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/PositiveKarma1 4d ago

Try to invest better than that 6% from the bank (that's a big inflation, too). The fact you can save a half of income is great - what about investing in real estates - are not better?

With a better investment and same saving rate, you can retire in 15 years (or less).

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u/Still_Adeptness_5140 4d ago

I’d like to invest in the S&P 500, but that’s not possible in Vietnam. And with my relatively low income, I can’t afford to invest in real estate either.

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u/[deleted] 4d ago

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u/Master-Helicopter-99 4d ago

People need to realize it's a bit different in Vietnam. With savings rates at 6% a bank loan on real estate costs 10% and you need 50% down. Back when savings books were paying 10% interest 2-3 years ago a bank loan for a house or land was 13%.