How to invest on your own and achieve financial independence – Pocketful of Dirhams
A new guide from SimplyFI.org can help novices learn the basics of investing in a couple of hours
For people new to the world of investing, buying stocks can be a scary concept, particularly during periods of extreme volatility.
But according to SimplyFI.org, a non-profit community of personal finance and investing enthusiasts in the UAE, investing does not need to be complex at all. It says the process can actually be quite simple and you can master the basics in a couple of hours.
To help residents achieve this, the group has launched its first guide to investing. Called Index Investing & Financial Independence for Expats, Getting Started Guide, it can be downloaded for free from SimplyFI.org or through their Facebook page.
The group, whose other goal is to help each another achieve financial independence, believes the best way to generate wealth for your future is to put your money in low-cost exchange traded funds (ETFs), and leave it there over the long term.
So what does this new guide teach us? How does a passive investment strategy help secure your financial future? And how can we all go about achieving financial independence?
Host Alice Haine, the personal finance editor of The National, is joined by Elie Irani, the guide’s main author and a board member of SimplyFI.org, and Sebastien Aguilar, who founded the group in the UAE.
Listen to last week's episode for advice on how to secure the best deal on remittances from the UAE
Updated: July 14, 2020 08:52 AM