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Me & My Money Series (Sunday Times)
Wow, very rich girl! Stays in a landed property in Bukit Timah haha.
Jokes aside, what surprised me, though, was that she does NOT have a retirement plan (and she is already 28), and that most of her cash is in the bank (she only mentions bonds a few shares). Not very sure what value you can get from this interview.
The Straits Times
Aug 21, 2011
Marrying work and passions
Ex-lawyer has invested her energy and funds into bridal and fashion boutique
By Magdalen Ng
Almost five years into her job as a legal eagle, Ms Evangeline Lee decided to pursue her passion for fashion and entrepreneurship.
Since the start of the year, the 28-year-old has been a shareholder in high-end bridal boutique and fashion house Irene's Creation, which is located at Raffles Hotel Arcade.
She felt that she needed to seize the opportunity to do what she loves while she is still young, after a chance meeting with the founder of the business, Ms Irene Teo.
A former senior associate at Wong Partnership, Ms Lee said that despite the pay cut, she wanted to do something she was passionate about.
She said: 'I would like to bring into this business a holistic vision that extends beyond just marketing a fashion product to helping to promote the institution of marriage...
'It gives me great satisfaction, dressing a bride and groom for one of life's pinnacle moments.'
Q: Are you a spender or saver?
I try to strike a balance between my expenditure and my savings. I usually save more than half of my monthly income, and spend mainly on food and shopping.
I have a weakness for bags, shoes and clothes, like many other girls, but I do try not to spend too much.
Q: How much do you charge to your credit cards every month?
There is no regular amount that I spend.
I have two to three credit cards which I charge to, and I pay off my bills every month.
I draw from the ATM when my cash runs low, but I tend to charge more of my spending to my cards rather than use cash to pay.
Q: What financial planning have you done for yourself?
I started working only a few years ago and I am not married, so my personal financial planning is still relatively simple.
I have taken up medical and life insurance plans and placed the rest of my savings in the bank.
I also own some bonds and a few stocks.
Q: Moneywise, what were your growing-up years like?
I grew up in a financially comfortable environment. My dad is involved in the investment industry. My mum was formerly a banker and is now in the real estate industry. I have a younger brother. He is still in university.
My parents come from humble backgrounds, and have instilled in me the value of being a good steward of your money.
When I was younger, my dad went through a severe financial crisis during the 1986 recession. But I always remember him telling me that it is important to be a blessing to others, particularly those in need, and never to take our finances for granted.
It is also important to be thankful for whatever you have and to live within one's means.
Q: How did you get interested in investing?
When my brother and I were teenagers, my father would sit us down and talk to us about how to invest, so we were always exposed to the idea.
He impressed on me the need to make investments and financial decisions based on sound information and fundamentals, and good advice.
It was a natural progression for me to develop an interest in investments. I started with a few stocks and bonds and, now that I have become involved in Irene's Creation, I have invested my money in this business.
I don't really do day trading because I don't have the time to monitor the markets closely. I do try to read up whenever I can.
Q: What property do you own?
I do not own any at the moment. I hope to buy one in the future, but now, I have just invested in the business; I don't want to spread my finances too thinly.
Q: What's the most extravagant thing you have bought?
It was a branded bag that burned a four-figure hole in my pocket.
Q: What's your retirement plan?
I have not made specific plans but intend to do some financial planning soon.
Q: Home is now....
I live with my parents and brother in a landed property in Bukit Timah.
Q: I drive....
A BMW 5 series. I don't own it; it's a family car.
songyuan@sph.com.sg
--------------------------------------------
Worst and best bets
Q: My worst investment to date...
My personal investment history is only very recent, and the amount invested to date is not significant. I generally take a longer-term perspective on whatever I invest in, so I have not experienced any significant losses on my investment.
But there are a few equities I own that have gone under. There's nothing really much I can do about it other than hold on and see what happens.
Q: My best investment to date...
Aside from a couple of securities which have provided relatively good yields, I believe that the business I am in now will turn out to be one of my best investments.
