Aristos Panteli recalls living from one pay cheque to the next at one stage of his career in Cyprus. However, financial literacy and investing in himself have helped turn his life around in the UAE.
Today, he is a millionaire and has an emergency fund that can sustain his family for 20 years.
Mr Panteli, 38, worked as a teller in a bank for 10 years in Cyprus before moving to the UAE in 2021.
He currently works as a senior institutional manager at a forex broker in Dubai.
The Cypriot lives in Business Bay, while his wife and 12-year-old son visit him several times a year.
What was your first job and salary?
I started working in Cyprus at the age of 14 in KFC. I used to help marinate chicken. I was paid less than $3 an hour, so earned about $400 a month.
My first proper job was as a teller in the banking industry in Cyprus in 2009 after I finished my bachelor’s degree in electrical and electronics engineering from the University of Liverpool in the UK. I was earning $1,100 a month.
I completed my MBA in Limassol, Cyprus, while working in banking and also got a diploma from the American Bankers’ Association.
I worked in the banking industry in Cyprus for 10 years. At the same time, I was focusing on my bodybuilding career and participated in more than 30 competitions globally and met my idols such as Ronnie Coleman and Arnold Schwarzenegger.
Why did you move to the UAE?
I wanted to move out of Cyprus, where I was working for a company that dealt in financial markets.
After leaving that role, I was unemployed for eight months, and used loans and overdrafts to survive.
At the start of 2021, I applied for more than 1,200 jobs on LinkedIn, with zero results.
I finally got a call from a recruiter for a role in the UAE, a country I had visited twice earlier, and that is how I joined as a senior account manger with my current employer in Dubai.
I came to the UAE with about $500 after paying off all my debts.
Tell us about your current role and how much you earn.
I work as a senior institutional manager. I help clients get the best partnership deals to grow and scale their business by investing in financial markets.
My fixed salary is Dh22,000 ($5,990) a month. But my monthly income can go up to Dh80,000 after including commissions.
Do you manage to save?
Yes, I am a millionaire. I receive a 5.07 per cent interest rate on certificates of deposits with a local bank. I have several fixed deposit accounts.
I was not financially literate earlier and used to live from pay cheque to pay cheque. But when I came to Dubai, I met both millionaires and people who earned small salaries but still managed to save and send money home. This influenced my outlook towards money and made me more frugal.
What asset classes do you invest in?
I like to be liquid, so mostly keep my money in banks that offer high interest rates.
Then, I prefer to invest in myself. I spend about $800 every month on my education. I also spent $25,000 on a degree in sales and business development from Cardone University to upskill myself.
I spend on my fitness and health, and to gain more knowledge and skills.
Have you purchased property here or in your home country?
No, I prefer to remain flexible and liquid, and therefore stay in hotels.
Do you have any debt?
I do not have any loans. I use a credit card but pay it off in full every month and use the cashback facility, access to lounges and other promotions it offers.
You need to be clever with your money. That is why financial literacy is important and it needs to be taught in schools.
Growing up, were you taught how to handle your finances?
No. I learnt how to deal with finances after committing money mistakes.
I remember losing €4,000 ($4,298) in a casino in Cyprus on Christmas day in 2022. I was playing slot machines for 28 hours. That was a black swan event and I decided to improve my financial literacy and spend my money wisely.
I turned my obsession into a positive habit by listening to audiobooks. I listen to 35 books a month, seven hours daily and 12 hours at the weekend.
What are your major monthly expenses?
My expenses come to between Dh15,000 and Dh20,000 a month.
I spend mostly on my education, groceries and rent.
How do you budget your salary every month?
I allocate a certain amount to pay off my credit card every month. Credit cards are the best way to budget because you get a statement that shows where you spend money.
Self-discipline is key because there are so many distractions to spend money on.
Have you started saving for retirement?
I already have money in many savings accounts in the UAE.
I do not want to retire because I love what I do.
Do you have an emergency fund?
Of course. It can sustain me for more than 20 years. With my knowledge and skills, my family and I can lead a comfortable life.
2024 UAE banking, finance and advisory salaries
What do you spend your disposable income on?
I spend it on my family, either travelling, watching movies or eating out. I spend about $20,000 a year on holidays with my family.
Do you worry about money?
No, I do not because I have already made my money.
