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Buying a house is becoming a burden, don’t put it on yourself!

Sophie is a female YouTuber / TikToker who owns a Clever Girls channel, which is quite popular in the financial investment community recently. Her videos all share investment knowledge as well as useful advice for young people on the path of financial investment. Sophie is currently working at a foreign Fintech company in Vietnam.

Just earlier this year, Sophie summarized the results of her investment process over the course of a year and surprised her followers with dreamlike portfolioin which her stock portfolio also reached more than 136%, some stocks even doubled.

YouTuber with a dream portfolio: Buying a home is becoming a burden, don't put it on yourself!  - Photo 1.

Contact Sophie to learn about her reasons for getting into financial investing and her views on investing, buying or renting a home, and some investment advice. Please!

    It is known that Sophie is both a YouTuber on financial investment and an investor, so what forms have you invested in now? In your opinion, what are the advantages and disadvantages of each form of investment?

In fact, the YouTube channel from the very beginning came from the simple purpose of sharing my personal financial journey. I hope people approach the channel with the mindset of building and managing personal finances more than investing, because investing is only a small part of the process of personal finance management.

I have been participating and learning quite a few investment channels, in order to tell all the channels and the advantages and disadvantages of each, I am afraid that within the limit of an interview like this, I will not be able to tell the full idea. But to answer briefly, I currently participate in some popular investment channels such as Fund Certificates, Securities and Crypto.

New investors often have a fear of losing money? What about you?

Investing is part of building personal finance, it’s the process of figuring out how to build a money system that automatically works for you.

I have never looked at investing as a gamble, or a game to fear losing money. When I put money anywhere, I always try to find ways to understand what this channel is, how it works, its mechanism, how it is, how can I earn money? Words from there? Once I have a clear picture in my head, I will have plans including a capital plan (how to allocate, how much to invest), a risk plan (diversify portfolio, capital allocation, time to participate in the market) as well as individual expectations for each investment channel.

YouTuber with a dream portfolio: Buying a home is becoming a burden, don't put it on yourself!  - Photo 2.

During the whole investment process, I will often review what I think is incorrect, unexpected and correct.

I approach investing with an open mind, considering short-term losses as an opportunity cost, school fees in the market to get much bigger results in the future. So what’s there to be afraid of? I’m just afraid that I lack knowledge, lack of capital to lose opportunities.

Have you ever lost money while investing? What was your most memorable loss?

Short-term losses are expected to be compensated by larger results in the future, so I have never cut losses so I have not lost money or memorable losses. “The only way to lose money forever is to decide to sell when the price drops and miss the chance to recover” (from Personal Financial Planning).

YouTuber with a dream portfolio: Buying a home is becoming a burden, don't put it on yourself!  - Photo 3.

In fact, those of you who have followed me for a long time know my investment journey in years: 2-3 years or even 5 years. As a person with a value investing mindset and a solid foothold, I invest for the long term in channels like Fund Certificates or stocks and ignore short-term fluctuations. Particularly for a volatile market like Crypto, although the investment round is shorter and a lot more volatile, thanks to an extremely careful and disciplined investment strategy and style such as taking profits and withdrawing capital, it should be time to time. Currently, there has never been a time to sell red to call it a loss or a loss (stealing, laughing).

    Renting and buying a house, what is your choice at the moment? Why?

Definitely rent a house.

Here we will approach the house to live in – ie care about more living experiences, such as location, living space, residential community… then we won’t put too much emphasis on ownership. If just for the sake of satisfying the feeling of ownership, which for me, inherently does not bring many benefits other than a vague feeling, partly comes from the imposition of social prejudices, instead of from the need, personal convenience. Then accept to spend a very large amount of money, even many people are willing to take on debt for 15, 20 or even 30 years, it is not worth it in my opinion. Ownership should be established only when the expenses are a moderate part of your total assets.

