What should a single woman do with some $40,000 in cash?

By Ngoc Hoa   April 30, 2024 | 03:15 pm PT
My savings account has recently reached VND1 billion (US$39,456), but the low bank interest rates are yielding little monthly income, prompting me to consider alternative investment opportunities.

I am a 40-year-old woman with a steady career, earning a total monthly income of VND30 million, which includes VND10 million from my full-time job and the rest from various side projects. Currently single and living with my parents, I have also set aside funds for emergencies for both myself and my parents, and I hold some investments in gold.

Recently, the stress of managing both my full-time job and side hustles simultaneously has been overwhelming, so I have decided to focus solely on my primary job starting next year. This decision necessitates finding methods to generate passive income.

Given the low interest rates offered by banks, I am contemplating purchasing land as a long-term investment, which suits me as I lack extensive experience and knowledge in investing. However, I am reluctant to take out a loan to finance this purchase due to my concerns about accruing debt and my uncertainty about continuing in my current job.

Therefore, I am thinking about buying a plot of land in my hometown with the plan of selling it for a profit in around five to 10 years. Does this sound like a reasonable plan?

go to top