The Rich Immigrant

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Let's break down retirement investing as simply as I possibly can. In this episode, I talk about:

• The burden of being the sandwich generation and the norm for kids to provide for their aging parents in certain cultures
• Why it is important to invest for retirement and why investing for retirement is generational wealth
• Types of accounts to use to invest for retirement
• Why investing through an employer first may be a good idea
• Retirement investing alternatives without employer match (IRA, ISA, TFSA)
• Explaining what a brokerage is
• Roth IRA vs Traditional IRA
• Prioritising investing for retirement vs investing for kids

I hope this episode breaks down retirement investing for someone looking to start but has trouble understanding where to start and how things work. Please share this episode with someone that needs it!

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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Ayooluwa really paid off $45k of student loan debt in one year and  it took an incredible amount of focus and sacrifice. I'm excited to bring you our conversation this week. In this episode, we talk about:

•  How and why she moved to the United States in 2016
• How she took a leap of faith after a fully funded scholarship by the Nigerian government did not materialize at the last minute
• How she funded her Master's Degree with a combination of savings, scholarships, and a loan
• How she got a co-signer for her loan as an international student
• How she got into DoorDash while applying for jobs and how she made a plan to pay off in one year
• How she kept expenses down and what she sacrificed while paying off debt
• Why we need to have more money conversations in our community
• How things have changed since she paid off debt and her current focus
• Her message for anyone feeling like they're sitting on a mountain of debt
• How's she's investing in this economy

If you're on a debt payoff journey, this story will inspire you. I hope you'll listen and share.

Ayooluwa is a Certified Financial Education Instructor (CFEI) who specializes in personal financial wellness. She is passionate about creating money savvy professionals and entrepreneurs by helping them define their money goals and providing practical guidance on how to achieve the goals. She is a chartered accountant with several years of financial services experience in a Big 4 accounting firm and the oil & gas services industry. She shares personal finance strategies covering budgeting, saving, investing, insurance, debt pay-off plan and retirement plan amongst others.

Keep up with here on Instagram @myfinancecenter or on Linked In Ayooluwa Ijarogbe

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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Let chit chat this episode while I share 5 things you should know about in November 2022

1. The Fed has raised interest rates again. What does this mean and what did the Fed say to expect?
2. The twitter saga with Elon Musk. #drama #MrErratic
3. Tech job freezes and downsizing announcements
4. IRS announced limits for 401ks, IRAs, and HSAs for 2023. Let's talk about it
5. Powerball lottery is at $1.9billion. What would you do if you won a huge sum of money? Let's talk about the man that won $30 million in China but kept it a secret!

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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When I first started at my full-time job 13 years ago, benefits enrollment and open enrollemt were foreign languages to me. With no one to talk to, I read part of the jargon, made my elections, and kept it moving for SIX years. It would take me that much time to realize that I'd been selecting the wrong health insurance plan .  It's that time of the year when employees of companies in the USA are making their benefits elections.

In this episode, I explain key open enrollment reminders. I talk about
1. Some key terms that relate to health insurance
2. Understanding the plan options available to you and then assess what plans(s) are best for you
3. Comparing your company's options to the options provided by your partner's employer
4. Understanding what has changed in your Company's benefits and policies.
5. Assessing any changes in your life or in your life goals that warrant a change in your benefit enrollment elections for the year.

Your benefits are part of your overall package and you should make sure they're working for you. Thank you for listening to this episode of the Rich Immigrant podcast, please rate, review, subscribe, and share this episode on iTunes.

Stay connected with the podcast and join our community online at www.therichimmigrant.com or on  Instagram at 'Therichimmigrant.'

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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OG Listeners will recall we had this recession conversation in June (Episode 54 of the podcast). However, since then

• Central banks have continued to struggle to control the flow of money and the Federal Reserve has raised interest rates 5 different times this year (so far)
• Inflation reports for September show inflation at 8.2%. Thats still high!
• Gas prices have fallen a bit but they're still high and OPEN is decreasing oil production starting in November 2022.

I share all this to say that there is still volatility and the signs of a recession are pretty glaring. The goal is not to freak you out, but it is to put you and I on guard.  In this episode, I share 7 things to do to position yourself to weather a potential recession

1. Do a financial audit 
2. Revisit and ramp up your emergency fund
3. Pay down high interest debt
4.Bring value at work and Upskill
5. Increase your income
6. Diversify your investments
7. Get support within your community

We are always heading towards a recession, we just don't know when and for how long. Recessions will always have casualties but they also always have winners. Want to know more on what to do with your money right now depending in your financial situation? Listen to Episode 3 of the podcast1

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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Alex Mason is a passionate investor and curator of the best stock market ideas.  Since 2018, he has been the host of Stock Stories, a podcast and now, YouTube channel, helping investors decode the business behind the stock.  He is studying every component of the S&P 500, and sharing everything he learns.  

After graduating from MIT and starting work as an aerospace engineer, he realized there was much more to money than just working hard and trading time for it. After discovering investing in his early 20s, he and his wife eventually built a portfolio that allowed them to become financially independent by 30 years old.

