In a thriving local economy, a young professional reflects on a family tradition of prudent investments in gold and real estate, highlighting the power of strategic financial planning for future generations.
After graduating with a degree, I set my sights on landing a job with two promising companies: one based in Taiwan and the other in Japan. With limited practical experience, I was thrilled to receive production manager offers from both companies. The opportunity came with a supportive work environment and a salary that outpaced my fellow graduates, setting the stage for future financial growth.
With my first salary, I chose to invest in my family’s time-honored practice of buying gold. My mother managed the finances, using my earnings to purchase small amounts of gold each month—ranging from a few taels to a fraction of a tael (1 tael = 37.5 grams or 1.2 ounces) based on our budget.
As savings grew, my mother seized the opportunity to buy a 300-square-meter plot of land on the outskirts of Ho Chi Minh City for just a few million dong (around US$384.62 at the time). She promised that this property would pave the way for my future when I eventually marry. Today, that land’s value has skyrocketed into the billions of dong, showcasing the immense potential of long-term investments.
My parents often remind me of the saying, “Many a little makes a mickle,” reflecting their risk-averse nature. Over the years, they consistently turned to gold as a secure investment. Their approach was simple yet effective: while land appreciates, gold’s rarity makes it a stable asset.
They adeptly navigated the real estate market, selling gold to buy homes and land when prices were favorable, and then converting those properties back into gold when the market suited them. Now, as gold prices soar, our family is well-positioned to reap the benefits of those decades of dedication. The freedom to sell gold when needed affords us options, whether it’s acquiring a new home, purchasing a vehicle, or traveling.
In contrast to my family’s investment approach, a friend—earning a similar salary—spends freely on indulgences like alcohol and karaoke. This friend continues to live at home, while I find myself on the brink of early retirement, thanks to our family’s strategic decisions.
The success seen in my family’s investment strategy echoes broader consumer trends in the retail sector. As more individuals lean towards conservative investments like gold and real estate, the potential for economic shifts builds. This growing inclination towards thoughtful financial planning not only benefits individuals but could lead to enhanced stability in the retail landscape, influencing how brands expand and connect with consumers.
The opinions expressed are based on personal experiences and do not necessarily reflect the views of VnExpress.
