The Rich Immigrant

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This past weekend made 20 years since I stepped on American soil as a wide-eyed, sheltered 16-year-old eager to take on the world on her own for the first time and in a new country. I couldn't think of a better way to kick off Season 6 of the podcast. 

In my most personal episode yet, I'm doing my best to compress 20 years into 30 minutes. In this episode I talk about and share lessons from the following segments of my journey:

1. Getting through University and my career progression so far
2. Facing my biggest fear - the loss of a loved one
3. Traveling the world
4. Immigration matters and my challenging journey
5. Friendships over the last two decades
6. My hopes for the next season/decade 
7. My hope for you, listening on the other side

It is impossible to cram 20 years into 30 minutes. There's so much I could have dug into but maybe that's a story for another platform, or even a book :). I hope my journey inspires you, or at a minimum helps you understand my experiences and how they've shaped me. 

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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It's the season finale of  Season 5 and in my usual fashion, I'm wrapping up the season with some personal updates and answering 3 listener/community questions. In this episode, I share about:
1. My big update - I'm buying my first home

• I share why I changed my mind about buying a home
• My honest thoughts on buying a home right now including
  • Current interest rates
  • Home Prices
  • What I'm most proud of right now

2. What's going on in my portfolio year to date
3. Listener Q&A - I answer these three questions from listeners

• How I managed my finances on a low income when I was a student and when I was working in a factory
• How I allocate my resources and the principles that I apply
• How I've grown in my career. Read about a day in my life as of 2017  here and 10 lessons from a decade in a global career here

I can't thank you enough for coming on this journey and 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.  Since I'll be taking a break between seasons I'm taking up a reels challenge in July, catch me on Instagram! 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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A few weeks ago, I posted about iBonds on Instagram, and not only was there a lot of interest but I also learned that many people didn't know about them. Since Instagram is only snippets, I wanted to record this podcast episode to get into iBonds a little bit more. As always, the goal is to share the knowledge so that you can make the right decision for you/your family. In this episode, I answer the following questions:

• What is a bond and what is an iBond?
• Where have iBonds been all this time?
• How do interest rates work on iBonds?
• Who can buy an iBond?
• How much can I put into iBonds?
• How can I buy iBonds?
• What are the pros and cons of iBonds?
• Should I buy iBonds?

Thank you for listening to this episode of the Rich Immigrant podcast, please rate, review, subscribe, and share this episode with someone in your world that will benefit from understanding iBonds.  Visit  Treasury Direct to purchase iBonds electronically. 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 topic is near to my heart, and yours I presume! As immigrants and BIPOC, especially, we know all about Black Tax but we want to lessen the burden for the next generation. In this week's episode, we talk about how to invest for your kids even if you don't have kids yet. We cover:

• Take care of yourself first (financially)
• What you teach and model is more important than how much you pass on
• Making investing and financial literacy part of everyday conversations (age-appropriate, of course)
• Open a 529 college savings account (or an RESP in Canada)
• Open a custodial account (the UK equivalent is a Junior ISA)
• Open a Roth IRA for your child as soon as they start working
• How to invest for your kids if you're just  getting by and can't invest for your kids now
• The one thing you can offer your kids that is priceless - a toolkit to tackle life

I can't wait to hear and see all you do to protect, educate, and position your kids.

Thank you for listening to this episode of the Rich Immigrant podcast, please rate, review, subscribe, and share this episode with a parent or future parent today. 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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We need to continue the conversation around what is happening in the market so that each person can respond accordingly based on his/her financial situation. We saw a dip in economic activity in the first quarter, and there have been talks of bear markets, but what should we know at this time?

In this episode, I talk about:

1. What is a recession?
2. Who declares recessions in the United States
3. The best time to prepare for a recession
3. 8 Tips for handling your finances in the face of a recession


I hope this episode provides you with tools to better understand what's going on, and actionable tools to respond and protect your finances today.

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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You read the title right! Sayo and her husband accomplished this while living in Nigeria until they relocated to Canada in 2020. I'm so inspired and energized by this episode. What a journey and a testament to what is possible. I'm convinced that there's something for everyone in this episode.

Sayo Tola –Adenaike is a Personal Finance Educator and Global Professional Accountant with
over 15 years of experience. She is a member of the Institute of Chartered Accountants of
Nigeria, the Chartered Institute of Management Accountants UK, and the Chartered Professional
Accountants of Canada. Sayo currently works as the Finance Controller at a faith-based not-for-profit organization, based in Waterloo, Ontario Canada. Follow Sayo on thefinancemum on Instagram.

In this episode, we talk about

• Why her family relocated to Canada
• How she started investing with her 9-5
• How she found ways to grow her income (7x at some point)
• Taking advantage of the opportunities where you are
• How she brought her friends along on her financial journey
• Her journey to FIRE and work optionality
• Her why for FIRE
• Her return to work and what she wants her kids to know about her journey
• How Sayo and her husband partner in their finances

And so much more!

