Self-portrait without a beard by Vincent Van Gogh is one of the most expensive paintings of all time, selling for $71.5 million (Dh263m) in 1998. Van Gogh is considered a prolific self-portraitist, painting himself at least 37 times during a career cut short by suspected suicide when the artist was just 37. Today, however, 37 self-portraits in 37 minutes isn’t out of the question. The birth of the smartphone has greatly facilitated self-portraiture.
Most of our contemporary self-portraits, however, are works of technology, rather than works of art. The self-portrait has been reduced to the “selfie”. The term first appeared in 2004 on sites such as Flickr and MySpace, rapidly working its way into the global vocabulary of the technologically literate. By 2013, Oxford Dictionaries Online hailed “selfie” as its word of the year, defining it as “a photograph that one has taken of oneself, typically one taken with a smartphone or webcam and uploaded to a social media website”. Although many of us occasionally point a cameras at our own heads, we still tend to have mixed feelings about the selfie. On the positive side, we might view the selfie as the democratisation of self-portraiture: yet another example of a new technology enabling “the many” to have access to what was once reserved for an elite few.
More cynically, we might view the selfie as a vacuous act of vanity; the logical outgrowth of the “self-esteem” movement. For decades we have taught our schoolteachers to cultivate high self-esteem in students, and many argue that this practice – along with a culture of empty celebrity – has contributed to generational narcissism. The generation – often referred to as Generation I – is characterised by individuals deeply committed to a belief in their own specialness, self-worth and entitlement.
In defence of the selfie, a Generation I Twitter user might argue: “I just want to share my beauty and amazing experiences with my followers.” And perhaps sometimes this is the case. For sure, the selfie is often a self-indulgent act of vanity and exhibitionism, but perhaps at other times, it is a form of generosity, selfless sharing – the selfless selfie.
From a mental health perspective, psychiatrists at Thailand’s department of mental health recently warned that those not getting enough positive feedback for their selfies often feel compelled to take and post more images, perhaps even increasingly risqué or outrageous images. This cycle of seeking self-esteem boosts by posting selfies is ultimately viewed as having negative consequences for mental health, especially when the expected level of positive feedback is not achieved.
It is also worth considering that the selfie is not always a decontextualised headshot. Very often it is an attempt to capture a special moment and generate evidence of one’s involvement – “this is me in front of Emirates Palace, and this is me with Steven Gerrard”. However, there is emerging evidence that the self-centric snap-happy may actually be degrading their memories while trying to capture magic moments.
Dr Linda Henkel, a cognitive psychologist at Fairfield University, Connecticut, describes this phenomenon as “photo-taking impairment effect”. In a recent article published in the journal Psychological Science, Dr Henkel describes an experiment where one group of students are asked to photograph exhibits at the Bellarmine Museum of Art, while another group simply browse the exhibits, eyes-only. When tested the following day, the eyes-only group were far better at recognising objects from the museum’s exhibit. Dr Henkel suggests that when we photograph objects it is often a rather mindless activity, so the memory doesn’t hold.
Ironically, in our often-desperate attempt to capture magic moments, we may actually be losing them. Some might argue: who needs a memory, when you can just review the images? But the poor organisation and sheer volume of the digital images many of us amass makes this a daunting task, especially if we are busy trying to capture new images.
During the final weeks before apparently taking his own life, Van Gogh painted prolifically. He painted no self-portraits, but rather, his attention was redirected to painting the natural world. Some art historians have suggested that Van Gogh’s lasting fame owes as much to his self-harm as it does to his self-portraiture. Perhaps in our age, self-portraiture is a form of self-harm?
Justin Thomas, an associate professor at Zayed University, is the author of Psychological Well-Being in the Gulf States: The New Arabia Felix
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What is Diwali?
The Hindu festival is at once a celebration of the autumn harvest and the triumph of good over evil, as outlined in the Ramayana.
According to the Sanskrit epic, penned by the sage Valmiki, Diwali marks the time that the exiled king Rama – a mortal with superhuman powers – returned home to the city of Ayodhya with his wife Sita and brother Lakshman, after vanquishing the 10-headed demon Ravana and conquering his kingdom of Lanka. The people of Ayodhya are believed to have lit thousands of earthen lamps to illuminate the city and to guide the royal family home.
In its current iteration, Diwali is celebrated with a puja to welcome the goodness of prosperity Lakshmi (an incarnation of Sita) into the home, which is decorated with diyas (oil lamps) or fairy lights and rangoli designs with coloured powder. Fireworks light up the sky in some parts of the word, and sweetmeats are made (or bought) by most households. It is customary to get new clothes stitched, and visit friends and family to exchange gifts and greetings.
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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UAE currency: the story behind the money in your pockets
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WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Afcon 2019
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Senegal v Tunisia, 8pm
Algeria v Nigeria, 11pm
Matches are live on BeIN Sports
The studios taking part (so far)
- Punch
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- Sweat
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- The Hot House
- The Room
- Inspire Sports (Ladies Only)
- Cryo
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Dubai Creek Open in numbers
- The Dubai Creek Open is the 10th tournament on this year's Mena Tour
- It is the first of five events before the season-concluding Mena Tour Championship
- This week's field comprises 120 players, 21 of which are amateurs
- 15 previous Mena Tour winners are competing at Dubai Creek Golf and Yacht Club
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.