27 years old only has 70 million, the girl “awakened” planned to make money and now has 300 million, 2 savings books and a series of profitable stock codes

“I am 2 years old”8 age, have not loved anyone, do logictis, salary 15-25 million depending on the month. From the age of 27 and earlier, I also fell into the situation of doing as much as I can, very wasteful. So, in my hand, I only hold 70 million savings. But I think it’s not too late, I’m starting to balance between spending and investing more, so after 1 year, I have accumulated 300 million in savings. One of the things that made me realize that I need to accumulate, that is the goal of financial freedom.” This is the sharing from the girl Nguyen Ngoc (Nghe An) when she started to step into the investment goal to make money begets moneytowards financial freedom as soon as possible.

Ngoc used to be a student at Banking University, majoring in Import-Export. Initially starting with the profession, she thinks this is an industry with potential for growth. Following this profession for 6 years also makes Ngoc have a fairly stable salary, enough to swing her arms “over her forehead” to enjoy the single life. Recently, Ngoc realized why she only has a little savings, while her friends of the same age now have families, buy a house, buy a car, have money to save. Moreover, the Covid-19 pandemic has made her realize how important saving and investing is.

The lack of money makes our life lack of opportunities to move forward. Ngoc shared after she realized how important saving money is: “The fact that you have savings makes life a lot easier, I can actively prevent a lot of risks.” Let’s chat more with Nguyen Ngoc.

Can you share the process of how you started getting involved in investing? What is the first step you choose to take?

I realize my biggest problem when looking back at the money saved: uncontrolled spending is really worrying. When the Covid-19 epidemic lasted, work was stopped in the middle, my mother was sick, all of it was on my shoulders. The source of money is now running out and I start thinking about increasing my income, reducing my expenses, or somehow, making the remaining money generate money.

Strict in “Save first, spend later”.

The first is to reduce costs. I filter out all the expenses I’ve spent in recent years, keeping only the ones that are really necessary, leaving out all the unnecessary expenses, even the smallest ones. When I look back at all those expenses, I’m just startled. I started to apply the advice from minimalist lifestyle.

On the issue of increasing revenue. After minimizing expenses, I focused on increasing revenue. Income before the age of 27 mainly comes from monthly salary. But in the middle of 27 years old, I pursued a project on producing – exporting fruit trees, the same field I am doing, this is my second income, and also a chance for me to meet my current mentor. in. So far, I have also achieved some results and will continue to be steadfast on this path.

Does Ngoc have a specific plan for the investment?

I myself had no concept of investment until I met my current mentor who guided me in the financial field, taught me to focus on investing and knew how to control the cash flow in my pocket. What I am trying to improve during this time is to clearly divide and invest properly.

The capital I currently have is divided into 3 funds:

Fund 1: Emergency

It was Covid-19 that made me include this list in the annual mandatory fund. The emergency fund is set aside for the time when the most difficult cases are encountered, such as sickness, accident, unemployment, etc., which are basically unexpected risks that cannot be controlled as well as difficult to ask for help from others. With the current amount, I spend 20-30 million/year to put into the fund. Of course, this amount will increase every year depending on your income.

Fund 2: Life Fund

Also known as survival fund. This fund will include: Everything for eating, studying, improving yourself in life. I realize that self-development is extremely important, when young people are getting better and better, it will be easier to overwhelm seniors, so I have to try harder not to be eliminated. So this life fund item, the item for studying, is the one I spend the most.

Fund 3: Invest properly

I choose the ratio 40:60 for safe investment and venture capital. I’m the type of person who doesn’t like taking risks. Therefore, I was advised to divide the investment into 2 categories, do not put all eggs in 1 basket to avoid an unstable psychological situation and lose all.

For safe investment, I choose investment portfolio in insurance, fund and certificate of deposit. I spend 40% of my total monthly income, after deducting all expenses, to put in these items.

Choosing to invest in venture capital is when you express your opinion that you want to quickly achieve financial freedom. When I divided the remaining 60% of the money into this fund, I also spent a lot of time to learn, get more help from outside, I decided to choose securities. The phrase I hear the most is “if you want to go fast, you have to go slowly”. In the past 2 years, the stock market has made a profit of 20-30%/year. During the prolonged Covid-19 epidemic, it is a real money-making playground for newcomers, with just a little knowledge and a lot of luck, a profit of more than 30% is understandable.

With such investment portfolios, much of it is due to luck, the amount of capital I save now is about 300 million, 2 savings books of nearly 50 million, and I have a few stocks with high potential. average profit of 15-20%/year at this time.

So if the venture fund has a problem, you can lose everything or go into debt, in the worst case scenario, have you prepared anything?

When building this fund, I was almost warned that I can satisfy my desire to get rich quickly, but the possibility of losing everything is always a huge risk. I know this, because haste is the enemy of investing. But I take a risk, not a rush, and I have a plan if I get into debt.

First of all, if I owe a single source of debt, I will temporarily put aside the safe investment fund, put aside the investment categories for myself, just focus on repaying the debt and paying it off as quickly as possible. return to fund building as the original orientation, and adjust it properly.

But if I am in debt from many sources, I will focus on rotating the capital to pay it back, paying the debt at the places with the highest interest rate first, and concentrating the revenue sources to pay off the debt. When I have this orientation, I feel less pressure about failure, and more bold in my ventures.

It only took Ngoc about a year to rebuild her financial mindset, which can be seen very quickly. So do you regret not doing this sooner, maybe at this age, maybe Ngoc has already achieved her goal of financial freedom?

I know this, many people will say that they do not have the will to progress, or do not know how to take care of the future. But for me, it’s mostly a matter of grace. If there were no Covid-19 epidemic, if I couldn’t meet my current mentor, I would probably still live like the 27-year-old until something happened. I feel lucky and have no regrets, for me nothing is too late. The goal of financial freedom starts in my late 20s, and I believe I’ll reach it in my 30s, or 40s, or whatever, I’m happy with that. I always look to the future, not to regret because the past didn’t do it.

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