Not All Financial Advice Is Created Equal - with Sjoerd Bak

In this episode of The Irish FIRE Podcast, Michael is joined by Karena Duane, founder of Money, Just For Her. Karena has spent more than 25 years working in Irish financial services and now focuses on helping women build greater confidence and understanding around money. They talk about budgeting, spending habits and our relationship with money, as well as the gender pay gap and the longer-term impact this can have on women’s finances. They also discuss money within relationships, including what happens when couples have very different attitudes towards saving and spending, and why these conversations can be so important. Karena also shares the story behind Money, Just For Her, why she created it, and some of the financial challenges women can face at different stages of life. Show Notes: You can find out more about Karena and Money, Just For Her here: https://moneyjustforher.com Subscribe to the Irish FIRE Newsletter: https://www.firepodcast.ie/newsletter This episode has been sponsored by Martina Murphy Solicitor. Legal services with a personal touch.

Sjoerd Bak returns to the Irish FIRE Podcast for a conversation about financial advice and why simply speaking to a financial adviser doesn’t necessarily mean you’re getting the right advice for you. We talk about why not all financial advice is created equal, what consumers should understand before sitting down with an adviser, and the knowledge Sjoerd believes you should build yourself so that you can engage with financial advice in a completely different way. Show Notes: Sjoerd's first interview: https://www.firepodcast.ie/become-a-millionaire-with-sjoerd-bak Connect with Sjoerd on Linked In: https://www.linkedin.com/in/sjoerdbak/ Connect with Sjoerd on Instagram: https://www.instagram.com/sjoerd.bak/ Visit Sjoerd's Website: https://www.bamillionaire.com Sjoerd's founding cohort closes Friday 25 September at midnight: bamillionaire.com/founding50 Book a free clarity call with Sjoerd for one-to-one coaching: go.bamillionaire.com/apply Subscribe to The Irish FIRE Podcast Newsletter: https://www.firepodcast.ie/newsletter This episode has been sponsored by KennCo Insurance. KennCo Underwriting Ltd T/A KennCo Insurance is regulated by The Central Bank of Ireland.

Ireland is planning to introduce a new Personal Investment Account (PIA), designed to make investing easier and encourage more people to move some of their savings out of cash and into investments. On the surface, it sounds like a welcome step, but will it really be as simple as it sounds? In this episode, Michael is joined by Michael Healy, CEO of IG Consumer, to look at the detail behind the proposed PIA. They discuss the possible tax treatment, what investments could be included, how the account might compare with systems in the UK and Sweden, and why Michael is concerned that Ireland could end up creating something far more complicated than investors are expecting. They also discuss what the Government needs to get right if the PIA is genuinely going to encourage more ordinary Irish people to invest and whether this could finally be the beginning of a simpler investment system in Ireland. Show Notes: Learn more about IG: www.ig.com. Subscribe to the Irish FIRE Newsletter: https://www.firepodcast.ie/newsletter This episode is supported by Moneycube, one of the sponsors of the Irish FIRE Podcast. Moneycube is regulated by the Central Bank of Ireland.

Seven years ago, I sat down with Ralph Benson from Moneycube to talk about pensions, investing and financial independence. Exactly seven years later, Ralph joins me again to look back at what's changed - both in my own financial journey and in the wider world of pensions and financial planning. This time around, we talk about my plans for early retirement and some of the questions Ralph typically asks clients when they're trying to work out what they actually want from their money. We also explore the money-time-health triangle, what retirement might actually look like for me, and perhaps most importantly, what Plan B looks like if things don't quite work out as expected. Show notes: The original interview with Ralph: https://www.firepodcast.ie/talking-pensions-with-ralph-benson-from-moneycube Pensions Awareness Week: https://pensionsawarenessweek.ie Check out Moneycube: www.moneycube.ie or email [email protected] Sponsorship disclosure: This episode includes sponsorship from Moneycube, but the interview with Ralph Benson itself was not sponsored or commissioned. I invited Ralph onto the podcast independently and received no payment for interviewing him. I retained full editorial control, including over the questions asked and the final edit, and Moneycube had no approval or influence over the interview or its content.  For more information on how we work with sponsors, please click here. Moneycube is regulated by the Central Bank of Ireland.

