How to keep money when having 30 million VND surplus each month?

That is the advice of personal financial consultant Nguyen Thi Thu Huong - FIDT Investment Consulting and Asset Management Joint Stock Company.

She believes that if you don't have any personal financial plan, when you have 30 million VND/month left, the first thing you need to do is prepare some financial backup plans for yourself and your family.

Accordingly, the financial plan will consist of two parts. The first part is the emergency reserve fund, corresponding to 3-6 months of essential expenses. This fund should be allocated to a savings account for 1-6 months to ensure liquidity and optimize capital. The second part will be life insurance and health insurance. This is a factor that experts recommend as almost mandatory before making an investment, because the support from insurance when an insured event occurs will minimize the impact on the long-term investment plan of yourself and your family.

“ The insurance coverage should be 5-8% of income or 1% of assets, whichever is greater, ” the expert recommends.

Once you have a financial backup plan in place, you can consider where to keep your money. (Illustration)

After completing the above steps, you will continue to the planning and investment portfolio section. With a balance of 30 million VND/month, you can classify as follows:

“ First, you can invest in gold. Although the price of gold is currently volatile and has just experienced a period of hot growth, this is still a particularly popular investment channel for those looking for safety and capital preservation in an unstable economic context. However, a middle-class person should only hold gold at a ratio of 5-10% of total assets ,” the expert recommended.

Next, you should put your money into stocks and fund certificates. For stocks, investors need to have high knowledge and discipline. This channel has many risks. If you do not want to take risks and spend too much time, you can invest indirectly through fund certificates. Some advantages of this channel are low investment costs and low risk because the investments are managed by experts.

In addition, with a surplus of 30 million VND/month, using financial leverage to invest in real estate is also worth considering. However, the following conditions must be met: The interest rate for real estate investment should be below 9%/year; The total loan amount must not exceed 75% of the total monthly savings.

According to experts, these are investment channels and also the most effective ways to keep money when a person has 30 million VND left over each month.

Cong Hieu

Source: https://vtcnews.vn/nen-giu-tien-the-nao-khi-moi-thang-du-30-trieu-dong-ar908035.html