Dr Katrin Jahn, founder and head vet at Abu Dhabi’s German Veterinary Clinic, wishes she had given herself small treats when she was younger for achieving life and career milestones. The Abu Dhabi resident recently gifted herself a Porsche Macan for completing 18 years of being an entrepreneur.
As well as being a veterinary surgeon, 51-year-old German national Dr Jahn is an animal psychiatrist. Having founded the German Veterinary Clinic in 2008, she recently became a double board-certified specialist in veterinary behaviour medicine. This involves the treatment of pets who have mental and emotional disorders.
She also owns Trinity Veterinary Behaviour, a global online platform designed to educate pet owners, vets and other pet care professionals on all elements of animal behaviour.
Born in Germany, she moved to London at the age of four. Dr Jahn later returned to Germany to study for her veterinary degree in Munich. After university, she worked in the UK for a few years and moved to the UAE in 2006.
Dr Jahn currently lives in Golf Gardens, Abu Dhabi, with her husband and two fur babies. The couple recently purchased a four-bedroom villa on Al Jubail Island, Abu Dhabi.
Did wealth feature in your childhood?
My parents came from ordinary backgrounds and my dad was a role model in that he worked his way up in his career without many qualifications. He was a self-made man. He worked for Mercedes Benz. In terms of wealth, my parents taught me the importance of being self-made. I've always felt strongly about creating my own wealth and legacy.
How did you first earn?
I asked my parents if I could do a paper round at the age of 10. There was a newspaper shop in our community and the owner allowed me to do a paper round, which was supervised by my parents. I was paid a couple of pounds for it.
Very early on, I was keen to earn money, and as I went through my teenage years, I worked a number of different jobs in shops. Even when I was at university, I always had part-time jobs that helped me to earn extra money. My parents supported me through university, but I always worked. I can't remember a time where I didn't work.
Any early financial jolts?
I was very lucky in that I didn't have any student loans. Obviously, my biggest investment was when I opened my clinic. That was a big financial risk. I carried that all on my own. But I had a couple of financial guardian angels who popped up at the time.
But I’ve never had any setbacks because I did not take on debt to create wealth. I didn't walk into a fully set up clinic. I opened the clinic with what I had and then waited to earn money before I could reinvest it. That's how I built my business over 18 years.
How do you grow your wealth?
I had a couple of property investments in Germany, which I sold to buy the Al Jubail Island property. I have two businesses, which are investments as long as they're managed well.
I have a couple of investment funds in Germany, and a few independent pension funds as well.
Are you a spender or a saver?
I'm more of a saver but I spend on things that have value to me. So, I spend on travel and experiences with my family. I recently bought a new car, a Porsche, that was a reward to myself for passing my exams last year.
Have you been wise with money?
Yes. I think I'm very considerate when it comes to money. That doesn't mean I won't splurge on things like a new car. But I will only spend on things that I know I can afford, that are within my pocket money fund. I would never take money out of an investment for something frivolous or a pleasure like that.
What has been your best investment?
I'm hoping it's going to be the property on Al Jubail Island that's already proving to have been a sound investment because it was bought off-plan for Dh5.8 million ($1.58 million) and has already appreciated by around 30 per cent.
Also, I also think investing in myself has been a big investment, in terms of my education, personal development, growth and mentors. I think investment in oneself is not something to be overlooked.
Any cherished purchases?
Currently, it’s my Porsche Macan. I have a few items of jewellery, but I they're hand-me-downs.
I will only spend on things that I know I can afford, that are within my pocket money fund
Dr Katrin Jahn,
founder and head vet, German Veterinary Clinic
Any financial advice for your younger self?
I’ve never felt the lack of money or been afraid of it. I would tell my younger self to occasionally treat myself to things that bring joy, more because I felt the happiness that my new car bought me. It is materialistic, but it represents more. It represents 18 years of working hard and taking the risks as an entrepreneur and building and managing a business. It is not easy to do.
But on the whole, I appreciate the mindset I've been able to develop around money.
