As the summer holidays approach, have you started thinking about how to protect your hard-earned money while travelling abroad?
There are numerous hazards to be aware of – from pickpockets to sophisticated bait and switch scams and online fraudsters, to name a few.
But there are ways that you can protect your finances before and during your holiday, such as being prepared and having a plan B in place in case your financial security is compromised.
Host Felicity Glover is joined by Carol Glynn, the founder of Conscious Finance Coaching, who discusses her best tips on how to keep our money safe while travelling.
Hosted by Felicity Glover
Produced by Arthur Eddyson and Doaa Farid
Listen to last month's episode on how finance professionals manage their own money:
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
Tuesday's fixtures
Kyrgyzstan v Qatar, 5.45pm
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
UAE currency: the story behind the money in your pockets
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