{"id":482218,"date":"2025-10-08T06:10:27","date_gmt":"2025-10-08T06:10:27","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/482218\/"},"modified":"2025-10-08T06:10:27","modified_gmt":"2025-10-08T06:10:27","slug":"my-dubai-salary-i-saved-70-of-my-dh35000-monthly-income-to-retire-at-33","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/482218\/","title":{"rendered":"My Dubai Salary: \u2018I saved 70% of my Dh35,000 monthly income to retire at 33\u2019"},"content":{"rendered":"

Sebastien Aguilar is a familiar name among personal finance enthusiasts in the UAE. He heads the non-profit community SimplyFI Index Investing and Financial Independence Facebook group<\/a>, which focuses on financial independence, passive investing and personal finance education.<\/p>\n

The Belgian national, 40, lived and worked in the UAE from 2011 until 2018 as a consultant in energy management. He achieved financial independence<\/a> at the age of 33 and lives off the profits from his investments. <\/p>\n

Mr Aguilar saved a six-figure dollar amount to retire early. <\/p>\n

“The amount needed for healthy and happy financial independence is a lot lower than most people imagine. You don’t need millions,” he says.<\/p>\n

“And this is because once you control your finances, you can live happily with modest expenses. And this, combined with a very effective investing strategy like low-cost global index investing, makes it so that you don’t need a very large portfolio.”<\/p>\n

People following the FIRE (Financial Independence, Retire Early) movement usually withdraw up to 4 per cent of their investment portfolio’s value annually without depleting it over a 30-year retirement. This strategy requires aggressive saving and investing to build a large asset base to support passive income, enabling early retirement.<\/p>\n

“Since we stopped earning and started withdrawing from our portfolio in 2018, it has grown in size significantly,” he says. <\/p>\n

“Our financial independence and early retirement plan were designed to sustain the worst market conditions [like the Great Depression of the 1930s]. Since the markets did better than the worst-case scenario, we’re in a better financial position today compared to 2018.”<\/p>\n

Today, Mr Aguilar lives in Belgium, where he and his wife homeschool their children. <\/p>\n

He has a master\u2019s degree in construction engineering from the Catholic University of Louvain in Belgium and a master’s in sustainable energy technologies from Southampton University in the UK.<\/p>\n

What was your first job and salary?<\/b><\/p>\n

I arrived in the UAE in 2011, with an internship at FuGu Energy on a monthly salary of Dh5,000 ($1,361 today) plus accommodation and a car, so [worth] about Dh8,000 in total. <\/p>\n

What do you do now?<\/b><\/p>\n

I am back in Belgium, where I am mostly a dad, homeschooling my two boys with my wife. I am also the chairman of SimplyFI<\/a>, a free Facebook group in the UAE, and I run a similar community in Belgium called Fire Belgium.<\/p>\n

Do you manage to save?<\/b><\/p>\n

Not anymore, as I don’t have an income. But I used to save 70 per cent of my Dh35,000 monthly income in 2016 to 2018 when I was at the peak of my career. <\/p>\n

What asset classes do you invest in?<\/b><\/p>\n

I have a simple portfolio of two exchange-traded funds: one global stock index fund and one global bond index fund. I also have gold<\/a> [and] I am in the withdrawal phase for better portfolio stability. <\/p>\n

Have you bought property anywhere? <\/b><\/p>\n

No, I rent. But my rent and all my expenses are paid by my portfolio. Renting gives me great flexibility. We might buy a house<\/a> in the future.<\/p>\n

Do you have any debt?<\/b><\/p>\n

No. Zero debt.<\/p>\n

Have you ever inherited money?<\/b><\/p>\n

When I was 16, I got some money from my godmother. I used it to pay for part of my studies abroad, in the US and UK.<\/p>\n

Growing up, were you taught to handle your finances?<\/b><\/p>\n

I was only taught to save money. In fact, money has mostly been a taboo topic<\/a> in my family, often cited as the cause of many of the problems in the world. <\/p>\n