If you consider this an investment channel, which is an investment, you must take into account the profitability and liquidity, then the real estate channel is less attractive than other investment channels. Because the capital involved in the market is quite high, the liquidity is low, the profit rate is not too attractive, and the information is unclear, difficult to understand, the buying and selling procedures are complicated and potentially incurring many costs. fee.

Vietnamese people have long been attached to the mindset of ownership, invisibly turning the house into a burden rather than a place to enjoy.

    With a salary of 10 million/month, how do you think young people can buy a house in Saigon?

Buying a home is not a destination or goal that you are bound to achieve. I’m not advocating that you put your own financial shackles – owning a house on your own.

    Young people often have little capital or little money. Many young people wonder how much money they need to invest, and where to invest with low capital?

It is more important that you start waiting for enough money, enough capital to invest. Currently on the market there are many financial products that allow you to invest in a variety of channels such as securities, fund certificates, and certificates of deposit with capital of 50,000 VND, even 10,000 VND, so I think the only thing The biggest obstacle is you, not the capital barrier.

As long as you want, you can invest right away, not waiting for enough money.

    With the development of social networks, a series of TikTok and YouTube channels for financial advice were born. This seems great because the source of knowledge is open, but sometimes there are risks because the information has not been verified. Is there a way to filter and track reputable channels?

I know finance is a hot topic nowadays, and many people participate in what’s hot, but that doesn’t mean every channel has quality. If you choose the wrong source of information, it is easy to lose, I am not talking about money loss, but the biggest and most dangerous is the deviation in thinking about finance in general and investment in particular, and the Next is a waste of time.

YouTuber with a dream portfolio: Buying a home is becoming a burden, don't put it on yourself!  - Photo 4.

I have also encountered this situation in many people, especially young people. You do not go into reading and pondering the content, but you often rely on the outside to jump to conclusions quickly, and suffer from crowd psychology. When approaching a new information, you rarely criticize or learn in detail, ask questions but often listen, this is called one-way absorption, passive absorption.

Whenever I’m exposed to new information, I often ask myself questions like this: What is this person/source of information saying? Why do they say this? On what basis do they say that? If it is based on knowledge, can it be verified? If they are based on experience, are their experiences relevant to what they are saying? What is their attitude to this issue? And the motivation behind this sharing?

And of course, it is indispensable to try to find and verify information. In particular, I often read from different perspectives because with a lot of information, I have a multi-dimensional perspective, from which to refine my knowledge and have my own point of view.

In fact, most of my knowledge now comes from books and practical experience. That is, read the book, practice it, have experience, and draw lessons. Just like that, repeat.

    Currently, many young people have been engaged in financial investment, do you have any advice for them?

The first advice is that you must understand very well what your investment motivation is, it doesn’t just stop at the investment thing, but it is associated with the process of building personal finance. Once you understand enough, the motivation is strong enough, then you will focus on your investment path. This will be very different from those of you who invest in the trend or hear that this channel makes money fast, so jump in. Building personal finances is a lifelong undertaking.

YouTuber with a dream portfolio: Buying a home is becoming a burden, don't put it on yourself!  - Photo 5.

The second piece of advice is to get started. You can start with a moderate amount of capital, then gradually experience extra learning to accumulate experience and knowledge for yourself. Don’t wait, waste time.

Third, before investing anywhere, try your best to find out all the information, understand very well what channel you are engaged in, what your plan in this market / channel is. Understand well, be very clear and then invest in. And if you still hesitate, or invest because someone invites or says something, I advise you not to.

In the end, it’s about sharing, not really advice. Investing with me is more than helping money make money. The investment journey is also a process that helps me understand myself better: my vision, personality, expectations, greed. Each time the market wobbles, each time participating in a new channel is a time to understand yourself better, and also an opportunity to improve yourself from there.

Thanks for your sharing!

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YouTuber with a dream portfolio: Buying a house is becoming a burden, don't put it on yourself!  - Photo 7.

Photo: NVCC in-person-20220415153350014.chn

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