The Financial Journey of Moossa Alavi: From Humble Beginnings to Business Success
Moossa Alavi’s childhood was marked by financial prudence, instilled in him by his father, who consistently carried around Dh5,000 (approximately $1,361) in his wallet as an emergency fund. This conscious decision to prepare for unexpected situations laid the groundwork for Moossa’s understanding of money management and financial responsibility.
Early Career and First Job
Moossa’s professional journey began in 1997, when he became an executive secretary in Abu Dhabi, earning a modest salary of Dh1,200. He dedicated twelve years to this company, absorbing invaluable lessons about business operations and professional conduct. Transitioning to Dubai, he lent his expertise to help establish an advertising and printing firm, earning a significantly higher salary of Dh25,000 by the time he departed after nearly eight years.
Current Business Ventures
Today, at 47 years old, Moossa runs two successful enterprises: Techbot Information Technology, focusing on digital transformation, and Altamyz Advertising, a manufacturer of digital signage. These ventures have proven fruitful, yielding a combined monthly income of approximately Dh50,000 to Dh55,000, underscoring his impressive growth trajectory in the business landscape.
Financial Management and Savings
Moossa is diligent about saving, setting aside an impressive 60% of his monthly income. Utilizing his earnings, he invests in various asset classes, including stocks, gold, and real estate, while also reinvesting a portion of his earnings back into his businesses. His savings strategy has positioned him to aim for semi-retirement in eight years, hoping to reach a monthly income of Dh100,000 by that time.
Debt Management and Monthly Expenditures
While managing his businesses, Moossa recognizes the necessity of liquidity. He strategically takes loans at low-interest rates when needed, ensuring that his financial obligations are manageable. He uses credit cards for both business and personal expenses, always paying balances in full to enjoy the benefits of rewards programs. His significant monthly expenses include his children’s schooling, household costs, and mortgage payments, totaling around Dh20,000 a month.
Budgeting Approach
Moossa has developed a structured budgeting approach. Spending 40% of his income—approximately Dh20,000—on essential costs allows him to allocate the remaining funds towards savings and investments. His investments are diversified; he commits between 10% and 15% to stocks and about 10% to gold, while reinvesting the bulk back into his businesses.
Investment Strategy
In addition to his business endeavors, Moossa has a keen interest in Shariah-compliant stocks across various sectors, including oil and gas, infrastructure, and healthcare in the UAE and the US. He hasn’t withdrawn from these investments yet, focusing on growth and capital appreciation.
Real Estate Investments
Moossa’s investments also extend to real estate. Two years ago, he purchased a three-bedroom villa in Damac Hills 2 for Dh1.8 million and owns land in Sharjah, which he may develop into a factory or sell for profit. His portfolio also includes properties and land in India, showcasing his strategic investment philosophy.
Retirement Planning
Rather than planning for complete retirement, Moossa envisions a future where his businesses operate autonomously, allowing him to step back from day-to-day involvement by age 55. His retirement income strategy involves monetizing his assets, such as stocks and real estate, to sustain a comfortable lifestyle.
Emergency Fund
Understanding the importance of financial security, Moossa has established an emergency fund that covers six months’ worth of expenses. This fund reflects his father’s early teachings about preparedness and resilience in financial matters.
Lifestyle and Financial Independence
With financial independence already achieved, Moossa dedicates his disposable income to travel and personal development. He appreciates the importance of continuous learning and aims to keep abreast of new technologies, which may further enhance his business ventures.
Legacy and Community Impact
As a self-made professional who learned money management from his father, Moossa aims to provide jobs for the community through future business endeavors. His financial freedom empowers him to pursue initiatives that can give back to society, demonstrating a commitment to uplifting those around him while ensuring his legacy continues.