Beyond her professional accomplishments, Sayo is passionate about achieving financial
independence and empowering others to do the same. She is the founder of TheFinanceMum,
a platform where she shares her experience, knowledge, and tools to help people advance on
their journey to financial freedom and ultimately, personal fulfillment.  Sayo is an active volunteer in her community, investing time in advancing various causes within her spheres of influence. She is
married to Adetola and they are blessed with 4 children.

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 stock market has been in rollercoaster mode so far in 2022 and who knows what's next? There are certainly a lot of opinions out there but no one has a crystal ball. There's also a lot of jargon being thrown around. My goal with today's episode is to break down the jargon and explain what in the world is going on with the Fed such that someone with the least around of interest has a basic understanding so they can make informed decisions.

In this episode, I talk about:

1. Who/what is the Fed and why does it exist?
2. The most influential tool used by the Fed
3. What is the Federal Funds target rate?
4. How do banks charge each other interest and how does the federal fund's target rate affects you and I
3. How does the Fed raising the target rate affect savings accounts?
6. How does the Fed raising the rate affect our best, and especially homebuyers?
7. How does the Fed raising rate affect the stock market and immediate investor psychology?

I hope this episode provides you with tools to better understand what's going on, to dig deeper, and most importantly, to make informed decisions.

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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I promised I would share more travel tips and so I'm back with 12 tips to save you money on travel starting with your very next trip. Travel (even budget) is a luxury but it doesn't have to be out of reach and there are ways to make it happen. Travel has enriched my life and I want to share ways for you to experience it as well

In this episode, I share 12 tips to save money on travel:

1. Travel to places where your home currency will go further
2. Travel during shoulder or off-season
3. Using points and miles to cover some costs
4. How to save on foreign transaction fees
5. Getting discounts while abroad
6. Adding free activities to your itinerary and so on

I don't just share these tips, I share practical examples of how I have used these tips in the past

Resources:
1. Here's the blog post with details on building your travel budget. At the bottom of the post, there's a link to my travel budget template.
2. I also referenced Scotts Cheap Flights for flight deals.

Thank you for listening to this episode of the Rich Immigrant podcast, please rate, review, subscribe, and share this episode on iTunes. See you in a few weeks!

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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When you're getting your financial house in order, you might wonder how many bank accounts you should have and what types of bank accounts? In this episode, I do not share a magical number, instead I help you c

• How having multiple accounts can help you stay on track and organized with your financial goals
• Account #1: My operating bank account and my goal for this account
• Account #2 My emergency fund to keep me afloat in case of emergencies
• Account #3: Sinking Funds and how I save for those using multiple savings accounts
• Account #4: My other checking account (for travel and associated to my 
• The why behind my use of traditional bank accounts and my use of high yield savings account
• Explaining why High Yield Savings Accounts (HYSAs) are able to pay more interest
• The High 5 Banking Method vs the 4 Bank Account Bucket Method
• The importance of building systems and processes around your finances and the bank accounts you have are meant to aid in your goals
• Business accounts (savings and checking should be entirely separate from the examples above)

Whatever you decide, the total number of bank accounts that you need is the number of bank accounts that you will use. Need to learn more about sinking funds by reading this blog post. 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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Pivoting into tech is a popular move lately but how are regular people actually doing it? When Dumebi shared that she pivoted into tech and doubled her base salary, I knew I just had to bring her on the podcast to share her experience with you. Dumebi Oti is a Cloud Economist at a Tech Company in the United States. 

In this episode, we talk about:

1. Is the move to Teach as sexy and exclusive as it sounds on Instagram?
2. What she was doing before and why she decided to make the switch from Finance to Tech?
3. The key things she did to prepare for the transition  (upskilling, applying, networking, boot camps, etc)
4. For anyone looking to make a similar transition, what pitfalls should they avoid?
5. What people should look for should they decide to go with a Bootcamp or course 
6. Lessons learned from the interview process and what she would do differently
7. We talked JustMovedToYankee (JMTY) and what she finds most rewarding. 
8. How her personal experience transitioning into Corporate America inspired her to start JMTY

A little more about Dumebi: after graduating from Babcock University, she moved to the U.S to pursue a Master’s degree in Economics from The University of Texas at Dallas. Upon joining Corporate America, she realized that she and a lot of other African immigrants struggled to integrate into the system due to cultural differences & information gaps. So she created JustMovedToYankee (aka JMTY); a community dedicated to helping African immigrants thrive in the U.S! She’s also the owner of 360SoftPlay, in the Dallas bounce houses and soft play for kids.

Follow Dumebi on Instagram at @doomaybee; @justmovedtoyankee

Thank you so much for listening to this episode of The Rich Immigrant podcast. 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.'