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Cash flow is king

The area of your finances that you’re neglecting the most is your cash flow. You’re in the “accumulation” period of building wealth and your cash flow is the engine fueling this growth. Consequently,...

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Stocks are for the long-run

Do you view owning stocks as a long-term endeavor?If so, following their changes constantly and making investment decisions based on those changes is a very, very bad idea.It’s the worst possible thing you can do because people...

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The truth about renting

Never feel guilty about renting.   People are so focused on monthly payments that they completely ignore the “phantom” costs of ownership.   Here’s a great example I heard recently: “my car payment is...

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Focus on Your Goals

Stop getting in your own way.When markets are good: investors become unsatisfied with their returns so they “reach” for extra return by taking more risk.When markets are bad: investors panic and “reach”...

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Bears go broke

Are you routinely optimistic or pessimistic about investing in the stock market? Those who fall into the latter category will find it much more cumbersome to accumulate wealth. Successful investors do not amass their wealth with...

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Less can be more

More isn’t always the answer – it’s more likely the problem. Everyone thinks the answer to happiness is “more.” Everyone is working for a payoff that will come later instead of living right now, and they are making payments on a...

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Listen Then Speak

Not all financial advisors are created equal. A “true” financial advisor starts by listening, questioning, assessing and then planning. Progress is made. All the others start with their plans, then assess, question and finally...

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Who can I help the most

I decided to specialize, not generalize. It’s so tempting to appeal to the herd, but that isn’t my inspiring vision of success. My vision is to be the go-to financial advisor for attorneys. To be an indispensable partner in the...

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speculating vs. investing

Are you “speculating” or are you “investing”? Speculating = buying cryptos, weed stocks, owning a few tech stocks in a Robinhood account, etc Investing = buying and holding a properly diversified portfolio Be an investor, not a...

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Hoarding

Hoarding your cash in anticipation of a market selloff is a losing strategy. Legendary investor Peter Lynch astutely points out that “more people have lost money waiting for corrections and anticipating corrections than in the...

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Terry Andersen, CFP®

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I’m a CERTIFIED FINANCIAL PLANNER™ who counsels Associate Attorneys nationwide about how to both pay off their student loans in the most cost-effective manner and build wealth faster than their peers.

Tactical Wealth