In this episode, Michael talks with David Ferns, author of the recently released financial independence book How to Make It. David is based in Dublin, and the conversation covers some of the practical habits and decisions that can make a big difference to your finances over time. We discuss tracking your expenses, automating your finances, gambling and its impact on money, the true cost of car ownership, teaching children about money, and having better financial conversations with your partner. It’s a wide-ranging conversation about building healthier habits around money and making financial independence feel more achievable. Show Notes: Buy the book at: Amazon Ireland (paper back): https://www.amazon.ie/How-Make-Simple-Financial-Independence/dp/B0H2YTJRPH/ Amazon UK (Kindle version): https://www.amazon.co.uk/How-Make-Simple-Financial-Independence-ebook/dp/B0GZGS5JBS/ Subscribe to the Irish FIRE Newsletter: https://www.firepodcast.ie/newsletter This episode has been sponsored by KennCo Insurance. KennCo Underwriting Ltd T/A KennCo Insurance is regulated by The Central Bank of Ireland. This episode has also been sponsored by Moneycube.  Moneycube is regulated by The Central Bank of Ireland.

In this episode Michael shares his thinking behind his decision to step away from full-time work and begin early retirement before turning 43. He reflects on two stories that have stayed with him: Norman, an 80-year-old former WWII fighter pilot who wished he could have five years of his life back, and a MrBeast contestant who turned down $500,000 rather than spend another 100 days away from his family. For Michael, both stories underline the same lesson: there comes a point when more money simply isn't worth trading away more time. After spending much of the summer living a slower, simpler life with his family in West Clare, Michael realised that many of the things that make life enjoyable cost very little - trips to the beach, football in the garden, cooking at home, building a treehouse and simply having time together. With the family investment portfolio now approaching €1 million, he explains the numbers behind his retirement plan, including the proposed sale of their first investment property, drawing income from their rental-property company, and using the money from the property sale to help bridge the years until their longer-term investments and pensions become accessible. After eight years of pursuing financial independence, Michael believes he has finally reached the point where the most valuable thing his money can buy is time. Show Notes: Subscribe to the Irish FIRE Newsletter: https://www.firepodcast.ie/newsletter This episode has been sponsored by KennCo Insurance. KennCo Underwriting Ltd T/A KennCo Insurance is regulated by The Central Bank of Ireland. This episode has also been sponsored by Moneycube.  Moneycube is regulated by The Central Bank of Ireland.

Tom was last on the podcast in early 2024, when he shared his journey of going all in on property as a route towards financial independence. In this episode, Michael catches up with Tom to hear what has changed, how his portfolio and FI plans have progressed, and whether his definition of financial independence has evolved along the way. The conversation then turns to one of the most difficult questions on the FI journey: when is enough, enough? At what point have we built a portfolio that is genuinely sufficient? When should we stop focusing so heavily on accumulating more wealth and start putting more of our time, energy and attention into actually living? Michael and Tom discuss the temptation to keep moving the goalposts, the difference between financial security and endless accumulation, and the importance of understanding what all this wealth-building is ultimately for. Are you building wealth so you can live your best life now - or simply creating a future inheritance tax problem for your children? This is an informal and honest conversation about property, financial independence, defining enough and learning when it might finally be time to take your foot off the accelerator. Show Notes Tom's first podcast episode: https://www.firepodcast.ie/the-gen-z-fire-blue-print Subscribe to the Irish FIRE Newsletter: https://www.firepodcast.ie/newsletter This episode has been sponsored by KennCo Insurance. KennCo Underwriting Ltd T/A KennCo Insurance is regulated by The Central Bank of Ireland. This episode has also been sponsored by Moneycube.  Moneycube is regulated by The Central Bank of Ireland.

