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Friendship continues to be a recurring theme in my life and a recurring theme in listener desired topics. In this week's episode of the podcast, I begin to answer a listener question from December about navigating friendships where there is a wide income gap. It is a delicate topic but thats why we need to talk about it. In this episode, we discuss:
The widening income gap I've observed recently and my experience making /having lessResults from a recent study by credit KarmaSix tips to navigate friendshps with wide income and wealth gaps as the friend that makes less includingHonoring your own budget and financial boundariesAccepting generousity but not feeling entitled to itWhat to do about your feelingsA reminder that your net worth is not your self worthRe-evaluating the friendshipWhat signals might lie underneath the tensionA reminder about agency and my hope for anyone navigating this situationPart 2 is coming next week!
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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Last time I did a Q&A, this question from a listener came up and I decided to take the time to answer in its own standalone episode. Many immigrants make that initial mistake with our first credit cards and I just want to applaud this listener for asking. There's no shame here!!!
In this episode, I share about:
1. How credit scores work in the US and UK
2. The three credit bureaus and reporting agencies
3. What a good credit score is
4. Why credit scores matter
5. Ten ways to improve your credit score starting today
I also share an earlier episode Season 2 Episode 8 where I touch on similar topics. Please listen to both episodes.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'reee baccckkkk! In this warm up/return to the podcast after a longer than anticipated break, I
Catch you up on my year so farWhy my friends visiting had me in my feelingsMy thoughts on loud budgeting and the changes in real estate commissions in the USLet's catch up, and I'll be back next week!
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 the last episode on 2023 and in similar fashion, I am answering your questons and they came in hot. In this episode of the podcast, I answer listener questions across Career, Finances, Personal Reflections and so on. In this episode I answer question on
1. One thing I'm most proud of in 2023
2. What I'm looking forward to in 2024
3. My biggest financial lesson of 2023
4. I'm terrible at tracking my spending in different categories, What works for you?
5. The financial impact of friendships
6. Ex-husband owes $5,000, should I let it go or go to small claims court
7. What to do about Christmas gifts when paying debt and saving?
8. How Do you make time for learning and development ? What does this look like for you?
9.How do you cope with or manage burnout?
10. New to a new country and 8 months into a new job. I've received good feedback but Im not yet the star girl and that makes me anxious. How long does it take?
I answer these questions and so much more. I hope you listen!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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Hot takes are so freaking popular and they're clickbaitey (is that a word) but they seem to work. The thing is though, they are hardly ever 100% true and there's always nuance to things in the world of personal finance.
In this week's episode of the podcast, I respond to 6 hot takes and share my personal opinions/thoughts. Again, am I always right? No!
This is not financial advice, just me sharing my nuanced views. Personal finance is personal, always sort through information with your own internal filter!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 Holiday season is here and this episode is inspired by the OG podcaster, Myliek. In a recent episode, she briefly touched on boundaries over the holiday season and my brain went...pingggg and here we are. This got me thinking about how often we hear or even we talk about getting through the holiday season and that does not sound enjoyable.
So this episode is a reminder for all of us to set the following boundaries especially this season:
1. Set Boundaries with yourself and pour into yourself
2. Set boundaries at work this season
3. Set boundaries with your family
4. Set financial boundaries NOW
5. Schedule time with your chosen family
6. Embrace the Joy of Missing Out
Have a wonderful holiday season, with your boundaries out in full force!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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In this episode, I use a recent hilarious real life experience to analogize how lifestyle creep can happen. In this episode I talk about
How I recently adjusted to a new level of convenience without knowing itWhat lifestyle creep/inflation isHow I avoided lifestyle creep early on in my career but also honestly shared how I have allowed for some conveniences since thenI share about the different extremes we can turn to as our incomes increaseFour ways to keep lifestyle creep/inflation in checkI wrap up the episode with a reminder to compare monthly expenses to what they used to be before the end of the year. Are there intentional lifestyle improvements or have things crept up on you? Let me know what you find
They say lifestyle inflation is a silent killer of budgets. Don't let lifestyle inflation have you sabotaging yourself!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've probably seen something about someone scaling a side hustle to six figures and beyond. Side hustles are not new but they've gotten a sexy makeover in recent years. In addition, with rising costs, side hustles are a necessity for many. But is a side hustle right for you?