It’s only later that I discovered that money and investing have the power to buy back time. <\/p>\n

What are your major monthly expenses?<\/b><\/p>\n

Rent, food and travel. We travel a lot with my family.<\/p>\n

How do you budget every month?<\/b><\/p>\n

I used to track all my expenses from 2011 to 2012. It’s what allowed me to take control of my finances<\/a>. I was very tight on money, so I had no choice. In fact, this is what led me to learn about do-it-yourself index investing<\/a>. It has completely changed my life.<\/p>\n

Do you worry about money?<\/b><\/p>\n

I reached financial independence<\/a> at the age of 33, in 2018. I have mostly solved [my] money problems. But it’s true that sometimes we wonder what our lives would have been if we had continued working and earning high salaries<\/a>. <\/p>\n

Do you have an emergency fund?<\/b><\/p>\n

Yes. I always have easily accessible money for emergencies. <\/p>\n

What are your best money-saving hacks?<\/b><\/p>\n

It’s hard to say. We’ve become quite efficient with how we spend our money. For sure, when I was in the UAE, the biggest hack was to keep a simple, happy life. Happiness doesn’t cost much. Ego costs a lot. So, don’t fall for the expensive ego games (big house, big cars, fancy trips) everyone else is playing. Buy freedom instead.<\/p>\n

What are your financial goals?<\/b><\/p>\n

Right now, I don’t really have any.<\/p>\n

What is your idea of financial freedom?<\/b><\/p>\n

Mostly what I have: the ability to do what I want, when I want and with whom I want. Recently, we went to a farm with my boys and they discovered horseback riding. Right now, I’m sitting in a Moroccan restaurant while my kids are playing with their friends. I don’t have to worry about going to work and getting paid. We’re really blessed.<\/p>\n

How did you achieve it?<\/b><\/p>\n

Everything through a simple portfolio of index ETFs<\/a>, that’s where I invested everything. Today, I live from the profits. And the portfolio keeps growing despite spending a chunk of it every year.<\/p>\n

What are your tips to achieve financial independence?<\/b><\/p>\n

1. Track your expenses for at least three months (also include annual expenses). This helps to have full awareness of personal finance.<\/p>\n

2. Based on that, plug the money holes: cut useless expenses and optimise the rest.<\/p>\n

3. Learn to invest<\/a> in index ETFs. It’s simple, cheap and performs much better than bank funds. Once it’s in place, it takes five minutes per month to manage. <\/p>\n

4. Join a community of like-minded people. In the Middle East, one such group is the SimplyFI Facebook group.<\/p>\n

5. Find ways to increase your income (through employment, side hustles<\/a> or entrepreneurship).<\/p>\n

6. Simplify and automate your finances<\/a> as much as possible.<\/p>\n

7. When your portfolio can cover your living expenses, you’re financially free.<\/p>\n

Any tips for people who started investing late?<\/b><\/p>\n

It’s never too late to start investing<\/a>. My mom is 70 and she recently started. It makes her retirement much more comfortable. So, if you’ve just started, keep going. If you haven’t yet, then learn quickly and start as soon as possible. The earlier the better. And tell your kids and family members.<\/p>\n

Look up information on \u201cindex investing\u201d and \u201cfinancial independence\u201d. Avoid active investing strategies<\/a>. They cost much more time and money. Listen to podcasts and watch YouTube educational videos on index investing. Download the free Getting Started Guide for index investing in the UAE on the SimplyFI.org website or Facebook group. It’s everything we know super-condensed. <\/p>\n

Do you want to be featured in My Salary, a weekly column that explores how people around the world manage their earnings? Write to pf@thenationalnews.com<\/a> to share your story<\/p>\n

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)<\/p>\n

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More coverage from the Future ForumMica<\/p>\n

Director: Ismael Ferroukhi<\/p>\n

Stars: Zakaria Inan, Sabrina Ouazani<\/p>\n

3 stars<\/p>\n

EPL’s youngest<\/p>\n