How to F.I.R.E - Financial Independence Retire Early

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In this episode of Ask About Wealth, Paul tackles one of the most misunderstood yet life-changing ideas in finance: the FIRE movement, Financial Independence, Retire Early. With just 3% of Irish people believing they can retire by 55, Paul explores why the majority are stuck in the rat race and how you can break free.

Learn how to calculate your financial freedom number, avoid the traps set by biased financial advice, and understand the real impact of tax and fees on your wealth. This episode offers a clear, actionable roadmap to becoming financially free, even if you’re starting late.

Key Takeaways:

The 5 essential questions you must answer to calculate your “freedom number”
How tax and fees silently erode your wealth, and how to stop it
Why investing through a pension can double your return vs. doing it personally
How starting early (like Alex) can shave 10+ years off your working life
Why most financial advice is biased, and what impartial advice really looks like

00:00 The Retirement Reality in Ireland
01:59 Understanding Financial Independence and FIRE
02:52 Calculating Your Financial Freedom Number
03:44 Case Studies: Frank and Alex
05:16 Investment Strategies for Financial Freedom
06:32 The Importance of Tax Efficiency
09:19 Managing Fees and Charges
13:44 The Path to Financial Freedom
16:37 Final Thoughts and Call to Action

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