The Irish FIRE Podcast
Ep 33: Happiness VS Financial Independence

Ep 33: Happiness VS Financial Independence

October 11, 2019

In this episode, Michael explores the idea that happiness and financial independence is a trade off.

He challenges the listener to start living their life as if they were retired, and to start doing the things that they want to do now - rather than waiting until retirement.

Show Notes:

Mad Fientist Article:
https://www.madfientist.com/best-and-worst-about-fi

Events:
To book in for the Pension Aware event, visit:
https://www.firepodcast.ie/events

Ep 32: Should you cruise your way to financial independence

Ep 32: Should you cruise your way to financial independence

October 8, 2019

In this episode, Michael explores a concept known as cruise FI - where you focus your energy on building a large pension pot which you can then access in retirement. Once you have that retirement saving, you can then relax, knowing that you have the large pension available.

Michael crunches the numbers when it comes to putting €500 per month into a pension from the age of 30. He also gives a summary of how he plans to cruise his way to FI through using a pension.

Show notes:
To view free events that you can attend visit:
https://www.firepodcast.ie/events

Ep 31: How to get started on your financial independence journey

Ep 31: How to get started on your financial independence journey

October 1, 2019

In this episode Michael lists the 7 steps that he followed when he started pursuing financial independence. Michael tackles the "how" to FI, and gives practical steps for you to get started on your own FI journey.

Show Notes:

Rich Dad Poor Dad:
https://amzn.to/2mEsgxG

A Simple Path to Wealth:
https://amzn.to/2nsaKwX

Money Master the Game:
https://amzn.to/2o6RIw0

Come and join Michael at an event:
https://www.firepodcast.ie/events

Ep 30: Talking money with Aoife Gaffney

Ep 30: Talking money with Aoife Gaffney

September 26, 2019

In this episode, Michael talks to Aoife Gaffney, AKA Prudence Money Penny. Aoife is a Certified Behavioural Money Coach (CMC), Accredited Business All Stars Thought Leader, professional speaker and writer and former financial adviser.

Michael interviews Aoife about a person's relationship with money, how you can improve your view point with money and just share general tips and advise when it comes to managing money!

Quotes from the episode:

"The different between an opinion and a pizza, is you opt for a pizza."

"A bargain is only a bargain if you needed the thing in the first place and you had planned to pay full price for it."

"The word budget doesn't sit right with me.... we call it a personal spending plan."

"Make spending decisions based on a plan, not whats in your bank balance."

"I see money as a friend... if you only spoke to them once a year, they're not going to hang around... "

Show Notes:

Cork Financial Independence Meet Up Group:
https://www.meetup.com/Financial-Independence-Ireland-Cork

Link to Aoife's books on Amazon:
https://www.amazon.co.uk/Prudence-Moneypenny/e/B00VDGJMG8?ref=sr_ntt_srch_lnk_1&qid=1569489209&sr=1-1

Email Aiofe: [email protected] 

For events and webinars visit:
www.firepodcast.ie/events

Ep 29: Why my investment portfolio is so unconventional

Ep 29: Why my investment portfolio is so unconventional

September 23, 2019

In this episode, Michael explores the different tax rules around investments in Ireland and explain why he invests in certain assets based on the tax rates.

He explains that tax rates are all about incentives and explores the good and bad investments based on tax rates.

He highlights three investment tools that are tax efficient - pensions, capital gains tax and corporate tax - and explores options around each of these.

Show Notes

For events and webinars visit:
www.firepodcast.ie/events

Ep 28: Multiple Income Potentials

Ep 28: Multiple Income Potentials

September 20, 2019

In this episode, Michael explores the idea of building potential income streams, in the hope that if one of them takes off, the upside payoff will give unlimited potential.

He talks about why he made the decision to work part time - in the hope of using more of his time to work on various projects which might have a bigger upside in the long run.

Michael mentions how financial Independence isn't just a financial journey, its a personal discovery journey!

He talks about how to leverage other people's time and focus on taking baby steps to shift your focus from a single income steam, to multiple income steams.

Show Notes

For events and webinars visit:
www.firepodcast.ie/events

Ep 27: How we use credit cards to manage our cash flow

Ep 27: How we use credit cards to manage our cash flow

September 18, 2019

In this episode, Michael shares how he uses credit cards to manage his daily cash flow.

He gives a history of how he found himself in €30,000 in credit card debt 12 years ago and what he learned from that experience.

Today, Michael uses two credit cards to pay for his day to day expenses.  He discusses how this strategy can be useful to improve cash flow and decrease bank charges.

Show Notes

Peer to Peer Lending Webinar:
https://www.firepodcast.ie/events

Ep 26: All you need to know about active and passive FOREX trading

Ep 26: All you need to know about active and passive FOREX trading

September 16, 2019

In this episode, Michael shares some of his knowledge on the FOREX trading industry.  He looks at various options around active and passive FOREX trading. 

Active trading is where you are in control over the trades that you carry out.  Passive trading is where another trader trades on your behalf.  Once the account is set up, the trading is fully passive.

Michael is running free live webinar's each month, covering both active and passive (copy trading) FOREX trading.  To view the events and register, visit:
https://www.firepodcast.ie/events

Show Notes:

To find out more about Bizintra visit and receive a call back with more information on how their free trading education works, visit:
https://bit.ly/2kfqTnI

Ep 25: Talking Pensions with Ralph Benson from Moneycube

Ep 25: Talking Pensions with Ralph Benson from Moneycube

September 11, 2019

In this episode, Michael talks to Ralph Benson from Moneycube.

Ralph is on a mission to add more transparency to pensions and investment products.

Pensions are a fantastic way to invest in an extremely tax efficient manner.  For many in Ireland, especially those who are PAYE earners, a Pension is the most tax efficient route to invest.

Ralph is looking to make pensions "cool again".  He is going out on the road as part of the "Pensions Awareness Week".  He is hosting various free events where you can learn more about how you can utilise a pension as part of your financial freedom journey.  I am speaking at the event in Cork on the 24th and the Limerick event on the 25th of September.

Show notes:

Pensions Awareness week website:
https://pensionsawarenessweek.ie/

Pension Events:

Evening Events:
24 September - Cork - https://www.facebook.com/events/897840190582191/
25 September - Limerick - https://www.facebook.com/events/2015051725262092/
26 September - Dublin - https://www.facebook.com/events/2751097374910233/

Morning Events:
24 September - Cork - https://www.facebook.com/events/1438264073016438/
25 September - Limerick - https://www.facebook.com/events/2479754678782411/

Ralph can be contacted at [email protected] and https://moneycube.ie

For other events and webinars visit:
www.firepodcast.ie/events

Ep 24: Pay off debt or invest… how about both!

Ep 24: Pay off debt or invest… how about both!

September 6, 2019

In this episode, Michael tackles the question of should you focus of paying debt (or your mortgage) quicker by making extra repayments, or should you invest.

He looks at different options, such as:
- Clearing off high interest debt.
- Invest in cash producing assets. Once the cash flow from the investments pays for your mortgage, you will be effectively mortgage free.
- Start making extra repayments on your debt and track it as an investment. Effectively borrow against your investment portfolio, with a promise to pay it back, plus interest.

Show notes:

Meet up Groups coming up:

12th September - Dublin meet up group:
https://www.meetup.com/Financial-Independence-Ireland/events/263068469/

18th September - Limerick meet up group:
https://www.meetup.com/meetup-group-chEBAcCR/events/263383580/