The Irish FIRE Podcast

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 hello@moneycube.ie

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.