Would you like to know about 2 podcasts that have made me a better investor?
I first encountered podcasts in 2013 via a friend’s recommendation. However, I couldn’t bring myself to listen to someone yapping in my ear. Fastforward to 2015, when due to the sheer boredom of driving on the M25 motorway for 4 hours a day, I decided to try listening to something other than music and I DISCOVERED podcasts.
Would you think I was being melodramatic if I told you that I used the word ‘Discovered’ earlier because it felt like I’d found a little gem in my iphone sand. Suddenly all that dead time travelling up and down the motorway became LEARNING time. I sampled many podcasts and also got recommendations from friends and then settled on a few podcasts that appealed to me.
Below, I give a detailed overview of 2 podcasts that I regularly listen to and that have made me a better investor. One of them is investment property focussed and the other is an all rounder for personal finance covering a broad range of topics including understanding your money mindset, saving, tax wrappers, investing in the stock market, pensions, protection in the form of insurance e.tc
Let’s start with some trivia, which you might find interesting
Since the dawn of humanity, the spoken word has been used to exchange ideas and information. Initially, the reach of the spoken word was limited to people in the vicinity of the speaker. Fast forward to the 1890s and two inventors (Nikolai Tesla and Guglielmo Marconi) battled it out to be crowned the inventor of radio and by the 1920s, radios were available for private use. Thus, the reach of the spoken word was no longer constrained to the immediate surroundings.
Talk radio emerged as a radio format for discussing topical issues and could reach very large audiences. Podcast is kind of like the great grandchild of talk radio, but much easier to set up and with much less regulation. Anyone who’s motivated enough can now set up their own podcast and say whatever they want to say.
Why Podcasts?
Like many active investors, I’ve read my fair share of personal finance books and still do read a book or two every now and then. However, as my life has gotten busier, it’s just not possible to read as much as I’d like to read. Audiobooks are a good substitute and many of the things I’m going to write about podcasts also apply to audiobooks.
Podcasts help you to learn on the go
This is an obvious point isn’t it? It’s not easy to multi-task while watching educational TV or YouTube. Yes, you can just have the sound on and not look at the screen. However, more often than not, since the creator of the content has not optimised it for listening only, you will probably not get the full experience and may miss out on some learning opportunities.
Good podcasts are optimised for listening, with show notes for any items that require you to click on something or research something in order to take action. I typically listen to podcasts while driving, running, lifting weights, cooking, washing dishes and ironing. That’s a lot of hours per week getting educated PASSIVELY. What’s more, I’m doing something constructive with time that would normally be ‘dead’ time.
Sometimes, I’ll listen to a podcast episode and hear something interesting and not think much of it, then months or years later, I’ll go through an experience that increases my practical understanding of what had previously just been theoretical head knowledge.
Podcasts are a low-risk test of your commitment
A common question I get asked is ‘how do I get stared with investing?’ or ‘how do I get started in property?’ I often recommend reading/listening to a few books that help with getting the right mindset such as Rich Dad Poor Dad by Robert Kiyosaki and The Richest Man in Babylon by George Clason. I then encourage folks to subscribe to at least one of the two podcasts below: to listen to the back catalogue and to listen to new episodes.
I’m often really surprised when I check-in 3-4 weeks later and find out that they’ve maybe listened to one or two episodes and that’s it. The excuse is often lack of time or that because they don’t have the money to invest yet, they don’t feel the need to listen to the podcasts. Tackling the latter excuse I often remind them that almost all professionals (nurses, lawyers, electricians e.tc) require a period of learning before practical implementation. Similarly, aspiring investors need to give themselves time to learn as much as they can while building their initial pot of money for investment.
Let’s face it – the truth of the matter is that the simple act of routinely listening to these podcasts is a test of your commitment to learning the ‘trade’. If you can’t be bothered to CONSISTENLY listen to podcasts that can improve your knowledge of investing and dramatically reduce the risk of you making a mistake, what makes you think you’re ready to take on investing with real cash?
Take property investment for example. There are so many strategies, ideas, rules and regulations to be aware of before you invest. Rush into it at your own peril; the days of the amateur landlord are over, thanks to the raft of legislative changes brought to the sector in the last 7 years. Why not educate yourself by having a friendly companion in your ear that goes on long walks with you every lunch? Plus you might loose a few pounds or get fitter in the process – making it a double win.
