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Dear reader,

There’s no denying that 2022 was a tumultuous year for global stock markets, giving investors a serious case of bear market blues.

While we are still far from those exciting highs of 2021, investors are much more optimistic this year, as former tech heroes such as Apple, Meta Platforms and Amazon make a welcome recovery – driven, of course, by all things AI.

Sure, we still have to contend with inflation and rising interest rates but the summer months could provide us with an opportunity to buy low before a possible rally in the final months of the year. At least that’s what historical data tells us.

Meanwhile, do you know how much it takes to join the world's richest 1 per cent club?

It varies around the world but if you lived in Monaco, for instance, you'd need a whopping $12.4 million, according to a new report. Fingers crossed that historic data is correct and we'll see a stock market rally at the end of the year, which might give some of us a shot at becoming a member of this exclusive club.

Don't forget to scroll down to check out our readers' money saving tip – this week, it is about cutting back on unused subscriptions. You can email pf@thenationalnews.com to share your best tips.

Felicity Glover
Personal Finance Editor


Three ways to invest $10,000 in the next three months

Stock markets are showing signs of a recovery. Getty
Stock markets are showing signs of a recovery. Getty

Stock markets have made a solid start to 2023 after last year’s meltdown, but the next bull market lies tantalisingly out of reach.

Inflation still remains a major threat, forcing central banks to continue raising interest rates and delaying the long-awaited policy “pivot” by the US Federal Reserve.

The summer is often a slower period for markets but it can also be an opportunity to get in early before prices rally in the final months of the year, as seems to happen more often than not.

If you are looking to invest $10,000 (Dh36,725) over the next quarter, here are three top investment trends to consider right now.

Read the full story by Harvey Jones …


Are you in the richest 1% of the UAE?

You need $1.6 million to join the UAE's rich club. Getty
You need $1.6 million to join the UAE's rich club. Getty

You will need a net worth of $1.6 million to join the UAE’s richest 1 per cent, according to global property consultancy Knight Frank.

To join the exclusive group in Saudi Arabia, a person requires a net worth of $740,000.

But the most expensive country to join the world's top wealth bracket is Monaco, where a person will need $12.4 million, the 2023 Wealth Report found.

Read the full story by Deepthi Nair …


In case you missed it

In the latest Debt Panel feature, our expert panellists advise a reader who left the UAE without paying off their credit card.

You might be surprised to learn that the net worth of OpenAI’s chief executive Sam Altman hasn’t yet reached a billion-dollar status – but there is a good reason for that.

Asking your boss for a pay rise can be a daunting task – follow these four tips for success.


Money & Me


Money saving tip #3

Staying on top of your monthly and annual subscriptions can be difficult – and a waste of money if you are no longer using them. From streaming services such as Netflix and Apple TV to Spotify, product boxes, newspaper websites and meal kits, you can subscribe to almost anything these days.

But when you add up the total annual cost of your subscriptions, it can be quite a shock, more so as they are usually automatic deductions and you are less likely to notice the payments.

If you are concerned about your budget and want to potentially save hundreds of dollars or more a year, it could be time for a subscription “detox”: go through your bank statements and decide which ones you don’t need or use any more and simply cancel them.

Have you got a great money saving tip? Email it to us at pf@thenationalnews.com for a chance to be featured.


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