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.
Episodes
Friday Mar 10, 2023
Friday Mar 10, 2023
In this episode, Michael provides insights into his thinking around how to plan for withdrawals in early retirement. He discusses the challenge of working out whether to pay down current mortgages on investment properties, or continue to buy new properties.
He also provides a work update as he looks to scale back him working hours in 2023.
Show Notes
The Die with Zero Calculator:
https://www.moneyflamingo.com/how-to-die-with-zero/
Case study on Michael on the Money Flamingo Blog:
https://www.moneyflamingo.com/the-many-paths-that-lead-to-fi/
Article on Building Cashflow with Mortgages:
https://www.firepodcast.ie/september-2022-portfolio-update
Subscribe to the monthly newsletter:
https://www.firepodcast.ie/newsletter
Friday Feb 24, 2023
Friday Feb 24, 2023
In this episode, Michael asks the question, is the traditional FIRE movement dead? With so many great FIRE alternatives available now, he considers if the traditional route of work hard and retire is no longer applicable, especially in a post COVID world, where so many other income alternatives are available.
Show Notes:
Read the Money Flamingo Blog Article on the real definition of early retirement:
https://www.moneyflamingo.com/what-does-fire-really-stand-for/
Follow my monthly updates & subscribe to the newsletter:
https://www.firepodcast.ie
Friday Feb 10, 2023
Friday Feb 10, 2023
In this episode Michael talks with Anders Skagerberg, AKA The Coast FI Guy. Coast FI is the concept of building a smallish portfolio and let it compound in the background, while you work part-time and wait until your portfolio grows enough large enough to fully retire.
Quotes from the episode:
"I don't have to do work that I hate for the rest of my life."
"I think some of the most important work I have to do in my life, is to spend time with my kids and be a good Dad."
"Coast FI just means that saving is optional. That doesn't mean that you cannot save money while coasting to financial independence."
"There are no true rules when your designing a custom FI strategy that works for your lifestyle."
Show Notes
What is Coast FI?
https://www.moneyflamingo.com/coast-fi/
Coast FI Calculator:
https://walletburst.com/tools/coast-fire-calc/
Get in Touch with Anders:
Friday Jan 27, 2023
Friday Jan 27, 2023
In this episode, Michael shares his reasons why he has been buying rental properties. He explains that while landlords are currently leaving the property market, he is buying and his reasons for doing so.
Quotes from the episode:
"I think landlords are forgetting that a tenant is paying down a mortgage. Landlords fail to release the difference between cashflow and profit."
"I remember looking at property back in 2013 when property prices were half of what they were today... there were still good deals, there were still bad deals"
"As I see it, I'm not worried about what the property market is doing... what I care about, is can I find a deal I like."
"No one will ever feel rich having a million euro broker account, but buy a few properties and you will feel rich in far more ways than just financially."
Show Notes
https://www.irishtimes.com/property/2023/01/21/landlords-have-their-say-investors-are-not-in-the-game-at-the-moment/
https://www.firepodcast.ie/buying-an-investment-property-with-no-deposit
https://www.firepodcast.ie/my-property-strategy
Subscribe to the monthly newsletter:
https://www.firepodcast.ie/newsletter
Friday Jan 13, 2023
Friday Jan 13, 2023
In this episode, Michael discusses the great myth or lie about the FIRE movement, the notion of early retirement. He mentions that most people that achieve FIRE don't actually retire in the traditional sense and continue bringing in some form of income.
While they might retire from the traditional corporate world, chances are income will still come in one way or another, so we should plan for this when looking at our own early retirement planning.
Show Notes
Living a FI:
https://livingafi.com/2021/03/17/the-2021-early-retirement-update
Mr Money Mustache:
https://www.mrmoneymustache.com/2012/05/14/first-retire-then-get-rich
Madfientist
https://www.madfientist.com/third-year-of-freedom
Mr Money Mustache - Definition of Retired:
https://www.mrmoneymustache.com/2013/02/13/mr-money-mustache-vs-the-internet-retirement-police
1500 Days
https://www.1500days.com/thankful-to-be-thankful
Choose FI Quote:
https://money.com/married-couple-fire-million-financially-independent
Savoteur
https://savoteur.com/are-fire-bloggers-truly-chasing-fire
Money Flamingo
https://www.moneyflamingo.com/the-retirement-lie
Follow my FI Progress:
Friday Dec 30, 2022
Friday Dec 30, 2022
In this episode, Michael talks with Jesse Borst from Money Principles. Jesse is a professional investor and has his own Youtube Channel, where he shares tips on financial freedom, personal finance and covers topics such as generational wealth.
In this interview, Jesse talks about investing in 2022/23, the importance of building an investing strategy and offers great advice on how to think like a professional investor.
Show Notes:
Jesse's Youtube Channel:
https://www.youtube.com/@MoneyPrinciples
Instagram:
https://www.instagram.com/money.principles
TikTok:
https://www.tiktok.com/@money.principles
Subscribe to the Monthly Newsletter:
https://www.firepodcast.ie/newsletter
Friday Dec 16, 2022
Friday Dec 16, 2022
In this episode, Michael discusses how he goes about buying investment property in Ireland. He lists the requirements from the banks, to working with auctioneers, to the in's and out's of putting a property deal together in Ireland.
He highlights the 9 steps he takes when it comes to working through a property deal and shares his experience of buying property in Ireland.
To sign up for the newsletter visit:
https://www.firepodcast.ie/newsletter
Friday Dec 02, 2022
Friday Dec 02, 2022
In this episode, Michael has a conversational style catch up with Alva Damon, who last appeared on the podcast back in early March 2020. We talk everything FIRE from:
- FIRE strategies
- Investing strategies
- Property VS Index Funds
- FIRE alternatives
- Travel Hacking & Travel Tips
- Enjoying the FIRE journey & more.
Show Notes:
Flight Deals: www.kiwi.com
Apply for a European Health Card: https://www2.hse.ie/services/schemes-allowances/ehic/apply/
Subscribe to the newsletter at:
Friday Nov 18, 2022
Friday Nov 18, 2022
In this episode, Michael reflects on his FIRE journey over the last 5 years and lists the top 10 regrets that he has had to date.
From Peer to Peer Lending, too much money in his pension, Forex Trading, Passive Income, Scalable Businesses, having to many companies and more!
Show Notes
Check out the Co-Op I Co-Founded:
https://www.andulra.ie
Company Strike of Services for €200 or so:
https://www.closedforbusiness.ie/strike-off-services
Subscribe to the newsletter:
https://www.firepodcast.ie/newsletter
Saturday Nov 05, 2022
Saturday Nov 05, 2022
In this episode, Michael gives an update on his overall FIRE progress and explains why semi-retirement will likely be the best path for his FIRE journey.
Michael has spent the last 12 months increasing his savings rate considerably and with that, he has been focusing on FIRE shortcuts. However, in 2022 with high inflation, it has made it more and more difficult when it comes to planning for early retirement.
Michael explains why semi-retirement could be the best path for most, especially as it gives a balanced approach to early retirement.
To subscribe to the newsletter, visit:
https://www.firepodcast.ie/newsletter