Connect with us


Retiring early still an unreachable prospect for many in UAE, poll finds

Retiring early remains out of reach for many residents in the United Arab Emirates, a new poll has found, highlighting the need for financial preparation and professional advice on the matter.

Friends Provident International (FPI) surveyed 1,000 individuals based in the UAE and found that 44 percent of the respondents expected to retire by the time they were 55 years old and that 63 percent of them before they reached the age of 60.

For the latest headlines, follow our Google News channel online or via the app.

FPI also found that almost half of the respondents (45 percent) have not started saving for retirement yet and that 11 percent declined to respond on the matter.

“There appears to be a strong disconnect between the aspirations of many individuals in this survey in the UAE to retire early and the reality of how much they will need to save for retirement,” Stuart Shilcock, Head of Sales (Middle East) at FPI, said.

Over half (53 percent) of the respondents who did have some savings set aside for their retirement said that these were in the form of general bank deposits. Nearly 40 percent said that they did not feel the need to plan far ahead for their retirement, saying that they would start saving within 10 years before they reach retirement.

“It is essential for everyone to prepare early when thinking about retirement,” explained Shilcock, adding that there was compelling evidence that showed anyone who plans on retiring early will need to save more – and earlier – in their career.

Over a quarter (27 percent) believed that they could retire on less than $2,500 a month, while a similar percentage of people said that $5,000 would be sufficient. Another 15 percent acknowledged that they did not know or were unsure of the amount required to retire.

Shilcock added that younger people who took part in the survey had more realistic retirement expectations. More respondents in the 18 to 24-year-old age group said they would start saving between 15 and 20 years or 20 and 25 years before they reach retirement.

Read more:

Dubai-based experts debunk ADHD, Autism myths and misconceptions

Rare 8,400 carat rough ruby lands in Dubai for auction, estimated at $120 million

Dubai’s most expensive mega mansion sells for $76 million

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.


US: Bodies of two of three missing kids found in Minnesota lake

The bodies of two young children have been recovered from a Minnesota lake, and searchers are still looking for a third they fear may have been intentionally drowned.

Meanwhile, the father of the children died at a different location hours earlier, and their mother is missing. Names have not been released.

For the latest headlines, follow our Google News channel online or via the app.

The chain of events began Friday morning when the father was found dead at a mobile home park in the town of Maplewood, near Minneapolis. Police determined that the woman had left with the children, and a search began.

Maplewood Police Lt. Joe Steiner said the woman’s car was found near Vadnais Lake around 4 p.m. Friday. The shoes of the children were found on the shore.

A search of the lake found one child’s body Friday evening. A second body was found overnight. Searchers from several organizations were busy Saturday looking for the third, as well as the mother.

Authorities believe all three children were under the age of 5.

“There’s nothing more tragic than the loss of young children,” Ramsey County Sheriff Bob Fletcher said at a news conference on Friday. He called the deaths a “likely triple homicide.”

Read more:

Foreign firefighters arrive in Greece for summer wildfire season

Four tied bodies found in intentionally burned-out helicopter in Mexico

Astronaut study reveals effects of space travel on human bones

Continue Reading


Foreign firefighters arrive in Greece for summer wildfire season

Several dozen Romanian and Bulgarian firefighters took up their posts in Greece on Saturday, the first members of a European force being deployed to the country to provide backup in case of major wildfires during the summer.

More than 200 firefighters and equipment from Bulgaria, France, Germany, Romania, Norway and Finland will be on standby during the hottest months of July and August in Greece, where a spate of wildfires caused devastation last summer.

For all the latest headlines follow our Google News channel online or via the app.

A group of 28 Romanian firefighters with eight vehicles, and 16 firefighters from Bulgaria with four vehicles, were the first to arrive for the two-month mission, financed and coordinated under the European Union’s civil protection mechanism.

“We thank you very much for coming to help us during a difficult summer for our country, and for proving that European solidarity is not just theoretical, it’s real,” Greek Civil Protection Minister Christos Stylianides said on Saturday as he welcomed the members of the Romanian mission in Athens.

“When things get tough, you will be side by side with our Greek firefighters so we can save lives and property.”

The Bulgarian firefighters have been stationed in Larissa, in central Greece.

Last summer’s wildfires ravaged about 300,000 acres (121,000 hectares) of forest and bushland in different parts of Greece as the country experienced its worst heatwave in 30 years.

Following sharp criticism of its response to the fires, the Greek government set up a new civil protection ministry and promised to boost firefighting capacities.

In Greece’s worst wildfire disaster, 102 people were killed when a blaze tore through the seaside town of Mati and nearby areas close to Athens during the summer of 2018.

Read more:

Iranian-flagged tanker in Greece tugged to Piraeus port

Erdogan says no meeting until Greek PM ‘pulls himself together’: Report

Greece formalizes request for US-made F-35 fighter jets: PM Mitsotakis

Continue Reading


One killed, six injured in shootout between migrant groups in Serbia

One migrant was killed and at least six others, including a teenage girl, were injured Saturday in a shootout between migrant groups in Serbia near the Hungarian border, the state-run RTS television reported.

The 16-year-old girl sustained life threatening injuries in the incident that occurred in a forest in the outskirts of Subotica, some 160 kilometers (100 miles) north of Belgrade, where the injured were hospitalized, RTS reported.

For all the latest headlines follow our Google News channel online or via the app.

Police, who made no immediate comment, blocked access to the forest where the incident took place, only around a kilometer from the Hungarian border.

Interior Minister Aleksandar Vulin rushed to the scene.

The injured, aged between 20 and 30, have no documents, Subotica mayor Stevan Bakic told local media.

It is not known what triggered the incident, he added.

Local media reported that the shootout occurred between Afghan and Pakistani migrants most likely over human trafficking from the area to European Union member Hungary.

Serbia lies on the so-called Balkans route used by migrants heading towards Western Europe as they flee war and poverty in the Middle East, Asia and Africa.

Although the route is nowhere as busy as it was during Europe’s migrant crisis in 2015, tens of thousands of illegal migrants still cross the region annually.

Read more:

Three countries ban Russia’s Lavrov flight to Serbia, visit cancelled: Interfax

Kosovo cafe bans Europeans over visa ‘humiliation’

Continue Reading