The Entrepreneur Experiment EE476: Founder Finance 101: The Simple Money System Founders Actually Need with Diarmuid Corcoran
In this brand-new Masterclass Special, Gary Fox sits down with Diarmuid Corcoran of Chartered Capital to unpack the money questions Irish founders avoid - until it’s too late.
They talk openly about why money can still feel like a “dirty word” in Ireland, why founders can be brilliant at making money but hesitant to manage it, and how wealth often compounds simply because of maths. Diarmuid breaks down the core principles of long-term investing (without the hype), the psychology that causes people to panic at the wrong time, and the practical founder moves that build real security - like taking a salary, using pensions properly, and keeping “fun investing” firmly contained.
If you’ve ever said “I’ll start later,” “I’ll wait for the markets to settle,” or “my business is my pension,” this episode is the reset.
Important note
This episode is education and perspective - not personalised financial advice. Always do your own due diligence and speak to a qualified advisor/accountant for your circumstances.
Show notes
What you’ll learn
Why the “rich get richer” is often compounding in action
Why Ireland has a unique relationship with money (scarcity mindset + property-first thinking)
The hidden risk of “safe” cash: inflation eroding purchasing power
Time in the market vs timing the market (and why “waiting” usually backfires)
The psychology behind bad money decisions: recency bias, fear headlines, and the Dunning–Kruger effect
“Set-and-forget” investing, and why boring usually wins
The founder dilemma: all eggs in the business and no personal de-risking plan
Pensions: why they can be tax-efficient, protective, and misunderstood
The “de-risking” concept approaching retirement (and the 2008 lesson)
A simple way to start investing regularly (and remove emotion from the process)
The “playpen” rule: keeping speculative investing (stocks/crypto/startups) to a small %
Founder mistakes Diarmuid sees constantly:
Not taking a salary early
Not paying a spouse/partner (where relevant)
Being far too cautious in long-term pension funds
Missing employer pension matching
More about Chartered Capital:
Chartered Capital Initial Query Form (https://bit.ly/4a89Mcp) for people who want to get in touch. When people fill this out, Chartered Capital will reach out to them afterwards to arrange a meeting. They also circulate a monthly newsletter that generally only consists only of good news and isn’t ever in any way technical: Newsletter link (https://crafty-innovator-3012.kit.com/57ab7f6ffd)
Link to Blogs on Chartered Capital website (https://charteredcapital.ie/insights/blogs-and-news/)
Chartered Capital Website (https://bit.ly/charcap)
This is a super video on Robert Cialdini’s work for those who don’t have time to read the full book = Science of persuasion - Robert Cialdini (https://youtu.be/cFdCzN7RYbw)
The Financial Planners Ireland website: https://fpireland.ie/
Our Sponsors:
Nostra: https://bit.ly/nostra26
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Chartered Capital: https://bit.ly/49ZuFrk
Book Recommendations
General Psychology = Influence – The Psychology of Persuasion (https://amzn.to/4bB6q4c) by Robert Cialdini and The 48 Laws of Power (https://amzn.to/49XcBON)by Robert Greene.
Running a business = Traction (https://amzn.to/4qgiJGM) and Rocket Fuel (https://amzn.to/3ZdOqWa) by Gino Wickman.
Personal Finance = The Psychology of Money (https://amzn.to/4rosi7w) by Morgan Housel.