Case sharing:
Life is interesting. Manage your expectations. Always expect the unexpected. Be it good or bad. Expect the worst, hope for the best. So that you will not get disappointed. I have been a very positive chap since young. I came from a very poor family and never knew what wealth was. Father was a taxi driver and he gambled most of his time. Parents divorced at the age of 16. Study was a mess and got involved in secret triads as a teenager. Until I met my Secondary school sec 3 form teacher who maybe saw the bright of me.
Insisted I become the class monitor. From there, I then knew what leadership was and what it could lead me to. Charisma and wit, that will bring me very far. Graduated with a computer science degree at state's top university. Was appointed a business development director in a national media company by 26.
Read Robert Kiyosaki's in a day at the age of 28. Felt financially enlightened and started checking out on investing in properties. At the age of 33, I owned 2 freehold properties worth S$2.5m. It was easy money. I got greedy and arrogant. I was at the top of the world. And what do people say about easy money: Easy come, Easy go. I had $500k cash, 2 condominiums worth $2.5m, $300k in provident funds, $400k in insurance and $300k worth of watches from Lange to AP to IWC to GP to Ball to Rolex but it was never enough. Insatiable appetite for wealth if I must admit. Greed took over at age 35 wanting 1M cold hard cash (so that i can semi retire by 40) despite the fact that I already have almost 4m assets. My gearing was low at 1.5m loans vs 4m assets. But my greed obscured me from seeing all these.
My downfall came at 35 years old when I was brought to a casino ship for the first time. Won $6k with $2k capital over baccarat games. And I was like OMG! 6k in 3 hours a day??? 15 days a month meaning up to $100k! And i have another 15 days for leisure. So what if I lose a few days, still can average at 50k!? Fell in love instantly with the easy winning. Mind you, at 35, I was earning 18k a month as a regional sales manager with the top social media company then. And working from home. I had all the time in world and I was hitting target month on month for 2 years.
Within a year of visiting the evil ship, I lost 200k, felt terrible and stopped. Joined a global media company as a senior sales director and worked damn hard to recover my lose. Within 3 months, I nailed a 1M deal and commission was 75k usd! Knew I am halfway back and surprisingly things got worst...
The local casino opened and I was tempted to go. Hesitated a few times and decided to go during office lunch time in my BMW 5 series and told myself not to be greedy like last time. Won 500 to 2k for a month and first month I won 75k!!! Almost bought a Mercedes SLK worth 75k as a second car. In the end, I told myself to buy a condominium property instead. This was the most rational decision while greed was unfolding me all over again. People laughed at me for buying the condo at 1700 psf. No one laughing now. But property market is in a slump currently. So I don't have the last laugh as I thought I would. By the 2nd month at the casino, due to luck at the right time, I won 100k in 3 days with a capital of 2k! Greed finally unfolded me. I lost 200k at cruise and now I am back at 550k just so I thought. Hell broke lose at the 3rd month onwards where I lost 100k+ a month. Continuously for 6 months, I lost 1M cash. 500k cash and 500k overdraft from banks. And i owed $50k to loan shark at 3% a day. Do your math and you will know how scary it is as I was owing them for 3 months. I was down to zero cash by then as well. Imagine you had mid six digits in your state bank 6 months ago and now it's showing almost zero. I was 37 then... I got into depression and it was my wife and family that raised me out of negativity. Suicide thought was frequent and I stare into walls for hours for weeks. Went to a gambling help group and realised that I am not alone. One chap at 40 lost 2 bungalows worth 6m. Six times more than me at 3 years age difference. He shared humbly that now he drives a truck and prays to God every moment his time permits. I saw some light then and awaken that I must bring myself up again. Only I myself can do it, no one else can.
Now I only pray that life will turn better. At 42 now, I live humbly. I took 5 years to pay back 500k that I owed the banks with 100k interest. Along the way, certain trials will follow me through but now I have God watching my back as long as I do good. I am on a constant watch to make sure greed doesn't visit me because I know I can't go through one more of this ordeal again. If not for me, but for my family. I pray the moment I wake up to ask for God to help me get through the day. And thank Him before I sleep that I can have a restful sleep.
Life is much simpler now. Cut down on alcohol and just focus on work. Trials are everywhere but I fight back better now. For the one I love, I wanna work hard and buy the next condominium. Saving as hard as I can and yet maintain our lifestyle (not easy but ever trying and not giving up easily). Pray for me just as I will pray for you if you are going through the same trials I have had. Amen.
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