As a teenager, Michelle Hine, the eldest daughter of Australian immigrants, vowed to become a millionaire by the age of 30.
Now at 26, she considers this ambition “a bit of a whimsical promise,” influenced by the sacrifices made by her non-English-speaking parents to support their family.
To fulfill her dream, she plans to invest her savings in the stock market, focusing on long-term growth.
“Times have changed significantly; investing is now essential,” said Huynh, who works in sales for a high-tech company. “It feels like our purchasing power is diminishing, and investing is the best solution to counter this.”
This year, a surge in technology stocks has brought her closer to her financial goal.
By mid-July, her investments had increased by 50%, amounting to A$31,000 (£16,100, $21,666), as over a third of her portfolio was allocated to tech stocks.
However, that gain has since dipped to approximately A$22,000 during what she describes as “the most challenging period.”
Huynh views her investments as long-term strategies and is ready for market fluctuations.
The surge in tech stocks, driven by the artificial intelligence (AI) boom, is captivating a growing number of retail investors, particularly in their 20s and early 30s, despite warnings from analysts about the potential overhype of AI.
Individual investors are getting swept up in the excitement, ignited by social media and targeted marketing efforts aimed at attracting non-experts, according to Glenn Tan from advisory firm Providendo.
Source: www.bbc.co.uk