Hi 🐠 experts, any advice for an A working for BCG in Dubai? What is the best way to save/invest your money? No taxes mean nice savings but no pension, I’m a bit worried about the future!

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If you want to do it yourself open an interactive brokers account or saxobank account - they’re both great (I have a preference for IB) then you can do anything you want and apply all the great advice on this thread.
IB also gives you interest On cash, not great interest but 10x better than anything you can get in Dubai. And cash up to $60k is not taxed if you’re not a US citizen.

If you’re just starting out and don’t want the hassle try Sarwa (sarwa.co) it’s a robo advisor that just started, they have a great team, lowish fees, and your portfolio is held with IB as the custodian. So if for any reason you leave Dubai or sarwa fails your portfolio is intact under your name and with interactive brokers.

Whatever you do don’t go to the local banks or local wealth managers, they’re not there to serve you - unless you’re a Russian oligarch, Persian millionaire, etc etc

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Also doesn’t bcg have a pension plan? That’s weird. If there’s no official one for the Dubai office, then they’re bound to follow the UAE labor law which means when if/ when you leave your employer you’ll get paid an end of service gratuity which corresponds to a month’s salary for every full year that you worked. Basically BCG is giving you a pension fund that’s equal to 8.3% of your annual pay each year. Reach out to your firm services staff and figure those details out.

Oh wow that is so generous

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