A financially savvy former refugee will retire next year at the age of 50, despite never earning a university degree.
Tung Nguyen, 49, fled to Australia by boat with his father and mother in 1979, when he was just three years old.
He now works in inner west Sydney as a senior corporate finance manager at Link Group, specializing in investments and equities.
His wife Sylvia is a project manager and the couple plans to retire when their daughter graduates high school late next year.
The secret behind Mr. Nguyen’s wealth is how he profited from using his self-managed retirement fund to invest in gold and cryptocurrency.
Tung Nguyen, 49, arrived in Australia from Vietnam at the age of three and has now earned enough money to retire with his wife by the time he turns 50
The financial guru said he has been investing in gold for as long as he can remember.
‘We were on the losing side of the game [Vietnam] War and Mother got Father out of a POW camp using gold, so… I understand the value of gold in a crisis,” he told the Australian Financial Statement.
Mr. Nguyen’s mother had bribed a prison guard in South Vietnam to free his father from the camp before the family could flee to Australia.
His mother has now passed away and his father remains in Sydney.
Mr. Nguyen explained that he got tired of paying for it ‘average financial advice’ from professionals in 2015, which led him to start investing on his own.
The secret behind Mr. Nguyen’s wealth is how he profited from using his self-managed retirement fund to invest in gold and cryptocurrency
Although neither he nor his wife have any financial qualifications, they have managed to fill their self-managed super fund with bitcoin and gold investments.
Cryptocurrencybitcoin and etherium in particular, account for about 20 percent of Mr. Nguyen’s wealth.
Typically, gold and cryptocurrency are not ideal for a retirement investment due to their volatility, but Mr. Nguyen is convinced now is the time to buy.
He said printing money during the pandemic and wars in Ukraine and Israel is destabilizing the value of the dollar.
Mr. Nguyen plans to spend his retirement traveling with his wife while helping other people learn the tips on how to make a fortune, as he did by writing a book.
He recently started a Facebook group with the aim of advising people on how to invest to save $1 million.
“It seems like a good end to a chapter, my wife and I could continue working… and have more money, but we wouldn’t be happier,” Mr. Nguyen said.
