Michael Houghton is originally from New Zealand and is now settled in Ireland. Join him as he shares his journey of chasing financial freedom in an Irish context.
In this episode Michael discusses the trap between time and money. He mentions that there is no magic number and that what we are ultimately looking for when we aim for financial Independence, is time freedom.
He mentions to start micro managing your FI journey and focus on yearly goals, rather than focusing on the final "big number".
In this episode, I am interviewed by Alvar Damen from the Financial Independence Europe podcast. We discuss various FI topics, from trying to be financially independent in Ireland to trying to be financially independent with kids.
This episode originally appeared on the Financial Independence Europe podcast:
https://financial-independence.eu/podcast/061-enjoying-the-road-to-fi-michael-playing-with-fire/
In this episode, Michael talks with Stephen Somers from Marketplace Super Heroes. Stephen talks about how he built a scalable business selling products on Amazon.
Stephen covers topics such as how it is possible to set up a business selling directly on Amazon and how to go about that process, from finding a product to sell, finding the supplier, to using the Amazon FPA system where Amazon will ship the product on your behalf, including dealing with the customer service and shipping.
Show Notes:
Market Place Super Heros Website:
https://marketplacesuperheroes.com
Youtube:
https://www.youtube.com/channel/UC0vPu0MpUQucAnZukUbtJuw
Stephen's Instagram Account
https://www.instagram.com/stephenjsomers/
In this episode, Michael looks at some of the tax deductions available for corporations. The episode covers expenses which can be claimed for both international listeners, as well as expenses specific to Ireland. He highlights that company owners can take advantages of so many tax reducing methods that are not available for PAYE earners.
Show Notes:
Ireland Revenue Mileage Rates & Civil Servant Rates
Ireland International Civil Servant Rates
In this episode, Michael explores the concept that financial independence is as much about your mindset and enjoying the journey of financial freedom. He suggests that perhaps there is no "pot of gold at the end of the rainbow" and explains why his decision to cut down to part time work was to help enjoy the journey to financial independence.
Show Notes:
Here is a link to the Mexican Fisherman episode by Paddy Delaney which I mention in the episode:
https://www.informeddecisions.ie/podcast97-the-mexican-fisherman/
In this episode, Michael talks with Rob O'Donohue from the 1% Better Podcast. We discuss many aspects of financial independence, but the big take away from the interview is adapting your lifestyle to start living like your financially independent!
The original episode can be found on the Rob of the Green website at:
https://robofthegreen.ie/episodes/michaelhoughton-ep122
In this episode, Michael explores the idea around what the information age means to the new way to earn money and challenges some of the traditional conventions, such as:
He challenges the listener to think about their own career choice to ask is there another way that you could be considering to make money?
In this episode, Michael gives an update on his own personal financial independence journey, from talking about the scalable businesses he is developing, giving an update on his causal work hours experiment and discussing his overall investment portfolio.
In this episode, Michael explains how to increase your income by building scalable businesses.
He gives specific examples by explaining about some of the scalable businesses he is developing and challenges you to see if you could start your own scalable business
To sign up for the Playing with F.I.R.E members area mentioned in the episode, visit: https://www.playingwithfire.ie/register.
In this episode, Michael explores the option of being a contractor or freelancer by invoicing through a corporation. He discusses the various ways of invoicing and how changing to a "value based" billing model had significant advantages to the traditional time billing model. He also discusses the tax advantages of contracting through a corporation VS the traditional PAYE employee model.
