The Irish FIRE Podcast

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

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 With so many great FIRE alternatives available now, he considers if the traditional route of work hard and retire is no longer applicable, especially in a post COVID world, where so many other income alternatives are available.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

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: Facebook: https://www.facebook.com/anders.skagerberg LinkedIn: https://www.linkedin.com/in/anders-skagerberg-631089158/ Twitter: https://twitter.com/The_CoastFI_Guy Website: https://www.coastfiguy.com/

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

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: https://www.firepodcast.ie/newsletter

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

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

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: https://www.firepodcast.ie/newsletter

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

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

In this episode, Michael describes daily working life for him. He briefly described what has happened to him work life over the last 12 months or so and explains how he handles getting through the daily grind. He discusses how he views work and how he comes up with early exit strategies in the event that he decides that the daily grid isn't worth it. Show Notes Follow the Newsletter at: https://www.firepodcast.ie/newsletter

In this episode, Michael shares a list of 12 ideas to help reduce expenses. With inflation running at 40 year highs, reducing expenses can be a great way to tackle the impact on inflation. Be sure to subscribe to the Monthly Newsletter to keep up with Michael's latest portfolio updates: https://www.firepodcast.ie/newsletter Show Notes Article on upgrading to a more economic car: https://www.firepodcast.ie/march-2022-portfolio-update Article on Solar Panel Investment: https://www.firepodcast.ie/july-2022-portfolio-update Dolphin Utilities: https://dolphinutilities.com

In this episode, Michael shares his story of buying an investment property in 2022. He shares his high's and low's of activity looking for an investment property in Limerick - and explains what has changed in 2022 when buying a property. Show Notes Join The Irish FIRE Newsletter by visiting: https://www.firepodcast.ie/newsletter

In this episode, Michael talks to the author of the Money Flamingo Blog. Tina is originally from Europe and is now living in Australia. She become "Flamingo FI" in 2020 and has been living a semi retired lifestyle since then. Tina tells her own story, and shares her wisdom of why she adopted Flamingo FI. As she mentions, "the real goal is the happiness that you can achieve along the path [to FI]". Show Notes: Check out Tina's blog at (and join her newsletter): https://www.moneyflamingo.com Coast FI Grid https://www.moneyflamingo.com/coast-fi Join The Irish FIRE newsletter at: https://www.firepodcast.ie/newsletter

In this episode, Michael takes a moment to reflect on the Ukraine War. He mentions that it is hard to discuss personal finance when there is a war going on in Europe. He talks about luck and the impact that that has on one's FIRE journey. He mentions that it has become difficult to try to forecast investment returns over the next number of years and this makes planning for early retirement nearly impossible. He touches on interest rates and the impact this will have on housing, as well as speculates on what might happen in the economy over the next year or two. Show Notes: https://www.youtube.com/thedogecoinmillionaire Sign up for the newsletter: https://www.firepodcast.ie/newsletter

In this episode Michael discusses the three phases for FI. Michael shares how he is currently at a full throttle FIRE stage, where he is looking to maximise his income potential. He mentions that working hard for a full months can be worth it, if it helps you move along quickly in your FI journey, or helps to secure another significant asset, such as an investment property. He mentions concept of the semi-retirement phase, where we look to cut back on making portfolio contributions and enjoy more time freedom. He mentions the concept of Flamingo FIRE. He also discusses strategies in relation to inflation, and strategies to help dealing with high inflation. Show Notes CPI Calculation: https://www.cso.ie/en/interactivezone/visualisationtools/cpiinflationcalculator Flamingo FIRE: https://www.moneyflamingo.com Sign up for the newsletter: https://www.firepodcast.ie/newsletter

In this special two year anniversary episode, Michael interviews Andrew. Andrew has been investing for a number of years and is well on his way to FI. In the interview, we talk about Investment Trusts, which are a great way to get around the horrid Deemed Disposal tax that exists in Ireland. Invest Trusts are taxed at 33% and dividends are taxed at your Income Tax Rate - so they are a tax efficient way to invest in Ireland. Disclaimer: This interview is not financial advise - please take opinions on the interview for education purposes only. Show Notes: https://www.itinvestor.co.uk https://money-makers.co/money-maker-podcasts https://www.theaic.co.uk https://www.amazon.co.uk/Financial-Times-Guide-Investment-Trusts/dp/1292232544 Where to buy investment trusts: https://www.interactivebrokers.ie https://www.degiro.ie Come and Meet Andrew at the Next Limerick Meet up Group - https://www.meetup.com/financial-indepdence-limerick Subscribe to the newsletter to stay in touch with regular monthly updates: https://www.firepodcast.ie/members

