Welcome back!
Many of us have heard of FIRE (Financial Independence - Retire Early) but not many of us have met many that are actually doing it! In this episode we chat with Michael to hear his story, how he is working on his own financial independence, and the vehicles he is using to maximise his own financial future.
Michael stresses that his approach works for him, and that everyone should find their own way based on what they feel will work for them, so please don't replicate what he does without determining the risks and the suitability to you first.
Michael's website is here, and we hope you enjoy the interview.
Paddy.
Hi, and welcome to Ireland's #1 Finance Blog & Podcast.
This is a first for Informed Decisions, and this week you get to hear it! We recently got to know Rob O'Donoghue of the Rob Of The Green Podcast. Rob interviews all kinds of really interesting guests, and has over 100 episodes at this stage, he is dedicated to it for sure!
Rob invited me to be a guest on his podcast, and I was happy to oblige. I share the interview with you dear listener, and hope that you get something of value from the conversation we had. We discuss:
All of Rob's podcasts are available here on iTunes and here on his Website.
I hope you enjoy!?
Paddy.
This week I share a short (but hopefully valuable) piece to raise awareness of something that impacts us all and how we make decisions, and often without us even being aware of it!
What Are Biases?
If you were shown a photo of 2 different people, based on their appearance, dress, facial expression, ethnicity, and any number of other visuals, we would have our own 'impression' of that person. In essence, though we might not like to admit it, we have made a judgement about that person based on what we see, but more significantly, based on our biases.
Biases, which we all possess by the way, can cause us to be unintentionally prejudicial, and are formed over decades of experiences, beliefs, perceptions, information and thought. Our biases can have a positive, negative or neutral impact on our experiences and decisions.
Paddy Delaney
This week I share a short (but hopefully valuable) piece to raise awareness of something that impacts us all and how we make decisions, and often without us even being aware of it!
What Are Biases?
If you were shown a photo of 2 different people, based on their appearance, dress, facial expression, ethnicity, and any number of other visuals, we would have our own 'impression' of that person. In essence, though we might not like to admit it, we have made a judgement about that person based on what we see, but more significantly, based on our biases.
Biases, which we all possess by the way, can cause us to be unintentionally prejudicial, and are formed over decades of experiences, beliefs, perceptions, information and thought. Our biases can have a positive, negative or neutral impact on our experiences and decisions.
Paddy Delaney
This week I share a short (but hopefully valuable) piece to raise awareness of something that impacts us all and how we make decisions, and often without us even being aware of it!
What Are Biases?
If you were shown a photo of 2 different people, based on their appearance, dress, facial expression, ethnicity, and any number of other visuals, we would have our own 'impression' of that person. In essence, though we might not like to admit it, we have made a judgement about that person based on what we see, but more significantly, based on our biases.
Biases, which we all possess by the way, can cause us to be unintentionally prejudicial, and are formed over decades of experiences, beliefs, perceptions, information and thought. Our biases can have a positive, negative or neutral impact on our experiences and decisions.
Paddy Delaney
This week we are going to explore two concepts, 'Diversification' and 'Asset Allocation' which can have significant impact on investment success over the long term, and which are shrouded in mystery and often misunderstood. We are going to tell it like it is, share some insights which may surprise you, and give you some food for thought if this applies to you.
What Is Asset Allocation?
This is the term most commonly used to refer to the proportional distribution of an investment portfolio between different assets. The asset allocation of a portfolio will determine how much of that investment will be allocated to two or more different asset classes; the most common being Equities, Bonds, Property, Commodities and Cash. The rationale for allocating across asset classes is founded in the alleged correlation in returns between various assets at different points in the cycles of each. The principle here is that if the portion of your portfolio in 'asset A' is in a temporary decline that your portion in 'asset B' will be on the ascent. I say alleged because there is a lot of conflicting evidence as to whether there is a negative correlation or not. Ultimately this concept aims to deliver consistently positive returns while reducing volatility of the overall portfolio.
Paddy.