What many people fail to realise is that there is a difference between investments and smart investments.
You need to have the right mindset and the aim to create wealth should underpin all your financial decisions.
To be a smart investor, you should allow your money to do the work for you and not the other way around.
Market volatility exists, but there are a few fundamental tips that are evergreen.
These simple, yet effective, tips are a staple for successful investors across the globe and can help you embark on the journey to achieve financial autonomy.
Set clear and realistic objectives
The primary step to investing smartly is to blueprint what goals and objectives you would like to achieve.
Once your objectives are in sight, it will become easier to gauge how much you need to invest and the tenure you wish to invest for, whether short or long term.
After identifying what you want to achieve, you can explore different investment strategies for your goals and how to achieve them.
However, it is imperative to understand that an overcomplicated set of goals through single stream investments can also lead to saturation, not only for the investment and wealth but also for yourself.
So, be clear about what you plan to achieve, the duration you wish to achieve it in and the viability of your objectives.
You can always take a moment to re-strategise if your current plan is too difficult to execute and change your goals to more realistic ones.
Start investing early
“The early bird gets the worm” and investment metrics agree.
When you start investing early, you give your investments enough time to grow through the power of compounding.
You don’t have to invest an exorbitant amount, even simple but safe investments can help you create more wealth for yourself, leading to more financial security in the future.
No matter your age, it’s never too late to start.
Save and then invest
Saving for rainy days is crucial, but to ensure you have enough to sustain your financial goals, investing is imperative.
You can use the 50:30:20 budgeting rule, allowing you to spend 80 per cent of your income on your necessities and wants, while the rest can simultaneously be used for investing.
Moreover, making investments based on borrowed funds is not the right choice.
Watch: what is a recession?
You should only invest from your savings rather than relying on borrowed money or loans.
Even saving small amounts every month can lead you to having a big investment portfolio that is sufficient to help you through turbulent times.
Diversify your portfolio
Diversification is key to generating greater wealth.
The concept is simple, yet effective. Instead of relying on just one investment throughout your life, diversify.
This can also act as a safety net in the event of your investment plummetting as other investments will recuperate some of the amount lost.
Seasoned investors know that it is a strict “no” to invest in just one asset class. It is ideal to mix and match different assets.
There will be losses, but with the right temperament and mindset, you can learn from these losses and apply the acquired knowledge to avoid market pitfalls
Shivansh Rachit,
board member and founder, Hedge & Sachs
This not only helps with premium returns, but also ensures better liquidity and helps to navigate market volatility.
Be a risk-taker
Last but not the least, be a risk-taker. You should be courageous and willing to take risks to grow your wealth.
There will be losses, but with the right temperament and mindset, you can learn from these losses and apply the acquired knowledge to avoid market pitfalls.
While being cautious is good, when it comes to investing, it is vital to have the mindset of a risk-taker.
If you are completely hesitant to take risks and do not want to venture into anything that involves risk, you may end up making big mistakes and lose out on a lifetime of gains.
You only need to be focused and willing to invest, and you’re already halfway there!
Shivansh Rachit is board member and founder of asset management company Hedge & Sachs
UAE currency: the story behind the money in your pockets
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Four tips to secure IoT networks
Mohammed Abukhater, vice president at FireEye in the Middle East, said:
- Keep device software up-to-date. Most come with basic operating system, so users should ensure that they always have the latest version
- Besides a strong password, use two-step authentication. There should be a second log-in step like adding a code sent to your mobile number
- Usually smart devices come with many unnecessary features. Users should lock those features that are not required or used frequently
- Always create a different guest network for visitors
England squads for Test and T20 series against New Zealand
Test squad: Joe Root (capt), Jofra Archer, Stuart Broad, Rory Burns, Jos Buttler, Zak Crawley, Sam Curran, Joe Denly, Jack Leach, Saqib Mahmood, Matthew Parkinson, Ollie Pope, Dominic Sibley, Ben Stokes, Chris Woakes
T20 squad: Eoin Morgan (capt), Jonny Bairstow, Tom Banton, Sam Billings, Pat Brown, Sam Curran, Tom Curran, Joe Denly, Lewis Gregory, Chris Jordan, Saqib Mahmood, Dawid Malan, Matt Parkinson, Adil Rashid, James Vince
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The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
The specs: Audi e-tron
Price, base: From Dh325,000 (estimate)
Engine: Twin electric motors and 95kWh battery pack
Transmission: Single-speed auto
Power: 408hp
Torque: 664Nm
Range: 400 kilometres
A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
WORLD CUP FINAL
England v South Africa
Yokohama International Stadium, Tokyo
Saturday, kick-off 1pm (UAE)
