In the dynamic landscape of the UAE, Indian expat Ritika Kothari stands out as a shining example of youthful entrepreneurship. At just 35 years old, she embodies the spirit of innovation, having carved out a niche for herself that allows her to thrive in the bustling city of Dubai. With nearly three years under her belt, she has embraced a philosophy where working smart enables financial gains even while she sleeps.
Defining Money in One Word
When asked to encapsulate her views on money, Ritika simply states, “Freedom.” For her, this single word embodies the myriad possibilities that financial resources can provide. It reflects the ability to make choices, pursue passions, and ultimately shape one’s destiny.
A Letter to Money
Ritika views money as a double-edged sword. In a hypothetical letter to money, she writes: “Dear Money, you’ve been a double-edged sword — both a tool for empowerment and a tough teacher. While I’ve had my wins and losses, I’m grateful for what you’ve enabled me to create and experience.” This framing highlights her relationship with finances as one of growth and learning through experience.
Her Journey with Money
Ritika’s relationship with money is layered, shaped by her experiences over the years. Having married young into a well-off family, she was initially introduced to wealth’s comforts but soon found herself in a position of financial independence after her divorce. This transformation led her to view money not just as a resource but, at times, as a source of conflict — a sentiment rooted in her understanding that excess can breed familial strife.
Formative Influences
The evolution of Ritika’s financial mindset was influenced by contrasting views within her family. Her mother, a salaried professional, instilled in her the importance of saving and prioritizing meaningful experiences over material possessions. However, the realities of financial planning emerged through Ritika’s entrepreneurial journey, marked by trials and tribulations that taught her the value of both caution and ambition when it comes to finances.
Learning from Experiences
Ritika considers life itself to be her greatest teacher in financial management. The lessons from losing money in her first startup, coupled with the lack of prior guidance, propelled her into a journey of self-education. At just 26, acquiring significant wealth without the know-how to manage it proved overwhelming, but it ignited a desire to learn and adapt.
Open Conversations about Money
For Ritika, discussing finances isn’t a taboo topic; she finds value in open and constructive conversations about money. She frequently consults trusted advisors, mentors, and peers to navigate her financial landscape. This philosophy extends to her personal life as well, where she emphasizes the need for transparency in discussions about investments and financial obligations before making long-term commitments.
Lessons in Financial Management
Many of the lessons Ritika has learned about managing finances stem from her early experiences and the values instilled by her mother. While she champions saving and meaningful spending, she acknowledges the necessity of balancing these principles with smart investing for future stability.
A Global Perspective in the UAE
Living in Dubai has significantly altered Ritika’s perception of wealth. The city offers a unique context where financial resources are regarded as instruments for innovation and legacy, aligning seamlessly with her entrepreneurial vision. In Dubai, she has found an environment that fosters trust in startups, making it possible for her to achieve financial success even during moments of rest.
Advice to Younger Generations
If given the chance to share advice with her younger self or her child, Ritika would stress the importance of early financial planning. “Learn financial planning early,” she advises. “Don’t just earn — invest, diversify, and build a safety net. Money should work for you, not the other way around.”
Where She Invests Her Wealth
For Ritika, spending money is often tied to enriching experiences. She values travel, fine dining, and moments that elevate her lifestyle. Gifting also brings her joy, reflecting her belief in creating cherished memories through thoughtful actions.
Long-Term Financial Goals
Ritika is keenly aware of the importance of long-term financial planning. She sets clear goals for personal savings, business growth, and building a legacy that will benefit her family in the future. Each financial decision she makes is anchored in these objectives, reflecting her commitment to sustained success and inspirational leadership for her team.
A Vision for the Future
Her long-term aspirations are as purposeful as they are ambitious: to accumulate a few million dollars that will allow her to live a peaceful, fulfilling life, to give back through philanthropic efforts, and to leave a financial safety net for her grandchildren, ensuring they too enjoy the freedom of choice and opportunity.
wknd@khaleejtimes.com
