Tim Ng

speaker

20 appearances 1 recordings 1 series first heard Aug 2021 last heard Aug 2021

Tim Ng’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Millennials Enter High-Earning Years But Don't Feel Financially Secure · 13 Aug 2021 podcast

Thanks for having me, JR.

I think it's going pretty well overall.

I'm trending towards where my goals are.

And I think I'm getting to the point where it's not so much the money as it is the quality of life, the work-life balance, as well as the benefits and other perks that come along with the jobs.

I think right now it is challenging because I think I'm at the point now where in order to go up in salary, I would have to take on more responsibility, either by increasing to like a right now I'm a product manager.

The next step up is a senior product manager, director of product management or VP of product.

And all of those encompass additional, many more significant responsibility increases and also require additional time being required.

I would say that the bar that I set for myself back then, as I'm reaching those or exceeding those goals of where I was at,

are continuing to increase.

And it's not because of not only a desire to grow for myself, but also the realization of the cost of living increases as I grow a family, as well as the increased expenses from both inflation and even general lifestyle creep.

I'm a unique case, primarily because I've actually suffered the loss of a few family members, both my mom and dad.

So I think the main goal is for me to try to focus more on the quality of life, realizing that that life is on the shorter side.

But at the same time, ensuring that I'm being more proactive with my savings, being able to

invest more to make sure that for both my wife and my daughter, who's 16 months, to be able to have a comfortable life in the event that something were to happen.

I definitely agree that it is extremely difficult.

I think where I would have gone differently is I would have taken advantage of long-term growth and compounding interest and investing heavier in stocks.

Even factoring in the recession back in 2009, I think the trajectory of the market continued to have an upward trend.

So I think if I were more aggressive in some of my stock investments and heavily weighted it towards that versus the lower interest savings accounts, I think that would have been a bigger benefit and where I would have taken advantage of.

Thanks for having me, JR.

I really appreciate it.

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