When FIRE Goes Horribly Wrong

In this episode, Michael celebrates episode 100 of The Irish FIRE Podcast by looking back over the last 7 years of his FIRE journey, and giving his reflections on a year by year basis since he started his journey in 2018. Michael is now only a few months away from hitting FI, and Michael shares his thoughts on both how his journey has panned out, but also what he expects from the future once he reaches FI. Show Notes Subscribe to the monthly newsletter: https://www.firepodcast.ie/newsletter

In this episode, Michael dives into the Playing with FIRE documentary and explores the balance between achieving financial independence and living a fulfilling life in the present. He discusses the Rieckens' journey, the challenges they face, and whether the sacrifices they make are truly aligned with their core mission of spending more time as a family. Show Notes Learn more about An Dúlra Co-Op (planting native forests): https://www.andulra.ie/co-op Youtube "Playing with Fire Full Documentary" to find the Playing with Fire Documentary Mr Money Mustache FIRE video: https://www.youtube.com/watch?v=8-Li_sFNc4Q Join the newsletter and keep in touch with monthly updates: https://www.firepodcast.ie/newsletter

In this episode, Michael explores some of the ideas from Ramit Sethi and his book, podcast and TV program 'I will Teach You To Be Rich' and 'How to Get Rich'. He challenges some of the idea's that Ramit presents when it comes to personal finance, and factors in some of the things which Ramit tends to overlook about the FIRE movement. Show Notes Mad Fientist interview with Ramit: https://www.madfientist.com/ramit-sethi-interview/ Carl & Mindy interview with Ramit: https://www.youtube.com/watch?v=Fm3jlsW7W34 Ramit's website: https://www.iwillteachyoutoberich.com/ Ramit's Netflix show: https://www.netflix.com/title/81410436 Subscribe to the newsletter & following my FIRE progress: https://www.firepodcast.ie/newsletter

In this episode, Michael explains and introduces the philosophy of 'The Simple Life' - a concept that his wife sold him on back in 2010.  It is a philosophy that ensures that his family can maintain a low cost lifestyle, while ensuring maximum happiness and contentment. If you ever wondered how Michael and his family are able to live in Ireland on approximately €40,000 euro per year - then this is the episode for you! Show Notes: Link to the Limerick FI Meet Up Group: https://www.meetup.com/financial-independence-limerick/ A breakdown of Michael's family monthly budget: https://www.firepodcast.ie/monthly-budget.png Subscribe to the monthly newsletter: https://www.firepodcast.ie/newsletter

In this episode, Michael concludes a 3 part series on his FI calculations.  He talks about how the Die with Zero Calculator is actually an improvement on the 4% rule and discusses the art of subtraction once one reaches (or gets close to) FI. Show Notes Link to Die with Zero Calculator: https://www.moneyflamingo.com/free-resources/ Link to my FI calculations: https://www.firepodcast.ie/img/fi-number-calculation.png Link to online meet up on 31st July 2024: https://www.meetup.com/financial-independence-limerick/events/301861738/ Link to Mad Fientist Article: https://www.madfientist.com/happiness-through-subtraction/ Become a subscriber to the monthly newsletter: https://www.firepodcast.ie/newsletter

In this episode, Michael covers the 7 steps to financial independence.  He also gives a personal portfolio update, as well as gives his own definition of financial independence. Show Notes: The Die with Zero Calculator: https://www.moneyflamingo.com/free-resources/ The Money Flamingo Update: https://www.moneyflamingo.com/is-this-still-semi-retirement/ Subscribe to the newsletter: https://www.firepodcast.ie/newsletter

It has been 5 years today since The Irish FIRE Podcast launched - what better way to celebrate with a personal update from Michael, sharing his thoughts on defining enough, as he is looking to adopt early retirement. Show Notes Mad Fientist Bill Perkins Interview: https://www.madfientist.com/bill-perkins-interview/ Join the newsletter for monthly updates: https://www.firepodcast.ie/newsletter

In this episode, Michael continues his conversation with Kel, AKA Mrs Smart Money, who embarked on a "No Spend Year™" in 2019. She reduced her family's expenses by over €27,000, leading her to write a best-selling book, Mindful Money: More Money, More Freedom, More Happiness, became QFA qualified and became a money coach. Since her no spend year, she has harnessed her scientific background to create a powerful coaching formula to help others build the lives they deserve. In part 2, Kel shares details of what happened after her no spend year and how she was able to follow her passion to help more people take control of their finances. Show Notes Learn more about Kel at her website: https://www.mrssmartmoney.com Or you can catch up with her daily insights over on Instagram: https://www.instagram.com/mrssmartmoneyhq Or on Linked In: https://www.linkedin.com/in/kel-galavan-money-mindset-coach/   Subscribe to The Irish Fire Podcast Newsletter: https://www.firepodcast.ie/newsletter    

In this episode, Michael talks with Kel, AKA Mrs Smart Money, who embarked on a "No Spend Year™" in 2019. She reduced her family's expenses by over €27,000, leading her to write a best-selling book, Mindful Money: More Money, More Freedom, More Happiness, became QFA qualified and became a money coach. Since her no spend year, she has harnessed her scientific background to create a powerful coaching formula to help others build the lives they deserve. In part 1, Kel shares details of what led her to adopt the no spend year and how things played out as she embarked on this unconventional path. Show Notes Learn more about Kel at her website: https://www.mrssmartmoney.com Or you can catch up with her daily insights over on Instagram: https://www.instagram.com/mrssmartmoneyhq Subscribe to The Irish Fire Podcast Newsletter: https://www.firepodcast.ie/newsletter

In this episode, Michael takes a close look at intentional money spending.  He explains how becoming good at spending money is a skill and gives examples of good and bad money spending habits. Show Notes Join the newsletter at: https://www.firepodcast.ie/newsletter