My Dubai Salary: 'I pay myself what I need for living – around Dh50,000 a month'

Ilia Sheludiakov, a Russian entrepreneur, moved to Dubai five years ago, driven by the belief that the city offered more opportunity than any place he had worked before. Currently, he operates a family estate agency business and invests in real estate, while also growing a media presence. He emphasises the importance of passive income as a means to achieve financial independence.

Sheludiakov's first job was as a marketing specialist in Moscow, where he earned around $700 a month. He then worked in sales and trading, where he gained experience in investment analysis. In Dubai, he switched his focus to real estate, a field he found to be all about selling properties.

His personal monthly expenditure is around Dh50,000, which provides him with enough for daily necessities. He invests in a mix of conservative assets, such as ETFs and shares, along with real estate. He also aims to diversify his investments to maximize returns.

Sheludiakov does have some debt, but he sees it as an opportunity to generate more money, rather than a burden to be avoided. He grew up without formal financial education, relying on his family's business background for financial management lessons. Now, he aims to achieve financial independence through passive income-generating investments and businesses.