Will my UAE gratuity cover retirement expenses in my home country?

Will my UAE gratuity cover retirement expenses in my home country?

Residents can check out savings schemes offered by governments in various countries

By Dhaval Jasani/Money Matters Published: Tue 21 Feb 2023, 1:06 AM

What are the best savings schemes in the UAE? Should I invest in stocks here? Is it better to invest in mutual funds and FDs in my home country than here with higher interest rates? I am 34 years of age and arrived in the UAE last year.

Considering your age, we assume that you would continue to work for at least another 20 years in your occupation, be it the UAE or outside the UAE, which provides you with a longer window for accumulating your savings.

Whilst the UAE offers several savings schemes from bonds to life insurance, you may wish to compare savings schemes available in the UAE and your home country and choose the one that offers better returns with reduced risk.

In terms of your personal portfolio, a combination of savings schemes, bonds, mutual funds, fixed deposits placed with a bank, insurance plan for life or a pension plan for your retirement may be ideal, considering your age bracket and longevity from now till you attain the retirement age.

Investment in stock markets is always subject to market risk