But in the beginning of my career, I was always worried about money. I did not have the skills or knowledge to become financially independent. So, my goal was to achieve financial freedom.
Today, I do not waste my time on chores such as laundry, groceries or driving because I want to focus on becoming a better version of myself and spend time with my clients.
What are your financial goals?
My financial goal is to increase my passive income.
I want to be useful and give something back to the UAE society because it has made me who I am. That is my number one goal.
What is your idea of financial freedom?
To have $100 million readily available in my portfolio.
Do you have any money saving hacks to beat inflation?
Increase my earning capacity and scale up my personal brand by continuing to learn more skills and acquire knowledge.
The more you learn, the more you earn and are more valuable in the market.
Do you want to be featured in My Salary, a weekly column that explores how people around the world manage their earnings? Write to pf@thenationalnews.com to share your story
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
STAGE%201%20RESULTS
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
More from Rashmee Roshan Lall
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
MATCH DETAILS
Juventus 2 (Bonucci 36, Ronaldo 90 6)
Genoa 1 (Kouame 40)
Veere di Wedding
Dir: Shashanka Ghosh
Starring: Kareena Kapoo-Khan, Sonam Kapoor, Swara Bhaskar and Shikha Talsania
Verdict: 4 Stars
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
HUNGARIAN GRAND PRIX RESULT
1. Sebastian Vettel, Ferrari 1:39:46.713
2. Kimi Raikkonen, Ferrari 00:00.908
3. Valtteri Bottas, Mercedes-GP 00:12.462
4. Lewis Hamilton, Mercedes-GP 00:12.885
5. Max Verstappen, Red Bull Racing 00:13.276
6. Fernando Alonso, McLaren 01:11.223
7. Carlos Sainz Jr, Toro Rosso 1 lap
8. Sergio Perez, Force India 1 lap
9. Esteban Ocon, Force India 1 lap
10. Stoffel Vandoorne, McLaren 1 lap
11. Daniil Kvyat, Toro Rosso 1 lap
12. Jolyon Palmer, Renault 1 lap
13. Kevin Magnussen, Haas 1 lap
14. Lance Stroll, Williams 1 lap
15. Pascal Wehrlein, Sauber 2 laps
16. Marcus Ericsson, Sauber 2 laps
17r. Nico Huelkenberg, Renault 3 laps
r. Paul Di Resta, Williams 10 laps
r. Romain Grosjean, Haas 50 laps
r. Daniel Ricciardo, Red Bull Racing 70 laps
Race 3
Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
Rating: 2.5 stars
Mubalada World Tennis Championship 2018 schedule
Thursday December 27
Men's quarter-finals
Kevin Anderson v Hyeon Chung 4pm
Dominic Thiem v Karen Khachanov 6pm
Women's exhibition
Serena Williams v Venus Williams 8pm
Friday December 28
5th place play-off 3pm
Men's semi-finals
Rafael Nadal v Anderson/Chung 5pm
Novak Djokovic v Thiem/Khachanov 7pm
Saturday December 29
3rd place play-off 5pm
Men's final 7pm
The 12
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
Juliet, Naked
Dir: Jesse Peretz
Starring: Chris O'Dowd, Rose Byrne, Ethan Hawke
Two stars
Story%20behind%20the%20UAE%20flag
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Teams
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals
AL%20BOOM
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
Poland Statement
All people fleeing from Ukraine before the armed conflict are allowed to enter Poland. Our country shelters every person whose life is in danger - regardless of their nationality.
The dominant group of refugees in Poland are citizens of Ukraine, but among the people checked by the Border Guard are also citizens of the USA, Nigeria, India, Georgia and other countries.
All persons admitted to Poland are verified by the Border Guard. In relation to those who are in doubt, e.g. do not have documents, Border Guard officers apply appropriate checking procedures.
No person who has received refuge in Poland will be sent back to a country torn by war.
Sri Lanka squad for tri-nation series
Angelo Mathews (c), Upul Tharanga, Danushka Gunathilaka, Kusal Mendis, Dinesh Chandimal, Kusal Janith Perera, Thisara Perera, Asela Gunaratne, Niroshan Dickwella, Suranga Lakmal, Nuwan Pradeep, Dushmantha Chameera, Shehan Madushanka, Akila Dananjaya, Lakshan Sandakan and Wanidu Hasaranga
UAE currency: the story behind the money in your pockets
