How to invest money wisely and get rich in Dubai

Maybe you have saved money and you do not know what to do with it. The truth is that there are many ways to invest your money wisely and without too much risk. If you want to earn extra income, just keep this article in mind as we will give you some very easy tips to follow and show you the safest ways to invest your money.

how to invest your money wisely in the UAE

1. Buy real estate to rent

The first way to invest is to buy real estate in Dubai such as a house, a garage, business premises or land, with the aim of selling or renting them at a higher price and earning a fixed income.

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It is one of the safest and most profitable assets with the lowest risk, as it is difficult for properties to lose value over the years. In addition, it does not require much knowledge of the real estate market, but to find out whether the area in which you want to buy the property in Dubai is in great demand or not.

The only downside that this investment option can represent is that a large amount of capital is needed to purchase a property in the UAE.

Also buying vehicles today can be considered as a profitable investment, if you intend to rent them out to third parties or to offer travel trips like BlaBlacar company. However, you should buy your car in car dealerships with experience, so your investment be risk free.

Read also: 9 things to consider when buying a house in the UAE

2. Reflect on investing money in Gold

how to invest your money wisely in gold investment in the uae

Buying gold to sell it at a higher price and earn profits is one of the oldest ways to make money.

Gold can be purchased in two ways:

Direct: gold coins or gold bars, so buy physical gold.

Indirect: certificates of gold deposits, investments in funds specializing in gold, shares of mining companies.

Read also: Dubai will remain the city of gold, despite the new 5% VAT

This type of investment is a good long-term option due to the growth trends in demand for gold and the ease with which it is acquired. Therefore, it can be considered as a very safe investment, as the value of gold can not be easily devalued, as it is not regulated by a government, but depends on the supply and demand of the market.

Another advantage is that you can sell it at any time without intermediaries.

3. Select fixed-term deposits

This type of option is one of the easiest and safest for those who are interested in investing their money.

Time deposits are accounts managed by financial institutions that provide some return to keep the money for a minimum of months. This means that the interest will be payable to the financial institution at the time of the agreement after the agreed period.

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Excellent Tips by an American business magnate Warren Buffet:

warren-buffett-the-business-leader-in-the-world

  • On Earning: “Never depend on single income. Make investment to create
    a second source”.
  • On Spending: “If you buy things you don’t need, soon you’ll have to sell
    things you need”.
  • On Savings: “Don’t save what is left after spending, but spend what’s left
    after saving”.
  • On taking risk: “Never test the depth of river with both feet”.
  • On Investment: “Don’t put all eggs in one basket.
  • On Expectations: “Honesty is very expensive gift. Don’t expect it
    from cheap people”.

Conclusion

In addition to these three ways of investing money intelligently, there are other ways of crowdfunding in the UAE or the stock market. It is important that we compare the characteristics of others to choose the one that suits us best.

Once we begin to see the profits of our investment, it is best to diversify and invest in other options. Because if we all invest our profits in the same place, we expose ourselves to a greater bankruptcy risk.

The following posts might also interest you:

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We hope you found this article interesting and beneficial from our recommendations.

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