What is the best for savings or investments in the UAE?
Thank you for reading this post, don't forget to subscribe!Thank you for reading this post, don't forget to subscribe!You probably think buying local property in the UAE or investing back home is best?
That is understandable as it is familiar to you.
But those options usually aren’t the best available.
Consider some inescapable facts if you are an expat in the UAE:
You will probably return to your home country one day or keep moving worldwide.
You won’t retire in the UAE unless you have a lot of money invested.
Regardless of your current salary, you might be investing less than people back home because there are no compulsory investment schemes in the region. Whereas, back home, the taxes partly pay for that
We will all probably get sick or old unless we die in our sleep unexpectedly.
Given these facts, it makes sense to invest in something that is globally portable, meaning you can take it with you if you leave the UAE.
I have clients, friends, and associates all around the world. Sometimes, people get overly invested in their country of residence and investing.
I saw it with Dubai property in 2011–2014. So many Dubai expats got their fingers burned and couldn’t sell their condos.
So, the fundamentals of the `Dubai expat market` are the same as those of any other place.
Be globally diversified
You will probably move home or go to another market one day. So it would be best if you had something that is globally diversified.
As an expat, you are probably busy. So, it is best to have options that save you time and money. Online options are good in that regard.
Not focusing too much on the local stock market.
Not investing in too many individual shares and speculative behaviours.
Watch your currency risks.
Ignoring media sensationalism about elections, viruses, and other indicators is best. As I mentioned in a recent CNBC interview, these things seldom affect stock markets long-term:
So, a good investment in the UAE isn’t much different from a good investment for an expat in Hong Kong, Singapore, or Belgium.
By definition, a UAE-only investment isn’t a good option if you are an expat moving around.
So focus on long-term, quality, diversified and global investing.
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