13 episodes

Ryan Hughes, MBA explains personal financial advice and investing topics in an easy-to-understand format. The Solid Financial Advice podcast covers the economy, the stock market, investing, IRAs, retirement planning, income-producing assets, social security strategies, college planning, and more.

Ryan Hughes relies on his experience and education to provide practical wisdom to help individuals achieve financial freedom. He is often joined by various experts to give you the tools to achieve financial freedom.

Learn more and ask Ryan a question here: https://bulloakcapital.com/podcast

Solid Financial Advice Ryan Hughes

    • Investing
    • 5.0, 13 Ratings

Ryan Hughes, MBA explains personal financial advice and investing topics in an easy-to-understand format. The Solid Financial Advice podcast covers the economy, the stock market, investing, IRAs, retirement planning, income-producing assets, social security strategies, college planning, and more.

Ryan Hughes relies on his experience and education to provide practical wisdom to help individuals achieve financial freedom. He is often joined by various experts to give you the tools to achieve financial freedom.

Learn more and ask Ryan a question here: https://bulloakcapital.com/podcast

    Steve Deppe – Market & Economy During COVID-19, Ep 13

    Steve Deppe – Market & Economy During COVID-19, Ep 13

    In this episode of Solid Financial Advice, Steve Deppe joins host Ryan Hughes to discuss his career, day-to-day life, the stock market, and the economy. Steve is the co-founder of Nerad and Deppe Wealth Management. He spends most of his days centered around the thirst for knowledge about managing his clients’ monies as prudently as possible. In his personal life, he’s the father of three kids.
    Outline of This Episode
    – 0:31 – Steve Deppe: Co-Founder of Nerad and Deppe Wealth Management
    – 3:18 – Time Management and Leaving Work at Work
    – 6:00 – Market Outlook and How the Government Policies Impact Recession
    – 15:45 – Long-Term Implications
    – 24:00 – Universal Base Income (UBI) What is it?
    – 30:15 – UBI and the Markets
    – 34:25 – All-time Low-Interest Rates and the Fixed Income Market
    – 40:49 – How far is the Federal Reserve willing to go to manage recessions?
    – 48:15 – Importance and Influence of Personal Behavior
    Market Outlook and How the Government Policies Impact Recession  
    Ryan and Steve discuss the end of an 11-year bull market and the rally we are currently experiencing from the steep drop in March. Steve shared his thoughts on whether or not the worst recession since the Great Depression is over after only a couple of months, and notated that this is the trillion-dollar question. He noted that as any pragmatic person would say, we don’t know, but that the rebound has extended the levels that few thought likely and that resilience is bringing about a change in sentiment. Is this a bear market rally or indeed the start of a new bull market? Ironically, would this be considered a bear market or an unprecedented crash? The market seems to indicate that the recession, while severe and violent, was short-lived, but he has trouble subscribing to that and noted that the reality is that the economy will not be growing near the rate that it was before COVID-19. Ryan and Steve agree that it will be a long time before the economy returns to that type of economic growth.  
     
    Steve noted that to the everyday consumer, the recession might not have even begun, stating that what the government did fiscally with unemployment benefits, lending, and stimulus payments was so powerful that it softened the blow to the everyday person. 
    This has created a scenario where many have income higher than their expenses regardless of if they were affected, and demand has pulled back. This is a sturdy bridge for consumers to the other side in a world free from some of the fears and restrictions currently in place. Ryan noted that coupling this with less spending and increased savings creates from the market participant standpoint is exceptionally bullish. Steve stated that confident consumers with a healthy balance sheet provide the ignition to jump-start the economy and get things rapidly moving. So much of this is psychological; people are tired of being at home and unable to spend money. The possibility of a vaccine or herd immunity is a light at the end of the tunnel and that the market could be correcting to meet the optimistic outlook. The market pricing at the moment may be different from 3 to 6 months from now, depending on the demand and consumer behavior relative to the continuation of unemployment benefits and forbearance programs.
    Long Term Implications So what does the passing of multiple trillion-dollar packages mean? Personally, Steve is not a fan of the moral hazard and precedents this set, and it furthers the lessons learned in 2008. Once upon a time, recessions were considered healthy, but 2008 was so devastating that it changed the guard of what we do with the policy when faced with challenging times. A precedent was set that when the economy contracts, you can tinker with things to impact how the economy moves. If there continues to be support for corporate and c

