How I made a career breakthrough successfully by buying a new career - Part 1 - The Premise

Before I took this leap of faith to permanently leave investment management as a full-time career, I did spend a lot of time thinking about what to do outside of finance, weighing the pros and cons of a career pivot. It was daunting to pursue something I had no prior experience in so what I did first was to speak to countless people in different industries. I spoke to people who were in technology, sales, and hospitality. I targeted people who had made a career switch and those who made less money to find out what life was like when you earned less. What is life like without all the glamour and senior title next to my business card? How will others perceive me? Because now I have my wife and kids to support, I needed to map out a budget so that while I explore new ventures, I would also have enough for my family. It was a critical crossroad in life, but thankfully I had the luxury and time to do thorough research since I was still in a senior finance role. I modeled out multiple scenarios to budget how much I needed each year, especially if things went sour. My wife didn’t come from finance and told me it’s fine we don’t make as much money. I learned that those who appeared to have less “glamorous” jobs or titles and made less money were just as happy or happier than I was. At the end of this self-discovery, I realized that it all came down to mindset and lifestyle. It was my own mental state and expectations that I had to overcome.

We all have different paths to getting to a destination, and that path really matters because it determines if the foundation you lay is strong enough to withstand bumps along the way. Despite being laid off twice in the past, I strongly believed that I was better than a lot of people both financially and work ethic, so why can’t I do something while others can? A lot of people can't make their career pivot in life because of the doubts that set in each time they think of venturing into a new career or business path. We feel trapped because we are conditioned to think that our job description and resume define what we can do. Many tend to dim the ideas that light up in their minds because they are trained to expect a pay raise or a promotion if they put in the time. That’s the definition of corporate ladder. In finance, if you put in x number of years, you should make VP, Director, MD or Partner, etc. They fear that if they get off this ladder for something else, then they have to start from the bottom, or somebody would occupy their spot on the ladder.

I did a lot of soul searching before I pivoted my career into the idea of owning preschools. At first, I asked myself; how do I get into this space? If I didn't have a full-time finance job, what else could I do? What skills do I possess that will allow me to switch careers? What can I do that is more meaningful so I can give back to society and still be able to invest at the same time? Being in finance full-time wasn't really as fulfilling anymore because now I felt like there was something more meaningful out there than to always think about how to make money. Despite how passionate I am about investing, I wanted to make a real impact on society. But 2018 wasn't the same as when I was unemployed in 2009. This time I was approaching the peak of my career in a cushy and high paying job that many envied. It was comfortable. This time, I actually had a family and more obligations to fulfill. The opportunity cost was way higher because it wasn't all about me anymore. I had dependents that I needed to think about each time I made a financial decision. I needed health insurance for the family. If I leave this cushy job and high paying job, I may never be able to find one like this.

At the same time, I looked into the mirror and the person looking back at me told me I was not fulfilled waking up doing what I was about to do. This happened repeatedly. I felt empty. For the first time in my life, I was not inspired to wake up to go to work despite it being the most comfortable. Somehow these concerns turned into timely opportunities to open new doors.

Because of my little one, I looked at a lot of preschools in Singapore, thinking of a place I could possibly send my child to study and realized that I didn't like any of them. I just didn't believe in their philosophy. I knew my wife and I could do better with our knowledge and experience, so I thought of homeschooling. However, the more schools I visited, the more confident I was that I could run these schools better than whomever the owners were. What if I started a better preschool for my own child and impacted her classmates at the same time? It would also be a means for me to leverage my skills in finance. That’s killing multiple birds with one stone! And that’s the premise to moving into the early childhood industry in Singapore.