Any key financial milestones?
Purchasing the Al Jubail Island property was a big milestone. I've been in the UAE for almost 20 years and it was only in the last couple of years that we decided to invest in property here. Before that, we had rented for a long period of time because as an expat, you're never sure when you might be leaving. But there was a moment where we made a commitment to the UAE and decided that this was going to be our home for at least the next five or 10 years. So, that was a big milestone, both financially and emotionally.
There have been various milestones throughout running my business. The first time we turned over Dh1 million a month was a massive milestone.
What luxuries are important to you?
The luxury of travelling comfortably. Since my sister was a captain at Emirates airline, I got used to being able to travel business class. When she quit the job, I decided that if I'm able to afford it, I'm going to treat myself to the luxury of comfortable travel. As you get older, you start to value it more. You learn to value the convenience and quality of rest that you get on flights, especially on a long-haul route.
Also, I want the luxury of being able to afford holiday experiences such as diving and going on a safari … things that create memories, but that come at a cost. Those luxuries are important to me.
What are your financial goals?
To be financially free, although I have already attained it. I want to allow financial circumstances or my wealth to create more freedom in my life. When you own a business for a long time, you're a slave to achieving targets and making sure you can pay your team at the end of each month.
Having a feeling that there is abundance, which doesn't need to look like a big amount, and the freedom that comes with it; being able to release the pressure of responsibility − especially for my team − by being a bit more financially free. That would be my goal.
UAE currency: the story behind the money in your pockets
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THE BIO
BIO:
Born in RAK on December 9, 1983
Lives in Abu Dhabi with her family
She graduated from Emirates University in 2007 with a BA in architectural engineering
Her motto in life is her grandmother’s saying “That who created you will not have you get lost”
Her ambition is to spread UAE’s culture of love and acceptance through serving coffee, the country’s traditional coffee in particular.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).
The biog
Date of birth: 27 May, 1995
Place of birth: Dubai, UAE
Status: Single
School: Al Ittihad private school in Al Mamzar
University: University of Sharjah
Degree: Renewable and Sustainable Energy
Hobby: I enjoy travelling a lot, not just for fun, but I like to cross things off my bucket list and the map and do something there like a 'green project'.
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
UAE currency: the story behind the money in your pockets
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UAE-Russia ties stretch back 48 years
Trade between the UAE and Russia reached Dh12.5 bn in 2018
More than 3,000 Russian companies are registered in the UAE
Around 40,000 Russians live in the UAE
The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023
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Founder/CEO: Fodhil Benturquia
Based: Dubai, UAE
Sector: Healthcare
Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth
Funding stage: Series B fundraising round to conclude in February
Investors: Undisclosed
Mohammed bin Zayed Majlis
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
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All games 6pm UAE on Sunday:
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Everton v Bournemouth
Leicester v Man United
Man City v Norwich
Newcastle v Liverpool
Southampton v Sheffield United
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New process leads to panic among jobseekers
As a UAE-based travel agent who processes tourist visas from the Philippines, Jennifer Pacia Gado is fielding a lot of calls from concerned travellers just now. And they are all asking the same question.
“My clients are mostly Filipinos, and they [all want to know] about good conduct certificates,” says the 34-year-old Filipina, who has lived in the UAE for five years.
Ms Gado contacted the Philippines Embassy to get more information on the certificate so she can share it with her clients. She says many are worried about the process and associated costs – which could be as high as Dh500 to obtain and attest a good conduct certificate from the Philippines for jobseekers already living in the UAE.
“They are worried about this because when they arrive here without the NBI [National Bureau of Investigation] clearance, it is a hassle because it takes time,” she says.
“They need to go first to the embassy to apply for the application of the NBI clearance. After that they have go to the police station [in the UAE] for the fingerprints. And then they will apply for the special power of attorney so that someone can finish the process in the Philippines. So it is a long process and more expensive if you are doing it from here.”
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
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Roger Federer (x2)
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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
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