Correct. Yeah. So if your earnings go up in line with inflation but your debt stays the same, then it becomes easier for you to pay that debt off in the future. So it’s great if you’ve got debt. And who’s got more debt than anyone else? The government. We’ll see on the cheerful, you might get . . . there’s sort of two parts. So one is, so for the majority of the time in the past you’d be able to put money in the bank and come out ahead, so inflation would be eroding the purchasing power of your money, be earning as much and more in the bank, so you’d be getting . . . Purchasing real estate is a massive investment of money, time and nerve. Buying can be stressful, renting can be difficult, and selling at the best price requires know-how. So how do you choose the best property investment books to guide you through? My best advice is to:

The capacity to generate future income is the most valuable asset everyone starts life with. As your working life goes on, this future earning power decreases as it’s “used up”. By studying areas of property investing in summary form, or at least at a high level, you can understand the lay of the land and begin to appreciate what topics most deserve your reading energy. Cornerstone Press has acquired The Price of Money, a “guide to getting ahead in a world in financial turmoil,” in a five-way auction. You think it would be nice and it would be for a little bit. But what would happen? Our prices would immediately have to increase. The price of everything would go up because otherwise . . . Read the biography of any successful CEO. You’ll find the majority of them wake up before 5am, and almost all have a daily exercise regime – again, often well into typical “retirement” years.

About The Property Podcast

The definitive Multiple Streams of Property Income is an information-led book, while Anna Clare Harper's Strategic Property Investing contains substantial opinion pieces. Yeah, well, first of all, I choose to rent because I like the flexibility, so I fully do so in London, where rents have gone up a lot. So I fully see that side of things as well. But that’s, also kind of shows why I like property as an investment, because the rents do tend to rise in line with earnings and inflation. So you’ve got an income stream that sort of rises over time. In terms of actually getting into property, though, it’s not something to be taken lightly. As Marketing Director of Property Hub, Rob is responsible for producing outstanding educational resources, then spreading them to inform and inspire as many investors as possible.

Age is generally used as a proxy for earning power: the closer you are to retirement, the less risk you want to take on. Extraordinary Profits from Ordinary Properties: How to Create the Life of Your Dreams with Just Five Properties Your finances are the result of all the value you’ve created, all the discipline you’ve exhibited, all the investment decisions you’ve made. Some people use both ‘property investment’ and ‘property development’ as a broad term that encompasses all types of using houses and flats to make money (rather than as a home).

In situations like this where you don’t have an edge, it’s best to diversify: own a bit of everything, and do well on average. No special knowledge needed. You don’t need even the slightest knowledge of economics to read this book – just a desire to understand why the world of money is working against you, and what to do about it. Rob Dix started investing as a hobby using his spare cash, but soon became obsessed. Over the next 10 years, he would do everything he could to educate himself about the financial world and to pass on what he learnt. However: You must know the purpose of any cash you’re holding, and not let it build up just because you’re too scared to invest it.

Perhaps the most intriguing aspect for a property developer is the promise that with just five properties, or fewer, an investor can deliver a life-changing income so they can give up their job to do what they choose to do. You will learn: No. And it’s been a really big problem even for older colleagues in the FT who hadn’t realised they were being lifestyled and having their pension investments moved more into bonds as they got older. So that’s another tip . . . Actively investing in financial markets is fine if it’s a hobby or passion. The rest of us can give up trying, be happy in our averageness, and go off to do something more fun. Principle #6: Where you have no edge, diversify. Where you do have an edge, focus in. Most certainly there are property investment books that are worth reading, but as mentioned previously, a lot depends on what your own financial ambitions are.OK. Well, to return to the question that we asked at the start of the podcast, money is just a fiction that everyone has chosen to believe in. Now, with all the issues right now, Rob, in the financial system, do you think there will come a point where that faith in the financial system will be shaken or even lost? Whether you want to invest in a buy to let property or begin developing or renovating an old home to rent out, there’s a book to cover every niche question you may have.

This is an audio transcript of the Money Clinic podcast episode: ‘Investment masterclass: ‘Money is basically a fiction’’ To preserve or protect the money you’ve already got (including maintaining its spending power in the face of inflation) Countless economists have cooked up models for running a country’s economy (and won Nobel prizes for them) that they claim will end the boom/bust cycle. Well, yeah, a career. And in broadcasting too. And one thing I ask everyone, Rob, who comes on the show is: what’s your earliest money memory?This thought process is important because insights gained from books will form part of your financial education. The aim is to begin with owning assets and these assets deliver a cash flow to generate money every month. Why do I emphasise the part about leaving you wanting more? Surely the best books on buying property for beginners would cover absolutely everything that can be learned in advance? Markets are the aggregation of millions of individual human actions. Humans act as a herd, and whip each other into bouts of unjustified mania followed by woe-is-us pessimism. No fancy equations can overcome these tendencies. Rob has been investing in property for over 12 years. He started just investing on the side as something to do with his spare cash, but soon became obsessed: in 2012 he started his Property Geek blog as a way of exploring the ideas behind successful investment in more depth.