Stephen Kishore pivoted from working in the corporate world in 2021 to become a life and leadership coach and also runs a business transformation advisory for organisations.
Mr Kishore, who’s in his 50s, has achieved financial independence and earns a considerable income annually from his investments.
In his corporate career, Mr Kishore, who holds an executive MBA from the Indian Institute of Management, Calcutta, specialised in helping organisations achieve business excellence, manage customer experience and change management. He holds two master’s degrees.
Mr Kishore, who’s lived in the UAE for 17 years, is from the town of Coonoor in the southern Indian state of Tamil Nadu and was working in Chennai before moving to Dubai.
He lives in Dubai with his wife, who is a fitness instructor and a nutritionist.
What was your first job and salary?
My first job was as a management trainee with a non-banking financial company in Chennai and the salary was quite meagre. From there, I moved into the telecom sector in 1997. I was around 26 years old then.
I worked with telco company Airtel for eight years and then moved to the UAE and worked with a boutique consulting firm. I later worked for a bank for eight years and then moved to Dubai Multi Commodities Centre and worked there for another eight years.
Why did you decide to transition to entrepreneurship?
I had always been developing strategies for organisations, so I wondered whether I could develop a personal strategy. In 2012, I developed my first personal strategy of what my strategic goals are and how to achieve them. That set the framework for where I am today.
In 2016, I lost my parents and that completely changed the purpose of life. The Covid-19 pandemic in 2020 also brought a lot of changes.
Two books primarily helped me to choose my path. One is The 4-Hour Workweek by Tim Ferriss and the other one is Atomic Habits by James Clear.
Tim Ferriss defined the new rich well. He said the new rich want to make just enough money to live their defined dreams (not make money for money’s sake), distribute mini retirements throughout their lives, instead of all at the end, and only work on things they are excited about.
In his book, James Clear says real wealth is not about money, it’s not having to go to meetings, not being locked into status games and not worrying about others claiming your time and energy. Instead, real wealth is about freedom.
I also like the book, The Psychology of Money by Morgan Housel, which says the biggest value of money isn't to buy luxury goods, but to gain control over your time and life – the ultimate form of freedom. So, these are my priorities.
My wife and I love travelling. We like to enjoy small things in life rather than run behind money. Because I developed a personal strategy in 2012, I slowly started working on achieving my financial freedom.
By 2020, I also enrolled into a life and leadership coaching programme. It completely transformed me. I now look at life through intuition and believe in the power of manifestation.
How much do you currently earn?
I have set my investments and they earn me an average of around Dh1.7 million ($462,900) to Dh2 million a year. Apart from that, I make money out of my business transformation advisory and coaching business.
About 55 per cent of my earnings come from income-generating funds and exchange-traded funds.
These are global market funds operated by investment managers which give me a consistent monthly income and an annual 9 per cent to 10 per cent return. I don't go for funds which give me more than 10 per cent to 12 per cent because I want to take calculated risk only.
One needs to select two to three funds, which have consistently proven to give returns, and invest in them through a systematic investment plan or dollar cost averaging. Every month, you put in a certain amount of money and invest for a long period of time. If someone is not willing to have a five-year investment horizon, they should not be investing in the stock market.
I strongly believe fund management company Vanguard and majority of my funds are with them. I invest in one of their ETFs called VOO. The other funds I invest in are SPY, QQQ and IWM.
I also keep a significant amount of money in my emergency fund in the iSave account with First Abu Dhabi Bank because it offers a 5.25 per cent interest rate.
Apart from that, I invest in real estate as well as in blue chip stocks from the US and India. I invest in them for the long term and ignore short-term market fluctuations.
I have seen three financial downturns: the 2000 dotcom bubble, 2008 global financial crisis and pandemic in 2020. In all the scenarios, my investment portfolio went down by 25 per cent. But I did not take out money from these stocks and they have come back.
My funds in India are managed by professional fund management companies.
I also earn money by trading in options, but that’s a small part of my portfolio.
You need to establish an income funnel, which constantly gives you the income to run your life. I believe that my income should be a minimum of four times of my total expenditure.
How do you earn money from property?
I earn income from property in three ways. I get rental income from Dubai and India, and also generate it by investing in real estate investment trusts in the US.
Do you have any debt?
I have good debts. Bad debt is taking too much risk without having the ability to repay it or borrowing to support your ongoing living expenses.
Good debt has the potential to increase the underlying asset value, expand your potential income and help accomplish your objective.