In this episode, Michael marks seven years of The Irish FIRE Podcast with a personal update on how his own FIRE journey has progressed and evolved. He shares the latest developments in his property investing strategy, including the purchase of another buy-to-let property in Limerick, the use of refinancing and equity release, and how he thinks about leverage, risk and long-term financial independence. Michael also reflects on what it actually feels like to reach financial independence. Rather than a clean break from work, he talks about the slower transition towards more freedom, seasonal work, taking more time off, and the challenge of deciding what “retirement” really means when you still enjoy the work you do. He also shares an update on the podcast itself, including reaching 400,000 lifetime downloads and welcoming Moneycube as a new podcast sponsor. Finally, Michael explores one of the biggest lessons of the past year: time freedom only matters if you protect it. After taking on a major hockey coaching commitment, he reflects on the impact it had on family life, the importance of learning to say no, and why FIRE is ultimately about creating more space for the things that matter most - family, freedom, calmness and time. Show Notes: Subscribe to the Irish FIRE Newsletter: https://www.firepodcast.ie/newsletter This episode has been sponsored by KennCo Insurance. KennCo Underwriting Ltd T/A KennCo Insurance is regulated by The Central Bank of Ireland. This episode has also been sponsored by Moneycube.  Moneycube is regulated by The Central Bank of Ireland.

In this episode of The Irish FIRE Podcast, Michael speaks with Alan and Katie Donegan, who reached financial independence and retired in 2019. Since then, they have built a life around freedom, travel, creativity and purpose, living as digital nomads while continuing to teach others about money, business and lifestyle design. Michael talks to Alan and Katie about their own journey to financial independence, how they approached saving, investing and building a life that was not dependent on traditional employment. They also discuss what life has looked like after reaching FI, including the realities of early retirement, travelling full-time, and finding meaningful projects after stepping away from conventional work. This episode is a great listen for anyone interested in financial independence, lifestyle design, digital nomadism, or simply hearing from people who have actually reached FI and are living life on their own terms. Show Notes: Alan’s previous interview from 2020: https://www.firepodcast.ie/financial-independence-with-alan-donegan Rebel Finance School: https://rebeldonegans.com/finance/rfs/ Rebel Business School: https://therebelschool.com Subscribe to the Irish FIRE Newsletter: https://www.firepodcast.ie/newsletter This episode has been sponsored by KennCo Insurance. KennCo Underwriting Ltd T/A KennCo Insurance is regulated by The Central Bank of Ireland.

In this episode, Michael sits down with Paul Overy from Ask About Wealth - a highly experienced financial planner with decades in the industry and a growing following across social media and YouTube. Paul shares his journey into financial planning, the lessons he’s learned along the way, and how his approach differs from traditional financial advice in Ireland. With a strong focus on transparency and client-first thinking, Paul explains how a fee-based model can align incentives and lead to better long-term outcomes. The conversation also explores what people are really chasing when it comes to money. While early retirement often grabs the headlines, Paul makes the case that financial freedom - having control over your time and choices - is the goal that truly resonates with most people. Finally, Michael and Paul dive into the often-overlooked topic of estate planning - how to ensure your wealth is passed on efficiently and in line with your wishes, and why this is a critical part of any long-term financial plan. What We Cover: - Paul’s journey into financial planning and building his platform - The difference between financial planners and traditional financial advisors - How fee-based financial planning works (and why it matters) - Financial freedom vs early retirement — what are we really aiming for? - Estate planning: protecting and passing on your wealth Show Notes: Ask About Wealth website: https://askaboutwealth.ie Ask About Wealth on Youtube: https://www.youtube.com/@AskAboutWealth Ask About Wealth on Instagram: https://www.instagram.com/ask.about.wealth Paul's Youtube video on Inheritance tax: https://www.youtube.com/watch?v=3WYamFXk928 Michael's original interview with Paul: https://www.youtube.com/watch?v=Hwo_Z_UswlI&t=2813s Join The Irish FIRE Podcast newsletter: https://www.firepodcast.ie/newsletter This episode has been sponsored by KennCo Insurance. KennCo Underwriting Ltd T/A KennCo Insurance is regulated by The Central Bank of Ireland.