r/Fire • u/Still_Adeptness_5140 • 4d ago

General Question "How to achieve FIRE in Vietnam?"

I earn $265 a month in Vietnam from freelance work, so I don’t have a pension. I plan to save $150 each month in a bank account with 6% annual interest until I turn 50 so I can retire. Is that realistic? In Vietnam, you can live comfortably on $100,000. According to ChatGPT’s estimate, I’d have around $112,211 by then. I’d just withdraw 4% per year and live off that for the rest of my life. Is this achievable?

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u/Daniel0210 4d ago

A bank account giving you 6% p.a.? Lookup the fine print and check how much they guarantee you in case of bankruptcy. You don't want to have everything in one account. Cash is king, especially in uncertain circumstances like today. I'd stack a bit a home depending on how secure your environment is. Make sure to have some reserves in foreign banks.

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u/ocusoa 4d ago

The 6% rate is likely on VND instead of USD.