Ex-SIA Stewardess Lost $12k Savings To Investment Scam
No one is safe from scams. Watch how this ex SIA stewardess lost $12K of her savings to an investment scam
As a young Singapore Airlines stewardess, Germaine Chow scrimped and saved by eating cup noodles and biscuits.
But all it took was one bad investment decision to wipe out $12,000 of her precious savings.
That was some 10 years ago, and the 32-year-old considers it one of the more "painful" lessons she's had to learn.
Now an entrepreneur who helms multiple businesses with her husband, Germaine says that the experience cemented her "fail-forward" philosophy in life, and her penchant for hard assets — property, Bearbricks and Rolex watches, to name a few.
As a result of the experience, Germaine is now a lot more cautious with her money.
"I really don't trust a lot of people and don't trust investing into digital stuff," she explains. "I get very, very wary."
And while many are diving headfirst into the metaverse and non-fungible tokens, Germaine prefers to spend her money on more tangible things.
"I enjoy the hard assets because I get to enjoy them and wear them and see them and use them. It gives me a lot of security."
Some of her favourite investments are her Bearbricks, which also double as home decor.
The collectable toys produced by Japanese company MediCom are known to appreciate in value, with some models such as the Coco Chanel one going for an average of US$19,035 (S$25,607) on StockX.
"Sometimes it isn't an instant hit where [the price] just goes up like that, but if you wait another two or three years, chances are it would go up."
Another of her newer obsessions is Rolex watches. While $21,500 might seem like a steep price for a timepiece, Germaine shares that her Rolex Cosmograph Daytona has appreciated since she bought it a year ago, and is worth upwards of $30,000 today.
But the investment that has brought the most satisfaction would likely have to be the landed home she purchased last year. It's worth over $5 million in the market today, she says.
The family home houses Germaine, her husband, their two kids, and their parents, and is a "dream come true".
Able to support her family - and then some - things are "pretty awesome" for her now, she tells us.
Looking back at the past, she says she's glad it happened when it did.
"I think it's great that we make such mistakes at a young age - you don't have so much to lose yet.
"If my story does help one person, then I think it's enough. Because we just need to focus on the good, and it will come back to you tenfold."
Text: Kimberly Lim/AsiaOne