The Irish FIRE Podcast

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

Where to buy investment trusts:

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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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?

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.

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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:

ISAG Facebook Page:

In this episode, Michael explores an alternative way to becoming financially independent - by building passive income streams.

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.

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:

Michael interviews Dave G, a co-host of the Limerick FI meet up group.

In this episode, Michael mentions how his family embraced frugality and how they were able to reduce their expenses by a significant amount.