You may know him as a Rich Dad Advisor or bestselling author, but Cash Flow Diary podcast guest Andy Tanner is so much more. He earns cashflow through trading paper assets, which he walks us through in this educational interview. In fact, he really simplifies things so we can all understand the process better. Before being all he is today as a stock market superhero, Andy was just a college kid attending university on scholarship playing basketball. After college he ended up being a public speaker because he had a good stage presence and proved his value as a pretty super sales guy. Then he was introduced to something different. It was a software that helps people learn about investing in the stock market. Andy didn’t know it at the time, but his path had just found him. Because he loved learning about new technologies and didn't know much about using the Internet in sales… much less the stock market… he had to do a whole lot of research so he could sell the concept of the software. Because he loves teaching others, he was very successful in this endeavor. Andy says that there is no better way to learn than to teach, so that's what he did. He eventually went on to start a few businesses on his own. He says that he failed a few times but just kept swinging until he found the right fit and a business he could succeed in. He says that his amazing drive comes from the desire for more freedom and flexibility in his life, and to spend as much time as he can with his family. Learn how Andy Tanner achieves cashflow and plenty of it in his life today. You'll learn a lot about trading paper assets, which is something you might just want to check out for yourself. If you're looking for a good mentor in this area, be sure to visit Andy's website. Learn more. LISTEN NOW
On this episode of Cash Flow Diary, J interviews Andy Tanner who is one of the Rich Dad advisors and author of 401 (k)aos, and Stock Market Cash Flow. If you want to know more about generating cash flow using paper assets, then you need to listen to this podcast!
03:31 Andy’s origin story
09:26 Summoning courage
13:23 Starting with paper assets
16:20 Ease of access
22:02 Practice on paper
25:53 Apply for a free one-on-one breakthrough session / J’s episode insight
27:30 Generate cash flow using paper assets
32:19 What would Warren Buffett do?
36:28 The wise investor
38:02 Economic risks
41:40 Protecting yourself against risk
44:27 Three attitudes of risk
47:08 Evaluating stocks and equities
53:02 Newbies getting started
59:03 Contacting Andy
Main Questions Asked:
Key Lessons Learned:
Generate Cash Flow Using Paper Assets
Economic Risks and How to Mitigate
1) Systemic – E.g.: When the entire real estate market collapses due to a subprime melt down, or the stock market collapses due of the dot com bubble.
2) Non-systemic – E.g.: BP breaks a pipe in the gulf and stock prices fall from $60 to $30 in a month.
Three Attitudes of Risk
1) Risk Taker – This is the worst thing you can be. These are the people who think they can never get beat.
2) Risk Avoider – A person who is too scared to try anything.
3) Risk Manager – The best-case scenario. This is where all the money is made.
Evaluating Stocks and Equities
1) Fundamental Analysis – Gathering information about the strength of the entity.
2) Technicals – Looking at trends.
3) Cash Flow – Take a Position and decide what you will do with the information.
4) Risk Management – How will you deal with changes?
Advice to Newbie Get Started
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Links to Resources Mentioned
401 (k)aos (book)
Stock Market Cash Flow (book)
Eleven Rings (book)
Learn Investing Now Cash Flow Quadrant
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