The Irish FIRE Podcast
Ep 51: Investing During a Downturn

Ep 51: Investing During a Downturn

April 14, 2020

In this episode Michael talks about how he is investing during a downturn. He talks about some of the mistakes he has made and how he is looking to invest going forward.

He also gives an update on what happens in Grupeer and how he is thinking about managing his P2P portfolio moving forward.

Show Notes

FIRE Dating: https://firedating.me

Irish P2P Platforms:

Flender
https://www.linkedfinance.com
https://www.propertybridges.com

JL Collins - A Simple Path to Wealth
https://www.amazon.co.uk/Simple-Path-Wealth-financial-independence/dp/1533667926

Ep 50: What is Money Anyway?

Ep 50: What is Money Anyway?

March 31, 2020

In this episode, Michael looks into the history of money and how the economy works.

Mentions in the episode:
- Coming off the gold standard
- Fractional banking system
- Understanding why central banks are printing money
- Understanding that most of the money in our society is actually debt, not physical cash.

He talks about how he is trying to leverage debt and is actively looking for new deals to generate income by leveraging debt, particularly with his new venture Forestry Crowd.

Show Notes:

How the Economic Machine Works - Ray Dalio
https://www.youtube.com/watch?v=PHe0bXAIuk0

The History of Money:
https://www.youtube.com/watch?v=2nBPN-MKefA

Interested in learning about Forestry Crowd, visit:
https://www.forestrycrowd.com

Ep 49: What’s your Edge

Ep 49: What’s your Edge

March 17, 2020

In this episode, Michael gives an update on life in Ireland since the Coronavirus outbreak. He mentions how he is taking new opportunities with the change of market conditions and what changes he has made since the Coronavirus.

Michael talks about his edge that has allowed him to work 12 hours per week - he mentions that people who are on an FI journey typically find an edge that allows them either to make extra money or give themselves extra time (or both).

He reveals his own edge and how he was able to adapt to make more money from his edge.

Finally, Michael reveals a final thought on the current market crash and why it isn't always as easy to buy when there are so many great bargains out there!

Become a FIRE podcast member for free at:
https://www.firepodcast.ie

Ep 48: Investing & Money Saving Tips with Alvar Damon

Ep 48: Investing & Money Saving Tips with Alvar Damon

March 5, 2020

In this episode, Michael chats with Alvar Damon, who provides a follow up interview (Alvar originally appeared on episode 36).

Alvar lists some of the active investing and money saving tips, and also discusses how he manages time and energy.

Show Notes:

https://www.bonkers.ie/

https://www.reddit.com/r/beermoney/

https://www.joinhoney.com

Episode Sponsor - Mintos. Cash back bonus:
https://www.mintos.com/en/l/ref/MINTOSCLUB.2BBCK1

Become a member (free registration)
https://www.firepodcast.ie/register

Ep 47: Money doesn’t grow on trees, or does it?

Ep 47: Money doesn’t grow on trees, or does it?

February 17, 2020

In this episode, Michael talks about how he might just be a bad investor! In the last two years, he has been involved in so many investment scams, that he is now looking at ways to change direction when it comes to investing.

He talks about his own definition of what financial independence is for him and announces his new investment plan going forward - as well as a new business he is establishing.

Show Notes

Link to Forestry Crowd - https://www.forestrycrowd.com

Episode Sponsor - Mintos. Cash back bonus:
https://www.mintos.com/en/l/ref/MINTOSCLUB.2BBCK1

Become a member (free registration)
https://www.firepodcast.ie/register

Ep 46: Bye Bye Envestio

Ep 46: Bye Bye Envestio

February 3, 2020

In this episode, Michael shares the story of the Envestio scam, which he unfortunately got caught up in.

He also shares some feedback from the last episode, and gives his advise on how best one should plan their investment portfolio, based on his experience with Envestio.

Show Notes

Episode Sponsor - Mintos. Cash back bonus:
https://www.mintos.com/en/l/ref/MINTOSCLUB.2BBCK1

Become a member (free registration)
https://www.firepodcast.ie/register

Ep 45: The Day I lost €6,000

Ep 45: The Day I lost €6,000

January 20, 2020

In this episode, Michael shares the story of the day he lost €6,000, caused from being over leveraged in his trading account.

The story details how he reacts to some huge mistakes he made when trading the markets and the lessons that he learned from losing such a large amount of money in a short space of time.

Show Notes

Episode sponsor: Property Bridges - https://bit.ly/2v7rr4j

Become an Irish FIRE Podcast Member at - https://www.firepodcast.ie/register

Ep 44: Time VS Energy

Ep 44: Time VS Energy

January 6, 2020

In this episode, Michael explores the energy that one puts into various tasks - from work, personal projects, investing and life in general. He noticed that while he had cut down his working hours to as little as possible, he still found himself without enough time.

Michael then came to the realisation that it wasn't time he was lacking - but energy. Michael discusses the concept of how one needs to manage their energy as well as their time - as there is only so much energy we have in one day.

Michael also gives an update on how life has been going since moving down to semi retirement hours and his goal for 2020.

Show Notes

Episode Sponsor - Mintos. Cash back bonus:
https://www.mintos.com/en/l/ref/MINTOSCLUB.2BBCK1

Become a member (free registration)
https://www.firepodcast.ie/register

Ep 43: Becoming the Mexican Fisherman

Ep 43: Becoming the Mexican Fisherman

November 25, 2019

Michael makes a big announcement in this episode. Michael has made the decision to start living in a "semi-retired" status. He talks about how the story of "The Mexican Fisherman" inspired him to work towards reducing his working hours as much as possible.

Michael talks about how a couple of his projects which he has been working on are now at a stage where he can step into them more and as a result, is able to cut back on his web development hours and effectively has become semi retired as a result - working around 10 hours per week.

Quotes from the Episode:

"Forever has to start one day. We are so prone to look so far into the distance, we forget we need to make the leap at some point into retirement."

"The FIRE Movement is more of a time independence movement."

Show Notes:

The Mexican Fisherman on the Informed Decisions Podcast:
https://www.informeddecisions.ie/podcast97-the-mexican-fisherman/

Recent article about Michael developing hockey clubs in Munster:
https://www.irishexaminer.com/breakingnews/sport/munster-mission-is-to-grow-hockey-based-on-irelands-success-965845.html

Episode Sponsor - Mintos. Cash back bonus:
https://www.mintos.com/en/l/ref/MINTOSCLUB.2BBCK1

Become a member (free registration)
https://www.firepodcast.ie/register

Ep 42: The Opportunist Butterfly

Ep 42: The Opportunist Butterfly

November 12, 2019

In this episode, Michael explores what can happen when you start to take opportunities, and the long term impact that that has when you start to take opportunities.  He gives examples from his own hockey coaching business, as well as other examples.

Quotes from the episode:

“Probably some of the best things that have ever happened to you in life, happened because you said yes to something. Otherwise things just sort of stay the same.”
Danny Wallace, Yes Man

“The only time you have no opportunities is when you decide to stop taking them.”
Danny Wallace, Yes Man
 

Episode Sponsor: Property Bridges.  Sign up using the following link:
https://www.propertybridges.com/signup/?ref=71e09b1

Become a member:
https://www.firepodcast.ie/register

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