For instance, buying a property on a loan is a good debt, while a credit card loan is bad debt.
I’d also like to highlight that people take insurance very lightly here. They take medical insurance because it is compulsory, but critical illness insurance and life insurance are very important, too, but overlooked. If you own a property, you need to take property insurance.
Have you ever inherited a sum of money?
I inherited a property from my father. I sold it when it appreciated in value and reinvested the money into a different property.
In the past, my investment was into employee stock options in India. When the stocks appreciated in value, a lot of people sold it off, but I did not and used it as a base to take a loan. I slowly built on this and it helped me to eventually pay off the loan.
Growing up, were you taught how to handle your finances?
My mother, who was very intuitive, taught me two things. She used to tell me that I can enjoy life but always need to have a healthy bank balance. If I didn’t, I was either not earning enough, not saving well or spending more. I always kept a good bank balance and never had to borrow money. This helped me to live life within my means.
My father was very good at mathematics and logical thinking. I learnt mental computing, rational validation and organisation of information and thoughts from him. That helped me to look at investment decisions rationally and plan my finances with discipline.
What are your major monthly expenses?
On rent and travel (during the months we take a holiday).
How do you budget your salary every month?
I don't budget because I believe in living in abundance. I don't create any hard limits but have soft limits.
I review our expenses every six months to check whether we need to reduce it or not. But the discipline is built in, so we don't spend on unnecessary things, while also enjoying life.
At what age do you wish to retire?
I don’t believe in the concept of retirement. I have achieved financial freedom.
You should not let your money sit idle in the bank because you can earn a higher interest rate now
Stephen Kishore,
life and leadership coach
Do you have an emergency fund?
Yes, it should ideally sustain you for a minimum six months. But mine can sustain me for one year’s worth of expenses.
What do you spend your disposable income on?
Primarily on travel, our education and experiences with friends and family.
Do you worry about money?
I don't. I believe in abundance and manifestation. Being in the coaching industry, I’ve seen a lot of people have negative connotations towards money, which stops them from achieving financial abundance and financial freedom.
What are your best money saving hacks to offset inflation?
You should not let your money sit idle in the bank because you can earn a higher interest rate now. You should put your money in high-yield saving accounts to offset against inflation.
You should also adopt the dollar cost averaging method of constantly investing your savings to ride out the short-term market dips.
What is your idea of financial freedom?
It’s the power to produce wealth. By that, I mean producing an automated, consistent income. That’s financial freedom.
The UAE plays a big role for those aspiring to achieve financial freedom. The able leadership, potential for good rental income generation, a stable currency, opportunities and saving prospects enable people to achieve financial freedom in the country.
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
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
The biog
Title: General Practitioner with a speciality in cardiology
Previous jobs: Worked in well-known hospitals Jaslok and Breach Candy in Mumbai, India
Education: Medical degree from the Government Medical College in Nagpur
How it all began: opened his first clinic in Ajman in 1993
Family: a 90-year-old mother, wife and two daughters
Remembers a time when medicines from India were purchased per kilo
MATCH INFO
Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)
Arsenal win 5-4 on penalties
Man of the Match: Ainsley Maitland-Niles (Arsenal)
Votes
Total votes: 1.8 million
Ashraf Ghani: 923,592 votes
Abdullah Abdullah: 720,841 votes
'Avengers: Infinity War'
Dir: The Russo Brothers
Starring: Chris Evans, Chris Pratt, Tom Holland, Robert Downey Junior, Scarlett Johansson, Elizabeth Olsen
Four stars
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
DUBAI%20BLING%3A%20EPISODE%201
%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3ENetflix%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EKris%20Fade%2C%20Ebraheem%20Al%20Samadi%2C%20Zeina%20Khoury%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20HyveGeo%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Abdulaziz%20bin%20Redha%2C%20Dr%20Samsurin%20Welch%2C%20Eva%20Morales%20and%20Dr%20Harjit%20Singh%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ECambridge%20and%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ESustainability%20%26amp%3B%20Environment%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%24200%2C000%20plus%20undisclosed%20grant%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVenture%20capital%20and%20government%3C%2Fp%3E%0A
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
Building boom turning to bust as Turkey's economy slows
Deep in a provincial region of northwestern Turkey, it looks like a mirage - hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle.
Meant to provide luxurious accommodations for foreign buyers, the houses are however standing empty in what is anything but a fairytale for their investors.