A good investment must be measured in terms of not just financial returns but also intangible factors such as social impact and satisfaction.
Jokes aside, what surprised me, though, was that she does NOT have a retirement plan (and she is already 28), and that most of her cash is in the bank (she only mentions bonds a few shares). Not very sure what value you can get from this interview.
The Straits Times
Aug 21, 2011
Marrying work and passions
Ex-lawyer has invested her energy and funds into bridal and fashion boutique
By Magdalen Ng
Almost five years into her job as a legal eagle, Ms Evangeline Lee decided to pursue her passion for fashion and entrepreneurship.
Since the start of the year, the 28-year-old has been a shareholder in high-end bridal boutique and fashion house Irene's Creation, which is located at Raffles Hotel Arcade.
She felt that she needed to seize the opportunity to do what she loves while she is still young, after a chance meeting with the founder of the business, Ms Irene Teo.
A former senior associate at Wong Partnership, Ms Lee said that despite the pay cut, she wanted to do something she was passionate about.
She said: 'I would like to bring into this business a holistic vision that extends beyond just marketing a fashion product to helping to promote the institution of marriage...
'It gives me great satisfaction, dressing a bride and groom for one of life's pinnacle moments.'
Q: Are you a spender or saver?
I try to strike a balance between my expenditure and my savings. I usually save more than half of my monthly income, and spend mainly on food and shopping.
I have a weakness for bags, shoes and clothes, like many other girls, but I do try not to spend too much.
Q: How much do you charge to your credit cards every month?
There is no regular amount that I spend.
I have two to three credit cards which I charge to, and I pay off my bills every month.
I draw from the ATM when my cash runs low, but I tend to charge more of my spending to my cards rather than use cash to pay.
Q: What financial planning have you done for yourself?
I started working only a few years ago and I am not married, so my personal financial planning is still relatively simple.
I have taken up medical and life insurance plans and placed the rest of my savings in the bank.
I also own some bonds and a few stocks.
Q: Moneywise, what were your growing-up years like?
I grew up in a financially comfortable environment. My dad is involved in the investment industry. My mum was formerly a banker and is now in the real estate industry. I have a younger brother. He is still in university.
My parents come from humble backgrounds, and have instilled in me the value of being a good steward of your money.
When I was younger, my dad went through a severe financial crisis during the 1986 recession. But I always remember him telling me that it is important to be a blessing to others, particularly those in need, and never to take our finances for granted.
It is also important to be thankful for whatever you have and to live within one's means.
Q: How did you get interested in investing?
When my brother and I were teenagers, my father would sit us down and talk to us about how to invest, so we were always exposed to the idea.
He impressed on me the need to make investments and financial decisions based on sound information and fundamentals, and good advice.
It was a natural progression for me to develop an interest in investments. I started with a few stocks and bonds and, now that I have become involved in Irene's Creation, I have invested my money in this business.
I don't really do day trading because I don't have the time to monitor the markets closely. I do try to read up whenever I can.
Q: What property do you own?
I do not own any at the moment. I hope to buy one in the future, but now, I have just invested in the business; I don't want to spread my finances too thinly.
Q: What's the most extravagant thing you have bought?
It was a branded bag that burned a four-figure hole in my pocket.
Q: What's your retirement plan?
I have not made specific plans but intend to do some financial planning soon.
Q: Home is now....
I live with my parents and brother in a landed property in Bukit Timah.
Q: I drive....
A BMW 5 series. I don't own it; it's a family car.
songyuan@sph.com.sg
--------------------------------------------
Worst and best bets
Q: My worst investment to date...
My personal investment history is only very recent, and the amount invested to date is not significant. I generally take a longer-term perspective on whatever I invest in, so I have not experienced any significant losses on my investment.
But there are a few equities I own that have gone under. There's nothing really much I can do about it other than hold on and see what happens.
Q: My best investment to date...
Aside from a couple of securities which have provided relatively good yields, I believe that the business I am in now will turn out to be one of my best investments.
A good investment must be measured in terms of not just financial returns but also intangible factors such as social impact and satisfaction.
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