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
Wednesday Mar 24, 2021
Wednesday Mar 24, 2021
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
Saturday Feb 20, 2021
Saturday Feb 20, 2021
In this episode, Michael interviews Sean and Sinead from The Irish Savers Action Group (ISAG) Interview. They are on a mission to promote financial literacy and to push positive progressive changes in the Irish investment tax rates.
You can learn more about ISAG at the following places:
ISAG Website:
https://isag.ie
ISAG Facebook Page:
https://www.facebook.com/groups/255087048882194
Join The Irish FIRE Monthly Newsletter at:
https://www.firepodcast.ie/newsletter
Thursday Jan 28, 2021
Thursday Jan 28, 2021
In this episode, Michael explores an alternative way to becoming financially independent - by building passive income streams.
Michael defines passive income as any income that isn't generated directly to your time (e.g. selling your time for money).
Michael compares some recent passive income that he has started to generate for himself against a traditional FIRE portfolio, to show how passive income can play a vital part towards your FI journey.
Show Notes:
Things mentioned on the show:
Wholesale Directory Website:
https://www.wholesaledirectory.ie
Choose FI - Interview with Mad Fientist:
https://www.choosefi.com/mad-fientist-ep-288
To member a FIRE Podcast member for free (and subscribe to the newsletter), visit:
https://www.firepodcast.ie/register
Saturday Jan 16, 2021
Saturday Jan 16, 2021
In the first episode of 2021, Michael announces that the format of the show for 2021 will change slightly. Michael will answer questions he gets on financial independence from listeners this year - typically answering two or three questions per episode.
Michael gives a quick update on his own financial journey, before answering the following questions in this episode:
1. Should I set up a company to use as a vehicle for my investments?
2. Should I fear market crashes?
3. When it comes to calculating your FI number, how do I handle extra expenses in the future? Does this just mean that FI is pushed out further down the track, or is there another way of dealing with this?
Email me your FIRE questions to [email protected].
Show Notes:
Take a look at the "Irish Savers Action Group" - who are actively talking to TDs to change and encourage tax incentives on savings and investments:
https://www.facebook.com/groups/255087048882194
Become an Irish FIRE Member at:
https://www.firepodcast.ie
Monday Dec 07, 2020
Monday Dec 07, 2020
In this episode, Michael discusses the strategies he has adopted to reduce his tax bill. He explains how he is able to reduce his actual effective personal tax rate to less than 9% living in Ireland (a high tax country).
He also gives an update on his investment portfolio as at December 2020.
Show Notes:
Learn more at:
https://www.firepodcast.ie
Friday Nov 06, 2020
Friday Nov 06, 2020
Michael interviews Dave G, a co-host of the Limerick FI meet up group.
Dave is based in Newcastle West, in Co. Limerick. Dave is originally from the UK and is a PAYE earner. He has a unique FIRE journey is looking to become FI through real estate investing.
During the interview, we talk mindset, investing and how Dave keeps motivated on this FIRE journey.
Show Notes:
Check out Dave's website at:
https://www.firedave.com
Limerick FI Meet Up Group
https://www.meetup.com/financial-indepdence-limerick
Be sure to visit:
https://www.firepodcast.ie
Thursday Oct 22, 2020
Thursday Oct 22, 2020
In this episode, Michael mentions how his family embraced frugality and how they were able to reduce their expenses by a significant amount.
He gives specific examples and leaves the episode with a challenge for you to take with you on how you can start embracing frugality.
Show Notes:
Pete Adeney (Mr. Money Mustache) - Full Talk at WDS 2016
https://www.youtube.com/watch?v=8BDWih309wc
Become an Irish FIRE Podcast member at:
https://www.firepodcast.ie/register
Monday Sep 07, 2020
Monday Sep 07, 2020
In this episode, Michael discusses the sacrifices one needs to make when pursuing financial independence. He relates it back to his own decision and mentions why he realised that his time freedom movement was taking him away from his ultimate goal of becoming FI.
Show Notes
Fire HQ - Online FIRE Event:
https://www.firehq.ie
Mad Fientist - FI Laboratory
https://lab.madfientist.com
Savings Calculator
https://calculator.me/savings
Become an Irish FIRE Podcast member at:
https://www.firepodcast.ie/register
Monday Aug 17, 2020
Monday Aug 17, 2020
In this episode, Michael talks with Ken, who runs the blog "The Humble Penny".
Ken is based in the UK and become financially independence at aged 34. Topics covered in the interview include:
1. How Ken and his family were able to become financially independence within 10 years, through investments, multiple cashflow streams and businesses.
2. How can you use two hours per day to create a dream life.
3. How do you keep your get up and go and learn from your mistakes?
4. How do you deal with fame and finding the courage to put yourself out there?
5. Is your house an asset? Should you pay off your mortgage, or invest?
Show Notes
The Humble Penny - https://thehumblepenny.com
Ken's Youtube Channel - https://www.youtube.com/channel/UCkAPVmQ4JF4ZWKVazSOmGFQ
Gathering Dreams - https://gatheringdreams.com
Financial Joy Academy - https://financialjoyacademy.com
Become an Irish FIRE Podcast member at:
https://www.firepodcast.ie/register
Tuesday Aug 04, 2020
Tuesday Aug 04, 2020
In this episode, Michael provides specific details about how he was able to put a deal together to use equity from his home to purchase an investment property in Ireland.
Show Notes:
The Mortgage Broker:
Hugh Mulcahy - https://www.fcfs.ie/team/hugh-mulcahy/
Become an Irish FIRE Podcast member at:
https://www.firepodcast.ie/register