The Rich Immigrant

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We did it Joe!  After two years of having it as a goal, I finally opened a 529 college savings account for my unborn child(ren). In this episode, I share my experience breaking down the conversation into the following:

What is a 529 account
Why this account versus other investment vehicles
Why I opened it without having a kid
How im able to open an account pre-kid
What Happens IF I Make more than one kid?
How I actually opened the account
How much do you need to put away to afford college?
What happens if I don't have kids

I havent fugured it all out but I figured it out well enough to start and I always want to share that part.. the journey. Some resources I found are

www.savingforcollege.com 
www.upromise.com

Please share this episode with a parent or aspiring parent in your life

Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'

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Its my birthweek and in this episode of the podcast, I chose to start a new tradition here. I share lessons i've learned or that have been reaffirmed in the past year. Happy Birthday to my fellow virgo/September babies!! 

Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'

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You heard/read that right. I'm still in shock and I don't think it'll sink in that I now live here for a while. In this episode, I talk about:

1. My move from Minneapolis USA to Tokyo, Japan a week ago
2. Why Japan
3. What the move means for this platform
4.  How I'm feeling from when it came up, to leading up to the move, to 5 days in Tokyo
5. How this move feels different from other moves and ways moving abroad will humble you
6. What this move means for my house
7. How I've prepared for this move (financially, emotionally)
8. My hope for this next chapter
9. What I'm most excited about

This immigrant has moved again and this was not at all a move I planned or expected this time last year. Here's to taking steps in faith! Can't wait to see what lies on the other side and can't wait to bring you along. 

Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'

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I'll be honest, this topic has been on my mind since I bought my home a year ago. I'm simply one of those people that aren;t comfortable owning a certain amount of money. I figured I'm not the only one that has these thoughts so lets talk about how to pay off your mortgage faster.. In this episode, we talk about:

• 2 situations where  it might not be the best idea to accelerate paying down a mortgage
• Four ways to pay down a mortgage faster than scheduled
• Pitfalls to avoid when paying down a mortgage faster than scheduled
  • Allocating the extra payment to principal
  • Asking about any prepayment penalties
  • Looking into recasting

Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'

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I'm so excited to finally have this part of my conversation with one of my best friends about money and friendships. 

In this conversation, Kemi and I not only model money conversation, but we tackle insightful aspects of money and friendships. Our conversation covers: 

• Her first financial aha moment
• Graduating from her MBA with student loans and how she started her path to paying them off
• How and why she decided to pay off debt and still invest at the same time
• What a money circle is and her first experience getting into a money circle
• Money circle  vs forums 
• Important traits for a successful money circle
• When to put a legal framework in place before investing with friends
• How she joined of her first formal investment club and the power of investing collectively (stronger purchase power, pooling capital, access to information, access to network)
• Importance of taking action and personal responsibility
• What makes her advance vs. retreat during  money conversations?
• Our experience with investing together - how we did it,  how it went awry, what we learnt from it, and how it impacted our friendship
• How the diaspora can find opportunities to invest at home/on the continent and beyond

Kemi is on Instagram at kemionabanjo! Please let her know if you found this conversation insightful.

Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'

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The podcast is back with Season 8!! I'm kicking off this season by reflecting on some amazing news! I got the biggest promotion of my career, effective July 1, I was admitted into the Partnership at the firm I work for. I've had some time to reflect and also took over 20 questions from you. In this episode, I talk about: 

• My reaction to the promotion
• Whether I always wanted to be a partner from day 1
• My best career strategies that helped me get to where I am
• Staying in one place vs job hopping (my thoughts)
• My greatest lesson on leadership so far
• Am I Nervous about this chapter, and if I am, how i'm handling it
• What I plan to do with my raise
• How to scale your career as someone stuck in a specialist role
• Best advice for mid-level career woman, also an immigrant
• What I wish I had done differently
• My struggles with impostor syndrome and how I overcame it
• Am I happy?
• How I'm fully embracing this new season and fully taking up space
• What I'm most proud of

I would not be here without so many people. My family, my many mentors and sponsors, my friends. This win has been celebrated by so many people, some of whom I've never even met. It is not lost on me that this means so much not only to me but to so many others. Thank you for celebrating this win with so much joy, as though it is yours. It truly is ours. My Scotland crew, my work crew, Winona crew, the Ikorodu crew, my Minneapolis family, My RAOJs, this online community! Tosin and RSD, thank you!!

