The Importance of Education – Episode 148

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Today on the Wealth Standard Radio we welcome a very special guest, Andy Tanner. Andy Tanner is an investor who specializes in education. Andy and Patrick talk about the importance of education and the way that it is undervalued and poorly delivered in our society.

Once on a flight Andy happened to be sitting next to a surgeon, who spent the majority of the flight telling him all about his job. After a few hours had gone by and the they were about to land, the surgeon turned to Andy and said “So, what do you do?”. Andy told him that he was an investor who specialized in education. The surgeon said “If you had to tell me, right now, in one sentence, what I should do with my money, what would you say?”. All he didn’t say it aloud, Andy realized that the question was absurd. You wouldn’t ask a surgeon to tell you, in one sentence, how to perform a bypass, because you would know in advance that would be silly. And yet investing and money management has turned into an advice based industry.

The reality is that it takes experience and education to be able to successfully invest your money, and that there are no more short and easy answers with money than there are with medicine! That’s why finding ways to educate ourselves and our families, outside of the mainstream education system, is so important.

Andy and Patrick also discuss the importance of a hands on education that happens outside of a classroom, and how that can prepare us better for the real world. They talk about a number of successful people whose education has been non typical. Finally, they talk about some resources that you can use to educate yourself, including Andy Tanner’s book, 401Kaos.

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