Meet The Founder

“ Hi there, I’m Dee Olateru, Resident Rich Immigrant, and it’s a pleasure to meet you."

I’m a 3-time immigrant, an executive at a large global firm, a recovering procrastinator, a travel blogger, and founder of The Rich Immigrant.
Growing up, I learned nothing formally about managing finances but I observed my parents’ money habits (both positive and negative). Of all my siblings, I was the worst as I spent any money I had on movies, food, and my favourite fruits (at least it wasn’t candy).

My first financial mistake and wake-up call

After landing on US soil at the age of 16, totally clueless, I began navigating life on my own in another country. I got my first credit card and I never paid it off for years. I didn’t know better. My wake up call came after I graduated with honors, but I was left with no job, and with bills to pay. Not one to shy away from doing whatever it took, I put my Summa Cum Laude in Accounting and Business Administration aside and I settled into a factory job making light fixtures at $10 per hour.

I worked on my feet during business hours (some overtime) and in the evenings, I kept applying to jobs, studying for the GMAT, and applying to graduate program.  I created my first budget by hand, on paper, during that season of my life.

You don’t need a fat salary to create your financial plan. Start where you are.

My first budget was inspired by the world of personal finance bloggers I found at the time. Since I had no one to talk to about my financial situation, those blogs were everything! Those bloggers had circumstances different from mine but I made the best of everything I learnt. I opened my first high yield savings account and remember feeling excited when I had $1,000 in savings. Me? $1,000?? I still have that account today.


The turnaround

  • After one year as the most educated person on the factory floor (story for another time), I got accepted into a top graduate program on a full scholarship!
  • I was able to secure a full time position after my graduate studies and
  • I made a 2+ year debt payoff plan and I did it! I finally paid off all my debt about 8 years after I got that first credit card!

However, I didn’t have a community to share this journey with.
I paid off my debt but my money mistakes were far from over. I wasn’t reckless with my finances but silly money mistakes and a healthy dose of ignorance had me missing out on simple ways to build wealth over time.

We need to have more money conversations with our friends and family. The absence of these conversations is costing us!

You don’t have to make the same mistakes

The immigrant journey has its unique set of challenges and my path is one that has been filled with a few of those challenges. A lot of things have not worked out for me, but other things have. My journey navigating the immigrant experience is rich and in parts hilarious. From working in a factory to make ends meet after undergrad to being nominated to represent my firm abroad, it has been one heck of a ride.

Today, I have some bold financial goals for the next decade. I’ve learned from my mistakes and I’ve been doing better. I’ve grown professionally, I have lived and worked on four continents, I’ve been to more than 50 countries, I’m deeply engaged in my community, and I’m now taking on this new project for immigrants, by immigrants.

The Rich Immigrant was created with you at the forefront.

Often times, as immigrants we are so thankful to be in whatever space we’re in that we forget to actually occupy that space with all that we are. I believe that we can thrive where we are planted; we just have to do the absolute most with what whatever we have in our hands, and we have to be committed to learning about managing our finances.

Beyond my professional career and my role here, I’m faith-fueled, and relationship driven. Curious about my travels and career? Check out my travel blog, and follow along on my personal Instagram page linked below.

Finance Terms That Should Not Intimidate You. The Rich Immigrant Blog

12 Financial Terms That Shouldn’t Intimidate You

Many of us are intimidated by personal finance. Financial terms can be confusing but they really don’t have to be. At some point, I froze at the thought of learning about investing but not anymore! You don’t have to turn your back and in doing so, give up on your financial literacy and financial freedom. Once you pick up these terms, you’ll be using them like a pro. Here are 12 financial terms that should not intimidate you


FIRE stands for Financial Independence, Retire Early. It is a movement dedicated to extreme savings and investments that allow people to retire way earlier than the conventional retirement age of 65. Think 30s or 40s! The FIRE movement came out of the book ‘Your Money or Your Life’ and is becoming even more popular as more millennials embrace the movement. Some may employ extremely frugal lifestyles to save up to 75% of their income. There are many variations of the movement such as Fat FIRE, Lean FIRE, Barista FIRE, Coast FIRE. The FIRE movement probably deserves its own blog post as I have my opinions about the movement and there’s so much more to unpack.

