Dr Stephanie Wong Spotlight

Goodegg Investor Spotlight

We’re thrilled to welcome you to our series of Investor Spotlights and in honor of Women’s History Month this March, we’ll be starting with one of our investors who as a mother of two and successful business owner has been able to invest passively in syndications to further her goal of living a life by design and building generational wealth for her family.  Read on to learn more about Stephanie!  

Tell us a little about yourself and your family – where you’re based, what you do for work, how old your kids are (if applicable), what you like to do for fun, and anything else you’d like to share.

 

I’m an Asian American, Licensed Clinical Psychologist and Founder and Host of the Color of Success Podcast, which seeks to destigmatize mental health among the Asian, Asian American/Canadian, and ethnic minority communities. My family and I are based in the California Bay Area. My hobbies are singing karaoke, watching K-dramas, reading, and traveling (prior to the pandemic, internationally).  Of course, BTS, the most famous band on the planet, is my other love and I consume a lot of content and spend some “change” on collectibles. 

What does it mean to you to live a meaningful and intentional life by design?

 

It means living consistently with my values of leading a healthy, happy and prosperous life, and helping my family do so as well. I work towards having a balance between work, time spent with my family, and leisure. Living an intentional life design means getting to a place where we can pay off our mortgage and live comfortably in this very expensive area.  I want to give our children the tools to be self-sufficient women prior to and during romantic partnerships. We therefore, prioritize the notion of generational wealth so they have a safety net. I also want my parents to live comfortably, watching their grandchildren thrive.   

 


How did you discover passive investing through real estate syndications?

I’ve been investing with you here at Goodegg for the past few years, originally learning about your company through the Asian Hustle Network, a group on social media. I then took the free classes you offer to learn more about the benefits, risks, and process of investing. Through the Investing for Good book and other educational resources offered, the benefits, risks, and process of Real Estate Syndication was laid out in very understandable terms.

 

How has passive investing changed your life and your family’s future? 

It has diversified our portfolios, and given us an alternative to the stock market, cryptocurrency, and low-interest rate savings accounts. I’m proud that we have invested and it is nice to see monthly/quarterly returns. I acquired new financial and investment knowledge that I can apply to any investment that is consistent with my risk-taking level of comfort.

What advice do you have for others who want to follow in your footsteps and create their own life by design?

Identify your values and take steps to live consistently with them.  Health–mental and physical are of utmost importance to me, in addition to enjoying life, despite difficult times.  The most meaningful aspect of life is family and loved ones, creating memories with them.  To me, there is no such thing as balance because you have to compromise some things over others, identifying priorities at-the-moment and for the future.  I like the quote by  Matthew McConaughey, “Ask yourself if you want to before you do.” A lot of us, and I’m guilty of this at times, do things because we compare ourselves to others, but the nature of creating a life by design is you get to choose where you focus your attention and energy based on things you care about.

When you look down the road into the future, what does your life look like 5, 10, or 20 years from now, and what part will your real estate investments have played in that?

No matter how many years have passed, I hope to see me and my family living healthy, happy, safe and thriving lives!  My ultimate goal and dream is to retire by 40. Technically, I could do that if I didn’t live in the Bay Area, but this is my home and I’m not planning on leaving. The immediate goals are to significantly pay down our mortgage and help our children have choices in their education and career. I plan to invest in more deals as hold periods end and we can then use the returns for the next deals.

If you could share anything with those who are just starting this journey, what would it be?

I’m a strong supporter of women educating themselves about finances and not being afraid to be “bread-winners.”  Education starts with identifying trusted sources of content and doing business with those trusted sources. Reputation built on actual evidence means a lot to me in terms of credibility.  Also, finding people and companies that care about family and helping others and have values that are consistent with my own.   

Feel free to share anything else that hasn’t been covered here.

Mental health and building relationships are so important. I’ll also plug our podcast, Color of Success.  We have great guests, such as actors, comedians, authors, psychologists (one that Janae and I mutually know as well), singers/rappers, entrepreneurs, etc. and we cover topics such as intersectionality of identity, Needle Phobia, media representation, relationships, coping with Substance Use Disorders, coping with barriers to living a life by your own design. These guests have demonstrated tremendous strength and are paragons of thriving in the face of adversity.  We hope to help as many people as possible by sharing these stories.

Follow us for more resources and keep up with show updates: Website colorofsuccesspodcast.com (all show links and social media)

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