UAE: Makes its citizens rich like this...

Is your country making you rich?

I've written extensively about what we can do on our own to build wealth over time; have a savings goal, build an emergency fund, stock market investments, a pension and more. Let's change the focus for a moment and imagine you don't have to do 80% of this because your government has programmes to easily help you build wealth. How would that feel?

In this post, I explore the United Arab Emirates (UAE) and the perks given to it 1.4 million Emirati citizens who have an average net worth of $99,000.

Key Lesson

• We should learn more about the policies that govern where we live​ because they make difference to our wallets!

Infographic: What do you get an a citizen of UAE? Plenty!

Healthcare (free). Roof over my head (check). Job (guaranteed), Large pension (check) & more

UAE  is a country known for Dubai, its oil wealth, architectural landmarks, home to millions of expats  and more. Its government has created a financial cushion for its citizens with the focus on giving them a high standard of living. It seems Emirati citizens might have the dream quite a lot of people are after, much akin to lottery winners; you don't have to worry about a job, your old age, your health even your marriage costs! 

Some lessons and next steps

• Explore the benefits that are available to you in your country of citizenship or residence. If you are in the UK, you can start by learning about your tax benefits here.
• For countries where such perks are not available, learn how to convert your income over time to building your own welfare state​.
• If all of this is making you think of moving to the UAE and becoming a citizen, read more here. There are also perks for foreigners like tax free income and100% business ownership.