In fact, growing up Pauline came from a family that believe that as long as you can study hard and work in a government organisation, you will have a guaranteed Iron Rice bowl. And so, through hard work and sweat, Pauline graduated as a degree holder and started working in public service.
However, after a few years, that department was privatized and unfortunately for Pauline, she was retrenched. From the compensation of the retrenchment package Pauline was advised to put it into a unit trust that will reward her 5 – 9 % per year.
Believing that, since so many have bought the same investment, the Unit Trust must be the Iron Rice Bowl in the investment world. And so for a good 7 years, she had been religiously pumping in money into her unit trust. Till the subprime crisis came.
In less than a month, Pauline saw more than 50% of her net worth, earned through blood and sweat, wiped out before her eyes.
And that was when she realized that the only thing that is certain is uncertainty. That was when she made a decision to take responsibility of her money and understand the game.