Why I choose gold for long term savings

Two years later, in 2025, it reached VND100 million, marking a 21-fold increase, or 10% growth per year.

Gold bars. Illustration photo by Pexels

Although gold prices have risen not as fast as inflation, as a basic banh mi that cost VND500 in 1993 now sells for VND15,000, a 30-fold increase, or 11.2% per year, gold remains a reliable way to save.

Every month, if I have VND10 million left after expenses, I buy a mace (one tenth of tael) of gold instead of spending it unnecessarily. This way, I can still cover my essentials while avoiding impulse purchases and focusing on long-term savings.

If I buy gold at VND100 million per tael today and the price drops to 90 million next month, I won’t worry. Even if it falls to 80 million, I’ll keep buying. In fact, I might buy more to compensate for future months when prices rise to 110 million, allowing me to sell for a profit if I need to.

The key is to work hard, earn more, and turn extra income into long-term assets like gold. Once your savings grow, they open doors to bigger financial goals like buying a home, supporting parents, or starting a family.

My parents lived on modest salaries, yet disciplined saving meant they never had to borrow money for major expenses. Now, I’m following their example to make my life easier.

My advice: treat gold as a long-term savings plan. Whether you buy in mace or tael depends on your budget, but consistency is key. Buy low and avoid chasing trends blindly. Only sell when necessary—like for a wedding, medical emergency, or home construction. Chasing short-term price swings turns gold into a liability, not an asset.

Editor's note: Gold prices in Vietnam have topped VND100 million per tael for the first time this month, as global gold surpassed $3,000 per ounce. Gold prices have surged 66.6% in just 18 months. Its value has doubled in under three years since September 2022, when it was around VND51 million per tael. Experts call this Vietnam's strongest gold rally in 14 years, a rare event.