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/r...
Sep 07, 2020•14 min•Ep. 46
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 ...
Aug 17, 2020•46 min•Ep. 45
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
Aug 04, 2020•15 min•Ep. 44
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...
Jul 27, 2020•48 min•Ep. 43
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!
Jul 14, 2020•8 min•Ep. 57
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...
Jun 23, 2020•13 min•Ep. 41
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.c...
Jun 05, 2020•38 min•Ep. 40
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/
May 25, 2020•12 min•Ep. 39
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 lo...
Apr 28, 2020•40 min•Ep. 37
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-P...
Apr 14, 2020•18 min•Ep. 36
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: ...
Mar 31, 2020•14 min•Ep. 35
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 wa...
Mar 17, 2020•11 min•Ep. 34
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...
Mar 05, 2020•26 min•Ep. 33
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.f...
Feb 17, 2020•15 min•Ep. 32
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
Feb 03, 2020•13 min•Ep. 31
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
Jan 20, 2020•14 min•Ep. 30
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. M...
Jan 06, 2020•12 min•Season 1Ep. 29
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 re...
Nov 25, 2019•12 min•Ep. 28
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 opportunit...
Nov 12, 2019•10 min•Ep. 27
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
Nov 08, 2019•11 min•Ep. 26
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 tal...
Nov 05, 2019•42 min•Ep. 25
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 up...
Nov 01, 2019•13 min•Ep. 24
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 Bl...
Oct 30, 2019•36 min•Ep. 23
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."
Oct 25, 2019•13 min•Ep. 22
In this episode, Michael talks to Alvar Damen. Alvar is a co host of the Financial Independence Europe podcast, is 26 years old and originally from The Netherlands, currently living in Scotland. Alvar talks about how he is trying to archive FI as an employee. He talks about some travel hacks that he has and touches on how important side projects are for him. He gives some examples of various side hustles that one could start. He also talks about his FI number and the types of investments he has ...
Oct 22, 2019•31 min•Ep. 21
In this episode, Michael lists the three potential paths to financial independence in Ireland. He explores a new path which he hasn't considered before, after talking to a person at the Limerick FI Meet Up who had recently retired by pursuing this method. Show Notes Limerick FI Ireland Meet Up Group: https://www.meetup.com/financial-indepdence-limerick/
Oct 18, 2019•11 min•Ep. 20
In this episode, Michael explores the idea that happiness and financial independence is a trade off. He challenges the listener to start living their life as if they were retired, and to start doing the things that they want to do now - rather than waiting until retirement. Show Notes: Mad Fientist Article: https://www.madfientist.com/best-and-worst-about-fi
Oct 11, 2019•14 min•Ep. 19
In this episode, Michael explores a concept known as cruise FI (Coast FI) - where you focus your energy on building a large pension pot which you can then access in retirement. Once you have that retirement saving, you can then relax, knowing that you have the large pension available. Michael crunches the numbers when it comes to putting €500 per month into a pension from the age of 30. He also gives a summary of how he plans to cruise his way to FI through using a pension. Show notes: To view f...
Oct 08, 2019•17 min•Ep. 18
In this episode Michael lists the 7 steps that he followed when he started pursuing financial independence. Michael tackles the "how" to FI, and gives practical steps for you to get started on your own FI journey. Show Notes: Rich Dad Poor Dad: https://amzn.to/2mEsgxG A Simple Path to Wealth: https://amzn.to/2nsaKwX Money Master the Game: https://amzn.to/2o6RIw0 Come and join Michael at an event: https://www.firepodcast.ie/events...
Oct 01, 2019•14 min•Ep. 17
In this episode, Michael talks to Aoife Gaffney, AKA Prudence Money Penny. Aoife is a Certified Behavioural Money Coach (CMC), Accredited Business All Stars Thought Leader, professional speaker and writer and former financial adviser. Michael interviews Aoife about a person's relationship with money, how you can improve your view point with money and just share general tips and advise when it comes to managing money! Quotes from the episode: "The different between an opinion and a pizza, is you ...
Sep 26, 2019•32 min•Ep. 16
