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
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Dubai Women's Tour teams
Agolico BMC
Andy Schleck Cycles-Immo Losch
Aromitalia Basso Bikes Vaiano
Cogeas Mettler Look
Doltcini-Van Eyck Sport
Hitec Products – Birk Sport
Kazakhstan National Team
Kuwait Cycling Team
Macogep Tornatech Girondins de Bordeaux
Minsk Cycling Club
Pannonia Regional Team (Fehérvár)
Team Auvergne-Rhône-Alpes
Team Ciclotel
UAE Women’s Team
Under 23 Kazakhstan Team
Wheel Divas Cycling Team
Men's football draw
Group A: UAE, Spain, South Africa, Jamaica
Group B: Bangladesh, Serbia, Korea
Group C: Bharat, Denmark, Kenya, USA
Group D: Oman, Austria, Rwanda
