This interview was originally conducted by Natasha Jung and has been condensed and edited for clarity.
Being entrepreneurs and new parents are two full-time roles that Phil Wang, co-founder of Wong Fu Productions and Bopomofo Cafe and Helen Wu, co-creator and co-host of Asian Boss Girl, are navigating together. It’s a delicate balance for the couple and redefines what wealth means to them.
Generational wealth
Growing up, neither Wang nor Wu received allowances. Instead, their parents provided them access to spending money, a giving mentality that impacted their attitudes towards money. “I could see how hard they worked for their money,” Wu recalls, “and I didn’t want to take that away from them to go spend it on something that’s just for fun.”
Similarly, Wang’s parents also provided everything for his family. It’s where he picked up his “sensibilities towards finances” by watching his parents and how they spent their money. Knowing that their family supported them financially and unconditionally is an integral value they want to instill in their son.
This added role of parenthood also pushes them to reflect on their personal wealth. Specifically their perspectives toward money and how they want to raise their son.
“Having a wealthy life… would be having a lot of time with family while also doing something that I love and am passionate about,” says the Asian Boss Girl.
Passing down traditions and good money habits
It’s a sentiment that Wang also shares. Being a new father has changed his perspective on how much time he wants to spend building his career, but not at the expense of his family. “I just want to spend more time with my son and literally not miss any moments or milestones,” Wang shares endearingly.
See also: Asian millennial dads on becoming fathers
Being family-oriented is an important value for the couple. Now, more than ever, spending time with each other’s families has never been more special for the Asian American power couple. When their son was born, their mothers didn’t hesitate to provide hands-on support. “I’ve spent more time with my mom… these past eleven months than I have spent with her over the past eleven years,” Wang reflects.
It’s a pivotal time for the pair — one that they truly value and appreciate. Especially their parents’ role in modelling cultural values and traditions in them.
And celebrating the Lunar New Year is one of them.
Although the couple experienced different Lunar New Year traditions growing up, one thing remains the same. They both want to be intentional in passing down traditions and cultural values to their son. “It’s important to me that we do carry on these traditions,” Wu says, “especially as we are becoming the next generation in America.”
Partnered with U.S. Bank, Paths to Prosperity is a campaign that celebrates Lunar New Year, prosperity, and wealth. “Every generation deserves an opportunity to achieve their dreams.” U.S. Bank was named Fortune’s most admired super regional bank and one of the 2022 World’s Most Ethical Companies.