In this episode, Michael discusses The Barista FIRE Approach - the concept of building a small portfolio and letting compounding grow the portfolio while not withdrawing from the portfolio until when you retire. Barista FIRE is a great approach to FIRE in Ireland, as its an extremely tax efficient way to approach early retirement, and still allows for an early retirement age of 55. Subscribe to the newsletter to stay in touch with regular monthly updates: https://www.firepodcast.ie/members

In this episode, Michael discusses the options around what he invests in 2021 and provides an update on how his investments has changed over the last 3 years. He answers questions such as: - Do I still invest in Peer to Peer Lending? - What is the best way to save for my children's college fund? - What is the most tax efficient way to invest as a sole trader? - Why do I say that Cryptocurrency looks like a better investment than ETFs in Ireland? To keep up to date with Michael's journey, subscribe to the monthly newsletter at: https://www.firepodcast.ie/members

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

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

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

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

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

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

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

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

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

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

In this episode, Michael talks with Gavin J Gallagher about property. Gavin owns and operates the East Point Business Park in Dublin, but has also worked on hundreds of property deals over the last 25 years. Quotes from the Episode: "If you go into it blind, you can lose your shirt in this [property] business"... "I wouldn't rush into this with your eyes closed." "Be the Dealmaker." "This [property] is a team business." "The first deal is the best you will do, because of the tight learning curve." Show Notes: Gavin's Website: https://gavinjgallagher.com Gavin's Podcast (Behind the Facade): https://podtail.com/en/podcast/behind-the-facade/ Subscribe to the Newsletter: https://www.firepodcast.ie/newsletter

In this episode, Michael shares his recent experiences (in story telling format) of some of his failed investments and ventures and the outcomes and downsides from dealing with the consequences. He explains how he over-engineered financial independence and how while he initially freed up time by working part time, that free time was quickly taken away by over committing to too many ventures. The episode provides some good advise - hopefully you can learn from his mistakes!

In this episode, Michael reflects on how financial independence ties into success and how wealth is only 25% of deemed success. Michael discusses why one needs to target all four pillars of success to find true happiness and reflects on his own story about how he is applying the four pillars. Show Notes: Show Notes: For more information about the An Dúlra Co-Op: https://www.andulra.ie Subscribe to the newsletter: https://www.firepodcast.ie/newsletter

In this special first anniversary episode, Michael talks with Alan Donegan, a 41 year old entrepreneur from the UK, who became financially independent 18 months ago. Alan runs the Pop Up Business School and has helped teach thousands of people how to get started in the business world. This is a raw, honest interview with Alan, where he explains how he was able to become financially independent and what life is like for him now. Show Notes: Tony Robbins - Notes from a Friend: https://www.amazon.co.uk/dp/074340937X/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1#ace-g1653177716 JL Collins - A Simple Path of Wealth https://www.amazon.co.uk/Simple-Path-Wealth-financial-independence/dp/1533667926/ref=sr_1_1?crid=1AW50L0NBSZG2&dchild=1&keywords=jl+collins+simple+path+to+wealth&qid=1591262032&s=books&sprefix=jl+collins%2Cstripbooks%2C139&sr=1-1 Quit like a Millionaire https://www.amazon.co.uk/Quit-Like-Millionaire-Gimmicks-Required/dp/0525538690/ref=sr_1_1?crid=NA1CUG0DQBOA&dchild=1&keywords=quit+like+a+millionaire&qid=1591262055&s=books&sprefix=quit+like+a+%2Cstripbooks%2C147&sr=1-1 Alan's Blog https://www.alandonegan.com/ Pop up Business School https://www.popupbusinessschool.co.uk/ Listen to more of Alan's podcast - The Rebel Entrepreneur Podcast https://podcasts.apple.com/ie/podcast/rebel-entrepreneur/id1506404790 Subscribe to the newsletter: https://www.firepodcast.ie/newsletter

In this episode, Michael reveals his realisations of 2020 and the changes he has made in response to learning from COVID 19. Apologies again for the sound quality on this episode, will have it fixed for the next episode. Show Notes: Mortgage Broker - Get in touch with Hugh First Choice Financial Services https://www.fcfs.ie/