Thank you, and congrats to us!!

Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'

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We have finally come to the end of the longest season. Even as I look back on the last six months of my life, what a rollercoaster it has been! In this final episode of this season, we talk about

• My half-year recap and I answer 6 listener questions on
• How I got my first promotion at Work
• Navigating professional and career growth abroad
• Paying off student loans vs maxing out retirement
• How long is too long before a promotion or new company
• When to buy a house
• Tips for someone starting their personal finance journey in their 40s

Thank you for coming along for this season of the podcast. I can't wait to bring you the next season, but for now I'm going to take a little break :) to soak in all the things happening in my life and then I will be back. See you in early August!

Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'

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What does it cost to be a bridesmaid in 2023? 

The financial cost of being a bridesmaid is regional, cultural, and situation-specific. However, we can all agree that things seem to have gotten a bit out of hand in recent times. It is a great honour to be asked to stand next to a close friend or family member on one of the most important days of their lives, but it can also get expensive. I love a beautiful wedding but not one that put people in debt. In this week's episode of the podcast, I talk about:

1. Standard costs of being a bridesmaid
2. How I think about some of the costs of being a bridesmaid
3. 6 things brides should think 
4. Reasons to say no, thank you as a potential bridesmaid
5. How to support the bride in other ways
6. What to do when planned bridesmaid expenses get out of hand
7. Why I don't want a bridal party but I probably want a bachelorette/Bridal shower gift

As a retired bridesmaid and future bride, I share personal experiences and would also love to read from you on your experiences. Happy wedding season. 

Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'

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It's very obvious that life insurance should be a part of financial plans for those that have dependent children, and spouses, but what about singles? Up till now, I've either said no to life insurance or  at lest, I have been on the fence. 

In this week's episode of the podcast, I talk about why  I'm changing my mind about life insurance including:

1. Life insurance that I do have through work
2. Recent events that have caused me to reconsider my stance on life insurance
3. Why I think I'll only need life insurance for a short time so i'm looking into Term life
4. Why singles need life insurance too

If you're on the fence, I hope you'll listen to my position and why I changed my mind. Do you have life insurance? Why did you decide to get life insurance and how much coverage did you get?

Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'

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If you follow me on Instagram, you know that I have thoughts on this Netflix series by Ramit Sethi.  Sethi is somewhat of a household name in the personal finance space and I've read his book and frequently shared his podcasts on the gram.  In this episode though, I share my reflections on the Netflix series. I talk about

1. Themes from the show
2. Diversity of the cast
3. How they kept things interesting so maybe the most interesting money series I've seen in a while
4. What I love the most -- the conversation the show has sparked especially because we can see ourselves or someone we know in the cast
5 Defining Your Rich Life 

Inner work always preceeds the outer results, in life, in love and in Money. 

It is so important that we all define what our own Rich lives look like for US, not based on whats popular or what someone said, or what we saw on social media. Many times, it is an act of rebellion and courage to be brave enough to choose our own definitions. I hope you'll choose yours. Two years ago, I recorded  podcast episode on how to live your best rich life, I listened to it and I was like.. dang, it is still so relevant. I hope you'll also check out that episode of the podcast (Episode 21).

Thank you for the gift of your time and attention. Thank you for listening to this episode of the Rich Immigrant podcast, please give the podcast a 5 star review on Apple Podcasts, subscribe, and share this episode with someone in your world that needs  to hear these conversations.  Please join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'