The ambitious development has been hit by regional turmoil as well as the slump in the Turkish construction industry - a key sector - as the country's economy heads towards what could be a hard landing in an intensifying downturn.
After a long period of solid growth, Turkey's economy contracted 1.1 per cent in the third quarter, and many economists expect it will enter into recession this year.
The country has been hit by high inflation and a currency crisis in August. The lira lost 28 per cent of its value against the dollar in 2018 and markets are still unconvinced by the readiness of the government under President Recep Tayyip Erdogan to tackle underlying economic issues.
The villas close to the town centre of Mudurnu in the Bolu region are intended to resemble European architecture and are part of the Sarot Group's Burj Al Babas project.
But the development of 732 villas and a shopping centre - which began in 2014 - is now in limbo as Sarot Group has sought bankruptcy protection.
It is one of hundreds of Turkish companies that have done so as they seek cover from creditors and to restructure their debts.
Mohammed bin Zayed Majlis
Brief scoreline:
Toss: South Africa, elected to bowl first
England (311-8): Stokes 89, Morgan 57, Roy 54, Root 51; Ngidi 3-66
South Africa (207): De Kock 68, Van der Dussen 50; Archer 3-27, Stokes 2-12
More from Rashmee Roshan Lall
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
UAE currency: the story behind the money in your pockets
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
UAE currency: the story behind the money in your pockets
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%204-cylinder%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20101hp%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20135Nm%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%20Six-speed%20auto%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh79%2C900%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
The Equaliser 2
Director Antoine Fuqua
Starring: Denzel Washington, Bill Pullman, Melissa Leo, Ashton Sanders
Three stars
Other must-tries
Tomato and walnut salad
A lesson in simple, seasonal eating. Wedges of tomato, chunks of cucumber, thinly sliced red onion, coriander or parsley leaves, and perhaps some fresh dill are drizzled with a crushed walnut and garlic dressing. Do consider yourself warned: if you eat this salad in Georgia during the summer months, the tomatoes will be so ripe and flavourful that every tomato you eat from that day forth will taste lacklustre in comparison.
Badrijani nigvzit
A delicious vegetarian snack or starter. It consists of thinly sliced, fried then cooled aubergine smothered with a thick and creamy walnut sauce and folded or rolled. Take note, even though it seems like you should be able to pick these morsels up with your hands, they’re not as durable as they look. A knife and fork is the way to go.
Pkhali
This healthy little dish (a nice antidote to the khachapuri) is usually made with steamed then chopped cabbage, spinach, beetroot or green beans, combined with walnuts, garlic and herbs to make a vegetable pâté or paste. The mix is then often formed into rounds, chilled in the fridge and topped with pomegranate seeds before being served.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Company%20profile
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TYPES%20OF%20ONLINE%20GIG%20WORK
%3Cp%3E%3Cstrong%3EDesign%2C%20multimedia%20and%20creative%20work%3A%20%3C%2Fstrong%3ELogo%20design%2C%20website%20design%2C%20visualisations%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBusiness%20and%20professional%20management%3A%20%3C%2Fstrong%3ELegal%20or%20management%20consulting%2C%20architecture%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBusiness%20and%20professional%20support%3A%20%3C%2Fstrong%3EResearch%20support%2C%20proofreading%2C%20bookkeeping%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESales%20and%20marketing%20support%3A%20%3C%2Fstrong%3ESearch%20engine%20optimisation%2C%20social%20media%20marketing%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EData%20entry%2C%20administrative%2C%20and%20clerical%3A%20%3C%2Fstrong%3EData%20entry%20tasks%2C%20virtual%20assistants%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIT%2C%20software%20development%20and%20tech%3A%20%3C%2Fstrong%3EData%20analyst%2C%20back-end%20or%20front-end%20developers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EWriting%20and%20translation%3A%20%3C%2Fstrong%3EContent%20writing%2C%20ghost%20writing%2C%20translation%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EOnline%20microtasks%3A%20%3C%2Fstrong%3EImage%20tagging%2C%20surveys%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20World%20Bank%3C%2Fem%3E%3C%2Fp%3E%0A
UJDA CHAMAN
Produced: Panorama Studios International
Directed: Abhishek Pathak
Cast: Sunny Singh, Maanvi Gagroo, Grusha Kapoor, Saurabh Shukla
Rating: 3.5 /5 stars
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
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
THE POPE'S ITINERARY
Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial
Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport
Killing of Qassem Suleimani