In this episode, Michael talks with former Irish Rugby International Jamie Heaslip. Jamie provides insights into what hes doing after rugby, but we also talk about the processing of success when playing rugby. Jamie talks about how he manages his investments, knowing that his rugby career was going to finish in his 30s. He talks about how he looks to create wealth, through investing in assets We talk about how Jamie is dealing with the COVID 19 crisis, based on how he dealt with the highs and lows on the rugby field. We talk about the process of beating the All Blacks in 2016 - and how the Irish were able to work backwards to work out a plan to beat the All Blacks. We talk about what success means to Jamie and how he goes about the process of achieving success. We talk about his involvement with Flender and how he sees the future of the P2P Industry in Ireland and the future of Flender. Quotes from the episode: "To create financial wealth, you need to own something" "Don't stick your head in the sand.... address things straight on." "Hard work beats talent a lot of the times" "People are very quick to pass over wins.... you need to get comfortable not being able to control everything" Follow Jamie on social media: https://twitter.com/jamieheaslip https://www.instagram.com/jamieheaslip Sign up to Flender & Get behind Irish Business: https://bit.ly/2xgAVeR

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

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

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!

In this episode, Michael chats with Alvar Damon, who provides a follow up interview after appearing on the podcast in 2019. 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 Subscribe to the newsletter https://www.firepodcast.ie/newsletter

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 organisation he is establishing. Show Notes Link to An Dulra - https://www.andulra.ie Subscribe to the newsletter https://www.firepodcast.ie/newsletter

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 Subscribe to the newsletter https://www.firepodcast.ie/newsletter

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 Subscribe to the newsletter: https://www.firepodcast.ie/newsletter

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 Subscribe to the newsletter https://www.firepodcast.ie/newsletter

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 Subscribe to the newsletter https://www.firepodcast.ie/newsletter

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

In this episode, Michael lists the common errors he sees when it comes to starting a business. He lists some of the common errors, and then gives his advise on how to start a business quickly and more effectively. He gives his own examples of how he has been able to start projects quickly. Show Notes Subscribe to the newsletter https://www.firepodcast.ie/newsletter

In this episode, Michael talks with Robert White. Robert is in his 30's and he and his wife Emma became financially independence in 2015. Robert is from Romania originally, but worked in Germany for a few years on his path to FI. In the interview, we talk about how Robert & Emma were able to become financially independent, we talk about how he was able to start side hustles and earn extra income. Robert gives away his secret to how he was able to launch so many side businesses so quickly. We talk in the interview about what Robert is doing now - and how life is different to him now since he became financially independent. Show Notes: Robert White Facebook Page: https://www.facebook.com/mrwwlcb Contact Robert at: [email protected] Checkout FIRE Hub: https://firehub.eu/ Facebook page: https://www.facebook.com/firehub.eu/ Facebook Group: https://www.facebook.com/groups/fire.europe/ Subscribe to the newsletter at: https://www.firepodcast.ie/newsletterhttps://www.firepodcast.ie/newsletter

In this episode Michael looks at some of the lessons that Robert Kiyosaki teaches and compares them against the FI movement. For example, Robert says: "Saving is for losers." "The sharemarket is nothing but a ponzi scheme." "Debt is good if its good debt." Michael explores this against what others in the FI community say, and then gives his own story about what he is trying to do based on Robert Kiyosaki's advise. Show Notes: Link to purchase Rich Dad Poor Dad: https://amzn.to/3225dLK Link to updated portfolio: https://www.firepodcast.ie/portfolio Subscribe to the newsletter https://www.firepodcast.ie/newsletter

In this episode, Michael talks with Meagan from Mrs Money Hacker. Meagan covers loads of great information, including: - Her own background and how she is potentially 5 years away from FI. - How her family is dealing with FI with a new baby and how she is reducing her expenses with a family. - The environment and FI. How Meagan tries to reduce her carbon footprint while saving money! - Being an employee VS being a contractor - and the advantages and disadvantages of both. Show Notes: Meagan's Blog: https://mrsmoneyhacker.com/ Cork FI Meet up: https://www.meetup.com/Financial-Independence-Ireland-Cork Quit like a Millionaire Book: https://amzn.to/2PzeWXk Events: https://www.firepodcast.ie/events

In this episode, Michael provides feedback from what he learnt at the Madrid FIRE 2019 conference. Quotes from the episode: "Financial Independence isn't about money. Money is a tool to give you freedom with your time." "Financial Independence is about spending all your money!" "The best thing I can be doing for my kids, is not leaving them my money... but teaching them how to become financially independent."