Podcasts keep you fresh
You can never know it all and a major reason why this is the case is that the world never stands still: CHANGE is the norm. Just when you think you’ve mastered all there is to master, something changes. Think PESTEL: Political, Economic, Social, Technological, Environmental or Legal changes that investors need to pro-actively scenario-plan for, stay on top of and adapt to.
Listening to podcasts allows updates to COME TO YOU and keeps you fresh. A couple of friends/work colleagues have asked me how I always seem to know about the latest developments in the field of investment I’m interested in. The answer is that I subscribe to podcasts and other information sources that curate pertinent news and send to me.
Podcasts are a gateway to a likeminded community
Even though we are in the information age and knowledge is just a google search away, investing is still seen by the masses as scary and too risky. You therefore run the risk of being put-off from investing by well meaning friends and relatives who just don’t understand what it’s all about.
You might try to do it all on your own, but in my experience this is not the best approach. The most successful investors I know tend to bounce ideas off each other in a community of like minded people. This could be a group of friends all learning about investing and encouraging each other to grow together. It could be an online community such as a facebook group. The 2 podcasts I’m recommending below all have online communities that are worth joining, particularly if you don’t have a group of close friends learning with you.
There are podcasts for various asset classes
Nowadays I use podcasts as an ‘entry point’ to learn about anything I’m interested in. What specific thing do you want to learn about? Whatever it is, I can almost guarantee that there is a podcast for it. I’ve listened to podcasts on cryptocurrency, dropshipping, blogging, property, shares, serviced accommodation, building development, gold, e.tc
Without further ado, I’ll now present an overview of 2 podcasts that have made me a better investor. These are not ranked in any order. I’m writing about real people and their businesses. Therefore it’s important for me to stress that these are my views and perceptions, but that of course I could be wrong.
The Property Podcast (TPP)
TPP is hosted by two Robs in their mid-late 30s: Rob Dix and Rob Bence. What I love about this podcast is their down to earth, no nonsense style. Some property aficionados would sell you the dream of property investment and make it sound like you could easily become a millionaire overnight – perhaps to get you on to their expensive training course. The Robs on the other hand don’t sugar coat the challenges. Don’t get me wrong – they are 100% pro-property but they believe that through hard work and persistence and by having a long term view, almost anyone can succeed in property.
TPP is a great podcast for learning about the basics of investing in Buy to Let property. Listen to their back catalogue to learn everything from, setting realistic goals to the practical realities of purchasing properties and letting them out. This includes how to find good deals, selecting an area with the right fundamentals, selecting a suitable business structure, getting a mortgage and finding good tenants.
The Robs believe in FREE education and therefore all their content is free and there is no sales pitch. They’ve been fairly consistent from the beginning and demonstrate integrity. Prior to listening to TPP, I was very reluctant to venture outside London and therefore only sought to expand my portfolio in London. However, listening to the Robs (along with a small group of likeminded close friends) gave me the confidence to invest much further afield.
What’s in it for them? It’s a good question. Let’s start with the back story. Rob Bence worked as property investment consultant for developers and then decided to set up his own property sourcing company called RMP (Rescue My Pension). Rob Dix worked in the music industry and then decided to pack up everything and live a Tim Ferris (Four Hour Work Week) style location independent lifestyle, travelling the world. However he carried on with one of his favourite hobbies, which was geeking over property: writing books and articles and interviewing property investors.
The Robs met when one was interviewing the other for a podcast. They subsequently partnered up and over the years, their businesses have evolved into The Property Hub, which is maybe 5-6 property-related businesses in one. TPP is thus a gateway to these other services, but as I mentioned before, they DON’T SELL these other services. Rather, people like me have sought out these services after they’ve won my TRUST via the free podcast. The services include ‘Groupon style’ bulk purchases of new build properties at a discount, a UK-wide online lettings agent, a tax/accountancy service and a 2-monthly magazine. I’ve used and still use all the services apart from the tax/accountancy service.
Of course you don’t have to seek out any of their services. Simply listen to the podcast for free and learn as much as possible.
The Meaningful Money Podcast
MMP is a great all-rounder for personal finance. If there is any podcast that you absolutely must listen to in order to get your finances on track, this is it. MMP covers the A-Z of personal finance and is therefore relevant to ALL adults. TPP mentioned above could be seen as ‘niche’ for people who want to improve their financial situation and potentially retire early (whatever that means to you) by taking massive action. However, even the most ‘can’t be bothered, I trust the government or my employer to take care of me’ type person will still derive some benefit from listening to MMP.
