Paraphrasing Monty Python, purely to get your attention, but it’s a valid question. I am in an industry that is frequently criticised in the UAE, often for good reason, but let me explain why using a qualified adviser (rather than a salesperson pretending to be an adviser) is a good thing and how you can benefit.
This article has been updated with effect from 28th August 2023.
Please see here for the latest version:
Currency transfers – how to get the best rates with full security
As many will be aware, I have been writing about UAE employment regulations, and other matters, in my weekly column in The National newspaper since 2008. This is addition to my main business as an Independent Financial Adviser. All columns are online but in view of the current economic situation in relation to COVID-19, I thought it would be useful to clarify both employee and employer rights at this time.
No one can avoid this subject right now but, in this article, I want to address the financial concerns, specifically in relation to investments. Global stock markets fell last week, the largest falls over a couple of days for 10 years, although some are moving upwards again at time of writing, and I do not believe this is a major cause for concern.
The UK’s Chancellor of the Exchequer, Philip Hammond, has today delivered his Spring Statement. Less formal or broad in scope than the Budget, which moved to the Autumn last year, this is not about announcements on tax or spending, but more about economic forecasts.
The Chancellor himself describes this as a ‘non event’ from a financial point of view but since 1975, the government has been legally obliged to produce its projections for the economy and the public finances twice a year. That’s why have a main budget and this lower key announcement.
The question for expats, as ever, is how does it affect us?
At this time of year it is popular to make New Year resolutions, but how many of those are about our finances? Making sure you are financially fit is as important as vowing to visit the gym regularly but once you’ve taken the initial steps is less time-consuming and you can do most of it whilst sat comfortably on your sofa.
We all have to spend money but can you do it more smartly? Invariably we could all spend less and save more and a little focus rarely goes amiss. With that in mind here’s a list of 10 steps you can take to get yourself financially fitter in 2019.
There is no doubt that many youngsters leaving school this summer are lacking in practical knowledge about their finances. It is important to have some financial knowledge to safely negotiate the adult world so here are some points that every young person should know about money.
This article has been updated so please see link for the latest version:
Are your investment funds in the dog house? | Financial Planning in the UAE (financialuae.me)
If you would like a chat about your investments and are interested in active future management, or have queries about any aspects of personal financial planning email me at keren@holbornassets.com
The sad and somewhat worrying fact is that anyone can suffer from a serious illness at any time. It doesn’t matter how healthy you feel, and serious illness does not discriminate by gender, age, nationality or income.
Have you considered how you are your family would manage if you were seriously ill, or if your partner became ill and unable to work for an extended period? Not happy thoughts but ones that need to be addressed.
The statistics for serious illnesses in the UAE are significant, even for a relatively young population, when compared to countries with large numbers of retired residents.
Your medical insurance should cover the cost of treatment but it won’t replace an income. That’s where critical illness cover comes in. This is a plan that will pay out a cash lump sum in the event that the policyholder is diagnosed with a serious illness and this insurance is both important and worthwhile.
Consider the statistics for the UAE:
Following some months of speculation it has been announced that IFGL, which owns RL360°, will acquire FPIL (Friends Provident International Limited) from the Aviva Group, subject to regulatory approval.