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'My goal is to build a legacy': How living in UAE changed this expat's relationship with money

Anna Morgenstern shares how the country has given her the space to grow, reinvent herself, and build new ventures that align with her aspirations

Published: Thu 23 Jan 2025, 6:51 PM

  • By
  • Melanie Swan

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Anna Morgenstern, the CEO of The Space Events & Sports, is a Polish entrepreneur and philanthropist who has had a colourful professional life. At 53, she calls Dubai home, after moving to the Emirate more than six years ago. She says Dubai is a place where ambition, innovation and resilience thrive, and these values have been pivotal in shaping her life both professionally and personally, giving her the space to grow, reinvent herself, and build new ventures that align with her aspirations.

If you had to use one word to describe money, what would it be?

Tool. Money is a means to create opportunities, drive impact and build a future — not just for oneself but for the community.

How would you describe your relationship with money?

It’s a relationship of respect and discipline. I view money as a resource to be managed wisely, invested purposefully and shared generously. It enables freedom and growth but requires conscious stewardship.

How do you think this relationship was formed?

My relationship with money was shaped early in life. I grew up seeing my parents manage resources with care and purpose, which instilled values of discipline and responsibility. Later, my entrepreneurial journey taught me about the volatility of success and the importance of financial resilience.

What money management lessons did you learn from your mother?

From my mother, I learned the value of consistency and intention — to save diligently and spend meaningfully. She taught me that small, deliberate steps create a solid foundation for a secure future, no matter how modest the beginning.

Who do you speak to about money matters and is it something you consider ‘taboo’?

I speak with trusted financial advisors, mentors and a close circle of confidants. To me, discussing money is not taboo; it’s essential for making informed and confident decisions. Open conversations lead to clarity and empowerment.

Who has taught you the most about financial management?

Life itself. Being an entrepreneur means navigating uncertainty, making hard decisions and learning through experience. Both my successes and failures have been my greatest teachers in financial management.

What do you think has been the most profound experience you’ve had so far in relation to money, good or bad, and what has it taught you since?

Launching my first business was both a risk and a turning point. I invested nearly everything I had and faced moments of doubt and fear. Its eventual success taught me the importance of calculated risks, unwavering belief in oneself and the patience to let hard work bear fruit.

How do you think living in the UAE has changed your relationship with money?

Living in the UAE has expanded my horizons. Dubai celebrates ambition, hard work and achievement, while also teaching the importance of vision and legacy. Wealth here isn’t just about accumulation — it’s about creating impact and leaving something meaningful behind.

If you could give your child or your younger self one piece of advice about money now, what would that be and why?

Start early and think long-term. Use money as a tool to build the life you envision, not as a measure of success. Make it work for you through smart investments and never let it control you.

What is your long-term goal or dream which is pegged to your finances?

My goal is to build a legacy — one that blends entrepreneurial success with meaningful social impact. I aspire to expand my ventures while empowering communities and supporting causes that drive change.

How much do you save each month?

I adhere to a disciplined approach, saving a consistent percentage of my income every month. It’s a non-negotiable habit that ensures I stay focused on both short-term needs and long-term aspirations.

How much do you plan to have by the time you are 65?

Rather than aiming for a specific number, my focus is on financial freedom. I want to live a life of comfort, security and purpose — free to pursue passions, support loved ones and give back without constraints.

What is your greatest financial decision?

Founding my tax advisory firm was a pivotal decision. It required courage, conviction and risk, but it became a cornerstone of my success. It reinforced the power of vision, hard work and resilience.

wknd@khaleejtimes.com



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