In this episode of the podcast, I talk about:
1. Stats around side hustles according to a recent survey and McKinsey report
2. My parents and their side hustles
3. My side hustle history as a student
4. When a side hustle may be a good idea
5. When a side hustle might not be a good idea
6. Landing somewhere in the middle
7. Do I Plan to side hustle now?
8. Toxicity of the side hustle cultureThank 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 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 lifeThank 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 mortgageFour ways to pay down a mortgage faster than scheduledPitfalls to avoid when paying down a mortgage faster than scheduledAllocating the extra payment to principalAsking about any prepayment penaltiesLooking into recastingThank 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.
Her first financial aha momentGraduating from her MBA with student loans and how she started her path to paying them offHow and why she decided to pay off debt and still invest at the same timeWhat a money circle is and her first experience getting into a money circleMoney circle vs forums Important traits for a successful money circleWhen to put a legal framework in place before investing with friendsHow 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 responsibilityWhat 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 friendshipHow the diaspora can find opportunities to invest at home/on the continent and beyond
In this conversation, Kemi and I not only model money conversation, but we tackle insightful aspects of money and friendships. Our conversation covers:
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 promotionWhether I always wanted to be a partner from day 1My best career strategies that helped me get to where I amStaying in one place vs job hopping (my thoughts)My greatest lesson on leadership so farAm I Nervous about this chapter, and if I am, how i'm handling itWhat I plan to do with my raiseHow to scale your career as someone stuck in a specialist roleBest advice for mid-level career woman, also an immigrantWhat I wish I had done differentlyMy struggles with impostor syndrome and how I overcame itAm I happy?How I'm fully embracing this new season and fully taking up spaceWhat I'm most proud ofI 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 onHow I got my first promotion at WorkNavigating professional and career growth abroadPaying off student loans vs maxing out retirementHow long is too long before a promotion or new companyWhen to buy a houseTips 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.'
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In honor of April being Financial Literacy Month, I wanted to share some of the best episodes of the podcast over the last (almost) 3 years. Let's break it down into 4 categories of podcast episodes that are helping immigrant build their financial literacy but also live fully at home and abroad:
Most Popular Episodes (Listener Faves)
1. Building Adult Friendships - Episode 59 with Kemi Onabanjo Joseph
2. What's Your Money Mindset - Season 1 Ep 1
3. 20 Years An Immigrant - The Highs & Lows - Episode 58
4. How Sayo Became Work Optional At 33 (Episode 53) and
5. How Dumebi Pivoted Into Tech & Doubled Her Base Salary (Episode 49)
Underrated Episodes
1. Are Your BFFs Your Money Tribe- Season 2 Ep. 5
2. Important Conversations To Have With Your Parents Now (Episode 69)
3. Should You Lend Money To Family? (Season 2 Ep. 4)
4. How To Invest For Kids Without Going Broke (Ep. 55)
5. How Black Tax Affects Immigrants & What We Can Do (Ep 73)
Debt Payoff Episodes
1. How Korma & Jonny Paid Off $75k in Under 2 Years (Season 2 Episode 2 & 3)
2. How Ayooluwa Paid OF $45k in One Year Using DoorDash (Episode 67)
3. How To Make a Debt Payoff Plan That Works (Season 1 Episode 9)
My Personal Favourites
1. Immigrants At Work - How To Show Up For Yourself (Season 1 Episode 8)
2. Viv's Journey From Medical School to Entrepreneurship (Ep 36)
3. Lessons From My Money Mistakes (Season 2 Episode 6)
4. How To Financially Prepare For A Move Abroad (Season 2 Episode 9)
5. The Pressure To Be The Perfect Immigrant (Episode 32)
6. Suzanne's Real Estate Investing Journey ((Ep 25 & 26)
Whether you've been listening since the beginning or you just found the podcast, there's something for your specific situation in these episodes. I hope you'll check out the recap and be re-inspired or inspired afresh!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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Everyone tells you that you need to save and invest for retirement, but what does that mean in concrete numbers? How much do you need to save/invest over time to be on track to retire without being a 'burden' to the next generation? In this episode, I talk about:
1. 2 different ways to calculate how much you need to save/invest for retirement
2. Method 1 is replacing a percentage of your income at retirement. See this retirement calculator
3. Method 2 is working towards a specific investment goal based on your calculation of (Annual retirement income/4%). Calculate how long it will take to get to your investment goal using this Bankrate calculator
In this episode, I also talk about what to do if you're ahead of schedule, and I share options for those that may feel behind. While the easiest way to stay on track for retirement is to start early, it is possible to start saving for retirement at 40 and still retire with a decent nest egg.
I hope this helps you wherever you are on your journey. I'm rooting for you.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.'
- Näytä enemmän
