Michael discusses financial independence in an Irish context. Join him as he shares stories of his own journey towards financial independence, interviews others on FIRE related topics and tries to work out the best path to early retirement in Ireland.
In this episode, Michael describes daily working life for him. He briefly described what has happened to him work life over the last 12 months or so and explains how he handles getting through the daily grind. He discusses how he views work and how he comes up with early exit strategies in the event that he decides that the daily grid isn't worth it.
Show Notes
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https://www.firepodcast.ie/newsletter
In this episode, Michael shares a list of 12 ideas to help reduce expenses.
With inflation running at 40 year highs, reducing expenses can be a great way to tackle the impact on inflation.
Be sure to subscribe to the Monthly Newsletter to keep up with Michael's latest portfolio updates:
https://www.firepodcast.ie/newsletter
Show Notes
Article on upgrading to a more economic car:
https://www.firepodcast.ie/march-2022-portfolio-update
Article on Solar Panel Investment:
https://www.firepodcast.ie/july-2022-portfolio-update
Dolphin Utilities:
https://dolphinutilities.com
In this episode, Michael shares his story of buying an investment property in 2022.
He shares his high's and low's of activity looking for an investment property in Limerick - and explains what has changed in 2022 when buying a property.
Show Notes
Join The Irish FIRE Newsletter by visiting:
https://www.firepodcast.ie/newsletter
In this episode, Michael talks to the author of the Money Flamingo Blog. Tina is originally from Europe and is now living in Australia. She become "Flamingo FI" in 2020 and has been living a semi retired lifestyle since then.
Tina tells her own story, and shares her wisdom of why she adopted Flamingo FI. As she mentions, "the real goal is the happiness that you can achieve along the path [to FI]".
Show Notes:
Check out Tina's blog at (and join her newsletter):
https://www.moneyflamingo.com
Coast FI Grid
https://www.moneyflamingo.com/coast-fi
Join The Irish FIRE newsletter at:
https://www.firepodcast.ie/newsletter
In this episode, Michael takes a moment to reflect on the Ukraine War. He mentions that it is hard to discuss personal finance when there is a war going on in Europe. He talks about luck and the impact that that has on one's FIRE journey.
He mentions that it has become difficult to try to forecast investment returns over the next number of years and this makes planning for early retirement nearly impossible. He touches on interest rates and the impact this will have on housing, as well as speculates on what might happen in the economy over the next year or two.
Show Notes:
https://www.youtube.com/thedogecoinmillionaire
Sign up for the newsletter:
https://www.firepodcast.ie/newsletter
In this episode Michael discusses the three phases for FI. Michael shares how he is currently at a full throttle FIRE stage, where he is looking to maximise his income potential.
He mentions that working hard for a full months can be worth it, if it helps you move along quickly in your FI journey, or helps to secure another significant asset, such as an investment property.
He mentions concept of the semi-retirement phase, where we look to cut back on making portfolio contributions and enjoy more time freedom. He mentions the concept of Flamingo FIRE.
He also discusses strategies in relation to inflation, and strategies to help dealing with high inflation.
Show Notes
CPI Calculation:
https://www.cso.ie/en/interactivezone/visualisationtools/cpiinflationcalculator
Flamingo FIRE:
https://www.moneyflamingo.com
Sign up for the newsletter:
https://www.firepodcast.ie/newsletter
In this special two year anniversary episode, Michael interviews Andrew Driver. Andrew has been investing for a number of years and is well on his way to FI.
In the interview, we talk about Investment Trusts, which are a great way to get around the horrid Deemed Disposal tax that exists in Ireland. Invest Trusts are taxed at 33% and dividends are taxed at your Income Tax Rate - so they are a tax efficient way to invest in Ireland.
Disclaimer: This interview is not financial advise - please take opinions on the interview for education purposes only.
Show Notes:
https://www.itinvestor.co.uk
https://money-makers.co/money-maker-podcasts
https://www.theaic.co.uk
https://www.amazon.co.uk/Financial-Times-Guide-Investment-Trusts/dp/1292232544
Where to buy investment trusts:
https://www.interactivebrokers.ie
https://www.degiro.ie
Come and Meet Andrew at the Next Limerick Meet up Group - https://www.meetup.com/financial-indepdence-limerick
Subscribe to the newsletter to stay in touch with regular monthly updates:
https://www.firepodcast.ie/members
In this episode, Michael discusses The Barista FIRE Approach - the concept of building a small portfolio and letting compounding grow the portfolio while not withdrawing from the portfolio until when you retire.
Barista FIRE is a great approach to FIRE in Ireland, as its an extremely tax efficient way to approach early retirement, and still allows for an early retirement age of 55.
Subscribe to the newsletter to stay in touch with regular monthly updates:
https://www.firepodcast.ie/members
In this episode, Michael discusses the options around what he invests in 2021 and provides an update on how his investments has changed over the last 3 years.
He answers questions such as:
- Do I still invest in Peer to Peer Lending?
- What is the best way to save for my children's college fund?
- What is the most tax efficient way to invest as a sole trader?
- Why do I say that Cryptocurrency looks like a better investment than ETFs in Ireland?
To keep up to date with Michael's journey, subscribe to the monthly newsletter at:
https://www.firepodcast.ie/members
In this episode, Michael answers a question from Sinead, who has recently sold up her property in Ireland and has moved to the Canaries.
Michael works through the numbers, to see if it is possible for Sinead to be financially independent within 5 years.
To keep up to date with Michael's journey, subscribe to the monthly newsletter at:
https://www.firepodcast.ie/members
