back in school helped me also. My dad hit business crisis before the 1997 Asian Financial Crisis due to his trust into people. Our family went bankrupt in months and my dad have to hide from the debtors. Finally, things get more worst and he had no choice but to go out of country to avoid being sued bankruptcy. He knows that if he was sued for bankruptcy, we have to suffer with him. So, he rather takes his chances oversea. Although my mum have emergency money but dad took it with him for his ‘oversea chances’. He sent in money every month for my college and house expenses. I did not find a job even I wanted to and I am not sure where to start. My dad forbidden me to do so as well. Guess I just being spoiled when my dad business grow. My dad insists my mum and brother go to oversea with him when I graduated. He also mentioned that if I could not find a job within a certain time of period, I need to go as well. But I am too reluctant as I had my boyfriend (afterward husband) here. So, I accept whatever job that want me to start immediately and I landed being a call center operator even my education qualification is over qualify for the job. Unfortunately, my dad passed away oversea when it is close to my wedding day. I have not seen him in years and no close relative is with him when he dies in a car accident! I blame myself for it.
Thus, I sincerely hope for your dad to recover so that you and your dad can be together to spend some quality time.
Thank you everyone for your well wishes and prayers. There was indeed some slight improvements yesterday and I’m sure all your positivity and encouragement helped.
He is however not doing so good today. If you can, please continue to keep him in your prayers. I’m reading each and everyone of your messages and although I can’t reply at the moment, I will reply to each one of you personally when he’s finally better.
The Lord will be by your Dad’s side because you’re such a filial daughter, Penny.
Your persistence, determination and diligence are qualities that will see you through tough times!
Hope your Dad recover soon.
Good men are needed in this world.
God bless.
Such an amazing and touch real story!
Hope your dad recover fast so he will have a great time with you all
God bless
Salute to your Dad, the Mentor and Warrior. May the Strength be with him. God blessed.
hi Penny
Reading your article brings back memories of my dad. I lost him some 40 Years ago when I was only 15.
I pray that your dad will recover soon.
Please know that you are not alone.
Take care
Dear Penny,
Thank you for sharing your journey in life.
May your dad be completely healed & celebrate the successes together.
Continue to be strong & positive.
Blessed be ^_^
Thank you for sharing your life journey. It was brave of you to embrace the adversity, challenge it, turn it around and make it work for you. I admire your attitude of not giving in. Pray your dad will get well soon.
God bless you.
Jenna
saw this come up randomly on my facebook feed and I hope your dad gets better. at least you had a great dad. which is better than mine.
Thank you Heavenly Daddy for your unfailing love for each & everyone of us.
Praying for mercy & full healing power upon Penny’s dad.
May this family be blessed with good news & receive a wonderful Christmas gift of hope, joy, love & peace from You.
Amen!
Penny, I pray that your dad have a long and stable life. May all obstacles be pacified and favorable conditions abound for your dad to be awaken and join you for many more meaningful years!
Hi Penny,
I will pray for your dad.
Am glad you understood how hard life can be especially for your dad to have been from a successful businessman to bankrupcy. Reading your post, I really understand it as I am going through the same phase. Suicidal thoughts are running thru my mind not only on a daily basis, but on an hourly constant basis. It would only be a matter of time. Your dad is fortunate that there are family members to support him going thru it. He is strong and he will be fine. I will pray for you and your family. Meanwhile, have hope, be strong and be there for your family. Family is everything. Merry Christmas and have a happy New yr. JT
Penny,
I will pray hard for your dad’s fast recovery.
God bless all the members in the family.
Best wishes,
Nick Chong
Hi Penny,
Thanks for inspiring sharing.
Pray for your father’s recovery and God be with him.
Take care and be strong.
Best wishes,
Julia.
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Thanks Patriciaka, looking forward to see you here more often too.