MMP is hosted by Pete Matthew, the son of a preacher and a chartered financial planner from a firm called Jacksons Wealth Management based in Penzance. What I love about Pete’s style is his ability to simplify all manner of jargon used in his industry into everyday plain English and his action oriented content delivery. For every discussion topic, he breaks down what the audience needs to know and what the audience needs to do to move forward in their personal finance journey. He believes that everyone can build a secure financial future by following three simple steps:
Spending less than one earns and clearing debt
Insuring against disaster and
Building up savings and investing wisely.
The topics covered are wide ranging including: budgeting, saving, investing in the stock market, tax wrappers such as ISAs, pensions, inheritance tax and behavioural finance. You also have the benefit of a voice and tone that’s easy on the ear. It can feel very much like a friend talking to you on your way to work or while doing chores around the house.
What’s in it for Pete? I’ve often wondered how and why he’s soldiered it for so many years. He started over 10 years ago, first in video format and then in podcast format, while podcasts were still in their infancy. He has been sponsored by 7 Investment Management for quite some time, but I don’t get the sense that this compensated for the numerous hours. I think he genuinely just wants to help people. In recent years, he has written a book and is now offering paid courses. Of course, people like me have also inquired about financial planning services that his firm can offer.
Conclusion
The Property Podcast and The Meaningful Money Podcast are great podcasts for those starting out on their personal finance journey and also those who are further ahead. I still listen to both of them every week. However, I also listen to other podcasts and these are mentioned below (nb – I’ve only listed those related to personal finance or business).
Please be aware that some of these podcasts do heavily promote the idea of receiving training, particularly property training. Making a decision to sign up to these training courses or not is of course entirely at your discretion. I feel compelled not to gloss over the question of whether one should pay for property training, given some of the stories I’ve heard, including this absolutely sad and heart-breaking real-life occurrence.
So here’s a repeat of something I’ve covered in another article. Should you pay for property training? It is hard to say since unlike say a university degree or professional qualification, I’m not aware of a peer-reviewed or accredited training program. The only option seems to be reviewing the range of heavily promoted (usually online or via social media) self-declared training providers and praying that the one you have selected is the real deal.
Even if the training provider is the real deal, you will need to decide if you’re the type of person that will DEFINITELY take action, BEFORE paying for any training. Only YOU can make this work. No point paying £10,000 for a property training course if you know you’re not prepared to put in the work CONSISTENTLY… day in … day out … come what may.
How I Built This by Guy Raz This is a great podcast for inspirational real life stories of how people have built amazing businesses from scratch. It features the world’s best known companies and is packed with lessons for budding entrepreneurs.
Business Wars from Wondery lifts the lid on competitive rivalries between well-known companies: Tik Tok vs Instagram; Uber vs Lyft; Monster vs Beats by Dre; Coke vs Pepsi e.tc. Lots to learn about the world of business.
Progressive Property Podcast Hosted by Kevin Mcdonnell, a ‘No Money Down’ expert and a mentee of two property training juggernauts: Mark Homer and Rob Moore. If you want to learn about property investment strategies that will blow your mind – this is the place to go. I listen to get a different perspective on property investment.
The Serviced Accommodation Property Podcast Hosted by Kevin Poneskis, also a mentee of Mark Homer and Rob Moore, this podcast provides useful information about one of the hottest property strategies right now – serviced accommodation (aka pseudo hotel)
Entrepreneurs On Fire by John Lee Dumas John has interviewed over 3,000 incredible entrepreneurs, including Tony Robbins, Tim Ferris and Barbara Corcoran. Just today, I listened to an interesting episode featuring John-Paul Iwuoha, discussing emerging opportunities in the African continent.
Money Clinic with Claer Barrett from the Financial Times Good for learning how to deal with a variety of money issues. The recommendations tend to be on the cautious side relative to the other podcasts listed here, which might be what you need when starting out.
The Property Strategist Podcast Hosted by Akin, Kenny and Goke, this podcast is a fun and relaxed way of learning about property investment. It would particularly suit younger people who want a style and voice they can relate to.
Property Investors Podcast Alasdair and Russell (the brother of YouTube property training sensation: Samuel Leeds) discuss interesting property investment strategies in an entertaining manner.
ProBlogger by Darren Rowse I’m not currently monetising this blog but I’m aware that it’s possible to make money blogging. Darren provides advice, tips and step-by step tutorials on how to create and grow a blog.
Happy Learning
Regards
Bemi
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