The Irish FIRE Podcast Michael Houghton

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

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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:
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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

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In this episode Michael discusses the tree phases for FI.  Michael shares how he is currently at a full throttle FIRE stage, where he is looking to maximise his income potential.

In this special two year anniversary episode, Michael interviews Andrew Driver.  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


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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.


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