Though work is now optional, Alex continues to work in the aerospace industry and is passionately studying companies and producing new stock market lessons every week, in addition to working at a fintech startup part-time.  He plans to take a sabbatical next year with his wife.

In this episode, Alex & I talk about:

What he learned about money growing up
Having their financial 'aha' moment at the age of 21
How they started on their investing journey
His 3 favorite books for investing newbies
How he thinks about investing in index funds vs individual stocks
How to start dipping your toes into individual stock investing
What is the S&P 500 and why he decided to analyse these stocks
What to look for when researching a company
How to think about growth stocks vs dividend stocks
Common investing newbie mistakes
What financial independence means to him 
How life has changed since attaining financial independence
Sabbaticals and building in pauses into our lives

This episode is packed with so much value. Break it up into parts if you must but please give it a listed and follow along on Alex's Podcast and/or YouTube channel.

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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Unless you've been living under a rock, you've seen some pretty wild statistics about the Great Resignation and people leaving their jobs. How do you know that you are ready for a new job or career? Let's talk about it.   In this episode, I talk about:

1. 10 signs that it is time to look elsewhere
2. If you've decided that it might be time to leave, Remember that

• It's okay not to be clear on the exact next steps but start with what you don't want and follow your curiousity
• You should be honest about whether you're changing jobs in the same fields or changing careers entirely
• It is best to look before you're desperate so you can consider your options from a place of power

Want to learn how Dumebi pivoted into tech and doubled her base salary, listen to episode 49 of the podcast!

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're back!!!!! In this week's episode, we are taking on the rent vs buy debacle.  In this episode, I talk about:

1. How my dad asked me when Id buy a home as soon as I got a full-time job
2. Building wealth while renting vs buying
3. Are you throwing away money by renting?
4. Breaking down the make-up of mortgage payments and what portion is actually building wealth
5. Why just comparing rent to mortgage is actually an apples to oranges comparison
6. Pros and cons of renting
7. Pros and cons of buying your home
8. Examples of people making different choices based o their circumstances, preferences, etc. 

This episode is not meant to tell you whether to rent or buy a home. The goal is to equip you to make the right decision for you. V

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

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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This week's episode is inspired by conversations and observations that I have made lately. No one likes to be called cheap, but there's a fine line between being cheap and being frugal so let's talk about it.  In this episode, I talk about:

1. What it means to be cheap or miserly
2. Examples of cheap behaviors
3. What I am NOT referring 
4. What it means to be frugal
5. Examples of frugal behavior
6. Where the fine line between being cheap vs frugality gets crossed
7. 4 Questions to find out if you're being cheap 

This episode is not meant to shame us, the goal is to help us identify our own patterns and course correct them when we can. It is important that we remember that money is a tool. It is a tool to be used rather than one to be hoarded. Values-based spending is ultimately the goal. 

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

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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Friendships & community have been a recurring theme on my mind this year. How can we live rich lives without rich relationships? In this episode, I have a long-awaited conversation with one of my besties, Kemi Onabanjo - Joseph. In this episode, you'll hear a lot of laughter,  reflection, and wisdom, as we take you on a journey. We talk about: 

• How we met (how a seemingly insignificant IG moment birthed something bigger than us)
• What is something Kemi is learning this season?
• How we have stayed connected over time despite living on different continents
• How does she make time to stay connected to her wide network and to her closest circle (which is pretty wide)?
• How she thinks about relationships and making room for new friends
• How she has processed and moved forward from friendships grown distant 
• Authenticity and vulnerability are superpowers that she has managed to tap into. How is she able to show up and share in this way?
• Looking back on our friendship over the last 5 years, what she is most thankful for (I share what I'm thankful for as well)
• Her best  advice for anyone actively looking to find their tribe in this season 

Part 2 of the conversation will get into Friendship Money circles! I can't wait to have Kemi back (this year) to finish our conversation!

Kemi will say that she is just a happy child (also someone's mom and wife) who loves life, loves to laugh, loves to dance, loves to travel, loves to stay fit (sometimes), loves work, loves love, and loves Jesus.

Kemi works as an Associate Partner of one of the leading global management consulting firms (McKinsey & Company) in Nigeria. Prior to joining McKinsey, she worked with Zenith Bank and Ericsson (both in Nigeria) across various roles. Kemi holds a B.Sc. in Computer Science from Covenant University and an MBA from INSEAD in France (where she was valedictorian for her class).

Outside of work, she is the President of the Covenant University Alumni Association, a pioneer Mandela Washington Fellow of President Obama’s Young African Leaders Initiative, an Associate of the Nigeria Leadership Initiative, and a pioneer mentee of the WIMBIZ (Women in Management, Business and Public Service) mentoring program. She is a member of the Board of Trustees for HOPE (Helping Other People Excel) and also serves on the board of the Steadfast Love Foundation and Beyond a Curved Spine. 

In 2018, she was a Future Awards Africa Nominee in the Professional Service category and was recognized on YNaija’s Power List for Corporate Nigeria. In 2017, she was also recognized as one of the top 100 inspiring women in Nigeria by Leading Ladies Africa. She actively mentors young men and women.

Kemi is a lover of theatre and actively explores the world through travel. Follow Kemi on Instagram here and sign up for her weekly value-packed newsletters

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.'