WTTK

WTTK #1: Should I Transfer Property to a Relative?

What’s the Tea, Katie? or WTTK, is where I answer financial and investment questions from the readers of the Katie Scarlett Needs Money blog. Although I try my best to answer the questions based on the information provided, I want to reiterate that I am not a not a licensed professional. These are my opinions and suggestions based on what I think are the best information available. On the other hand, I am not selling you any investment advice and/or products, so you can be assured that I’m not being biased since I have no hidden agenda. 😀 If you

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November 29, 2019 No Comments

Education

How to Invest for College – A Simple Method

If you’re a parent like me, one of your most important financial goals is to save and invest enough for your child’s college education. Even though there is an emerging trend in western and developed countries of people opting out of college, we in developing countries do not have the same luxury. If we ever want to ensure that our children stay out of poverty, have high paying jobs (if they choose to), and receive a modicum of respect from society, they need to attend and finish college. Periodt. Not saving enough money for your child’s college education is the

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November 22, 2019 4 Comments

Products Services and Reviews

Gift Ideas for the Financially Savvy Person in Your Life

Most of us find it hard to find gifts to celebrate special times. So I compiled a list of gift ideas for the financially savvy person in your life to help you plan for the holidays. Of course, you can also just give people gifts as a way to make them feel special, even when there’s no occasion. YOUNG CHILDREN The best time to start a person’s financial education is when they’re still young. For young children, it’s best to keep it simple. Start by teaching them the value of saving their money. For this, you basically have two options:

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November 15, 2019 No Comments

Cross Border Investment

I Opened a TD Ameritrade Account – Now What?

After the initial excitement of having a US-based online brokerage account, readers messaged me asking what else they need to do to actually start investing through TD Ameritrade. They needed additional information and guidance on how to proceed. This post is to bridge that knowledge gap from account activation to buying the stock or mutual fund of your choice. I wrote this post because I thought that if there are people who took the time to write me and ask these questions, there must be others who have the same questions but didn’t bother to write. If you’re one of those

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November 8, 2019 39 Comments

FIRE

Why I Want to FIRE – A Personal Tale of Early Woes and Awesome Wins

I was in yoga class one night when I realized that I’ve been speaking to you guys about money and ways to achieve financial goals but you barely know anything about me, Katie Scarlett. After bringing this fact up to my son, I decided to be more open with you guys. I want to share with you why I want to achieve financial independence and early retirement (FIRE). I feel privileged that so many of you have shared your stories and goals with me privately via email or Facebook messenger. And to balance that out, I think it’s now my

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October 31, 2019 9 Comments

OFW

Analysis of Common Investment Options for OFWs

A great way for OFWs to maximize their earnings abroad is through investing. Instead of just putting their money away in a regular bank savings account, OFWs can instead make that money earn more money by investing. But not all investments are created equal. Depending on several factors, one option may be great for you while it is not so for another. In this post, I will share my analyses of common investment options for OFWs. I mentioned in the post How to Build a Strong Financial Foundation As An OFW that you need to be prepared, mentally and financially, even before

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October 16, 2019 6 Comments

Travel

Crossing the Turkmenistan-Uzbekistan Border

I was given a four-day transit visa by Turkmenistan immigration so I had to leave on time or risk deportation (probably, maybe).After my overnight stay in the Darvaza Gas Crater, fittingly dubbed the Door to Hell by people for its creepy but romantic (a combination that doesn’t work for people) ambience at night then a mid-morning stroll looking at the ruins of Konye-Urgench, I opted to cross the border to Uzbekistan from Konye-Urgench instead of from Dashoguz. I was worried that I won’t have enough time to get out of Turkmenistan if I travel from Konye-Urgench to Dashoguz, which Sergey

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October 3, 2019 No Comments

Investing

3 Pag-IBIG MP2 Hacks For Advanced Investors

I think most of us would agree that Pag-IBIG MP2 is a great investment. It is one of the most popular investment instruments for both OFWs and workers based in the Philippines. Its popularity is due to the fact that Pag-IBIG MP2 is guaranteed by the Philippine government and has a higher dividend rate compared to other safe investments like time deposits, retail treasury bonds, and money market funds The MP2 is a boon to Filipinos who want their money to grow but are afraid to put their money in other, riskier investments. If you’re one of these people, this

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September 27, 2019 57 Comments

Travel

The Beautiful Ruins of Konye-Urgench

After saying goodbye to the Darvaza Gas Crater, we took off for a short tour of Konye-Urgench before I cross the border to Uzbekistan. We left at 9 a.m. since Konye-Urgench is 270 kilometers away, or around 3 and a half hours of driving. I really debated with myself whether or not I will visit Konye-Urgench. My next destination after exiting Turkmenistan was the former slave trading town of Khiva, now in Uzbekistan. The nearest border exit going to Khiva is through Dashoguz, around 2 hours away from Konye-Urgench, and it was reportedly easier to get a cab to Khiva

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September 24, 2019 No Comments

Products Services and Reviews

Review: Quit Like A Millionaire by Kristy Shen and Bryce Leung

As a personal finance education enthusiast, I love finding new PF literature that gives me new ideas. In the more than 15 years of consuming personal finance books and blogs, I’ve come to notice that many inevitably explore more or less the same ideas, with the best ones giving you a new a take on old wisdom and the bad ones being just basically bad rewording of personal finance classics. So it’s always such a surprise when I encounter works that combine existing knowledge with a different perspective while giving new and original ideas that make you think. That’s why

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