Happy Veterans’ Day!

Being that it is Veterans’ Day today, I wanted to share a story that has relevance to our veterans and our great country.

I have a client in Real Estate who I met just over 7 years ago named Mr. Dinh.  He moved here from Vietnam 12 years ago (at that time) and is the best example of the American dream that I personally know.  When he came to America (legally), he didn’t speak any english, didn’t know anybody except his sister who married an American G.I. and didn’t have any money.   He was 25 years old when he came to the United States.

Today, Mr. Dinh owns 7 homes, a few of them outright (paid off the mortgage in full) and makes $80K a year as a foreman and head auto mechanic.  How can he own 7 homes making just $80K a year?  He DOES NOT spend money frivilously.  He is the most frugal and hard working person I know.  He told me today that he spends just 20-30% of what he makes, at most.  The rest he saves. 

He owns both of his cars outright, a Honda Accord and a Toyota Camry.  Neither of them are new models, but they are decent and he will tell you that buying a new car is a waste of money.  He doesn’t dress in fancy clothes, of course being an auto shop forman and mechanic makes it easier on that issue.  He will save literally $30-$40K each year to pay down his mortgages, and invests around $20K as well.  He lives on about $20K a year.

We were talking today about the dismal economy and the slow housing market and he said that being from Vietnam, he knows how bad things can get.  When he earns money, he saves it.  When many Americans earn money, they spend it.  A new flat screen television, a new car, a new motorcyle or boat, some nice new stylish clothes, a vacation, etc.  THEN, the economy turns to crap and many of them lose everything.  They then cry and whine for a handout from the government.  All this time people like Mr. Dinh (I doubt there are too many) are doing just fine…  living very comfortably and amazed at the “stupidity” of the masses. 

I have to say that I learn a lot everytime I talk with him, and I wish I had learned the hard lessons he is talking about a long time ago.  But he is the living embodiment of the American dream.  A legal immigrant who came here with the hope of doing better.  He didn’t get any assistance from the government or anyone else.  He sacrificed his time and energy to save money and invest it wisely in things that grew in value. 

You know that immigrants coming to America achieve financial success at a rate of 4:1 over native born Americans.  Why do you suppose that is?  For one thing, they know what it’s like to really suffer, and they become better for it.  They do not spend money wrecklessly and they save and invest nearly every penny they make. 

Another factor is that they are LOOKING for opportunity.  When you are actively looking and thinking, it’s amazing what you will find.  Most Americans walk right by opportunity every day, and never see it.  It’s like when you buy a new car, and suddenly you see the same model and color of car everywhere!  Why?  Your brain is now focused on that vehicle, and you suddenly realize that they are all over the place.  The same thing applies to opportunity.  Or like when you learn a new word.  You learn the definition of a word you had never heard of before, then within a matter of days you see that word in an article or book you are reading.  Amazing!  Where was that word before?  It was always there, you just weren’t focused on it so your brain didn’t register it at all.

Mr. Dinh is an inspiration to me, and he should be to many others as well.  Thank our Veterans today for making freedom work, and giving us the opportunity to succeed.  Whether or not we take advantage of that opportunity is up to us.  But I suspect that the fallen vets would all hope that we do, to honor what they fought for.

Thanks Veterans, for your service.  I hope we see a lot more stories like Mr. Dinh’s. 

Tags: dad, dadsworld, economy, freedom, mom, parents, real estate, team gray, united states, vietnam