2. S&P 500

The S&P 500, or simply the S&P is a stock market index that tracks the stock performance of the 500 largest companies listed on the stock exchange. The S&P stands for Standard & Poor’s. The S&P 500 is widely used by investors as the benchmark of the overall market. The index was introduced in 1957 by Standard & Poor. Quarterly, a committee selects all 500 corporations based on their liquidity, size, and industry. As of August 31, 2020, the top 10 companies in the S&P 500 were Apple, Microsoft, Amazon, Facebook, Google, Johnson & Johnson, Berkshire Hathaway B, Proctor & Gamble, and Visa Inc.

3. Recession

A recession is a decline in economic activity lasting more than a few months. This decline is usually visible in GDP, employment, retail sales, and so on.

4. Depression

A depression is a severe version of a recession.

5. Mutual Fund

A mutual fund pools cash to invest in stock, bonds or other securities. Professional fund managers manage mutual funds. The fees of a mutual fund will depend on whether a mutual fund is actively or passively managed. Fund investors pay an annual fee for the running of the fund. Actively managed mutual funds cost more and these expenses can add up over time, and on the other hand, passively managed mutual funds like index funds cost significantly less.

6. Index Fund

An index fund is a type of mutual fund whose holdings (collection of stock, bonds, or other securities) are built to track or match a specific market index such as the S&P 500. There are thousands of index funds but regardless of the index a fund may track, the goal of an index fund is to match the performance of the underlying index. Index funds may save investors time and effort of researching individual investments and managing a portfolio themselves. Index funds have the advantage of costing less than other types of funds.

7. Exchange Traded Fund (ETF)

An Exchange-traded fund is similar to a mutual fund in many ways. However, ETFs can be purchased and sold throughout the day on stock exchanges while mutual funds cannot.

8. HSA

The Health Savings Account (HSA) is a tax-advantaged savings account to save for qualified medical expenses. The HSA comes with three main tax benefits. HSA contributions are not subject to federal income tax, and the earnings grow tax-free, and withdrawals for qualified medical expenses are tax-free. You can roll forward any funds/investments leftover in your HSA indefinitely and even through retirement.

What Is A Sinking Fund
Photo by Sandy Millar on Unsplash

9. Custodial Account

A custodial account is an account set up and administered by an adult for a minor/child. Custodial accounts may be an excellent way to make a financial gift to your child – yours, a relative’s, or a friend’s. Funds and assets deposited into custodial accounts are immediately and irrevocably the property of the minor/child. You can’t take it back. The custodian has the responsibility to manage the assets for the minor until custodianship ends. In some states, a custodian can specify the age when the child will take control of the account.

10. Diversification

Diversification is spreading investments around so that your exposure to any one type of asset is limited. It helps reduce the volatility of your portfolio over time by offsetting losses in one asset class with gains in another asset class. A way to balance risk and reward in your investment portfolio is to diversify your assets. Diversification is putting your eggs (investments) in multiple baskets.

11. Dollar Cost Averaging

Dollar-Cost Averaging means investing fixed amounts consistently over time in the same fund or stock at regular intervals. Dollar-Cost Averaging is a strategy that reduces the impact of volatility in stock prices. The method smooths purchase price out over time and ensures an investor isn’t investing at the highest points.

12. Brokerage Account

A brokerage account is a means for investors to invest in the stock market. You can buy stocks, bonds, ETFs, and mutual funds with your brokerage account. Licensed brokerage firms operate brokerage accounts. Some brokerage firms require initial deposits and others do not require a deposit. You can open a brokerage account online.

There you have it, 12 financial terms that should not intimidate you. Which of these twelve items were new to you?



Want to know about the other balls I juggle and learn more on how to step into all the callings/roles placed on your heart? Keep up with me on Instagram, Twitter (okay, I remember that I have twitter about once a month), or on my travel and career blog!