    • 48 min
    My 11-Yr Old Son Interviews Me, Ep 12

    My 11-Yr Old Son Interviews Me, Ep 12

    Hayden Hughes, the 11-year old son of Ryan Hughes, interviews his father during the COVID-19 quarantine. We begin the episode with Ryan asking Hayden what his experience has been like during the lockdown period and if he thinks at all about finance (the answer is no, of course). Then Hayden flips the script and interviews his father with a list of unscreened questions.
    You are all in for a treat as we get to experience the world through the eyes of a very inquisitive 11-year old boy. Enjoy.
    Outline of this Episode [0:43] Hayden Hughes [1:15] Hayden's Quarantine Experience & Life of an 11-yr old [5:37] Purpose of Financial Advice [7:16] Why Start Bull Oak Capital? [9:05] Why Do Clients Choose To Work With You? [10:18] What Was Your Biggest Business Mistake? [13:36] How Do You Keep Your Clients Happy? Hayden's Quarantine Experience Hayden does not like being in quarantine, but he enjoys his weekly bikes rides with his family to pick up a pizza. He is also an independent studier, so his mother doesn't have to spend too much time helping him with his school work. 
    If Hayden had all of the money in the world, he would cure COVID-19 and save the rest of the money. 
    Purpose of Financial Advice The purpose is to help people make better financial decisions. Some don't need help while others are do-it-yourselfers. Though, the ones that do need help want to make smart financial decisions, they just might not have the time nor the patience to do it on their own. 
    As your financial life becomes more complicated, you need the help of a financial advisor.
    Why Did You Start Your Own Business? I wanted to do my own thing and on my own terms. I enjoy running my own business because I get to help out my clients the way that I think is the right way. 
    Some financial planning firms have major conflicts of interest and I did not want to be a part of this. 
    Why Did Your Clients Decide To Work With You? When a client chooses to work with Bull Oak Capital, they are not necessarily signing up with the firm, they are choosing to work with Ryan Hughes. And what makes me different is that there's only one Ryan Hughes. Nobody can replicate my experience, my education, or my philosophy on the capital markets. 
    I structured Bull Oak Capital to be different from the competition. The way we approach financial planning and our investment philosophy is different. But at the end of the day, my clients are working with Ryan Hughes. 
    What Was Your Biggest Business Mistake? I started my career at Merrill Lynch at their Beverly Hills office in 2007. I was a junior partner on a team that managed over $1B. My daily commute was about 3 hours (1.5 hours each way). During that time period, Hayden was born, which also happened to be during the height of the Great Financial Crisis. At the time, I did not know if Merrill Lynch was going to survive (Bank of America ended up buying the firm in 2008). I also knew that I wanted to be a father that was always there for his children. So, I panicked and left the firm to join Morgan Stanley branch 5 minutes from my home. 
    In the end, I took a major step backward and left a great team. But, the move also prompted me to go to business school (UCLA Anderson), which ultimately allowed me to start this firm. 
    How Do You Keep Your Clients Happy? When clients join this firm, they have certain expectations. My job is not only to meet those expectations but to also exceed them. Whenever a client calls or emails me, they expect a certain level of service. 
    Subscribe to Solid Financial Advice on the platform of your choice

    • 19 min
    How to Navigate Finances in Relationships with Scott Milnes, Ep 11

    How to Navigate Finances in Relationships with Scott Milnes, Ep 11

    Finances in relationships can be a large source of stress and conflict. Developing a budget and deciding where money is or isn’t spent isn’t an easy conversation to navigate. Scott Milnes specializes in helping couples navigate conflict, create the life they’ve imagined, and recovering from divorce. After a divorce at the young age of 29—and dealing with a heart-wrenching breakup years later—he knew something needed to change. Listen to this episode as we discuss how his past influenced his future, financial infidelity, prenuptial agreements, and much more. 
    Outline of This Episode [0:58] Scott Milnes: Founder of The Great Relationship Academy [5:19] Did money play a factor in his failed relationships?  [7:50] Does money amplify problems or is it the problem? [13:51] What resources does Scott provide to his clients? [18:19] Is financial stress higher in younger or older couples? [20:20] A discussion surrounding financial infidelity [23:00] Should you consider a prenuptial agreement? [29:33] How to get back on your feet financially after a divorce [38:55] Wrapping up: solid financial advice to live by [41:49] Connect with Scott Does money amplify the problem—or is it the problem? Before Scott started The Great Relationship Academy, he ran a divorce recovery ministry, “Healing from Heartache”. He found that couples come off the rails in one of two ways: quantity and control. Quantity is as it sounds—the couples perhaps didn’t have a high-enough income to cover expenses and it is a source of friction. However, he found that the larger issue wasn’t how much money was being made, but how it was being controlled. 
    For couples who were in complete agreement with how they managed their money, it didn’t matter how much of it they had. They were on the same page. Some other couples with all the money in the world—but no plan in place to manage their assets—weren’t even in the same book. They had no plan, no control, and while they had the necessary income, it caused unnecessary friction. 
    He notes that regardless of the outcome, “Spouses just want to be included in the ongoing conversation about how we’re controlling these assets”. Keep listening to hear how he helps couples gauge financial compatibility in his academy. 
    Finances in Relationships: proper planning is key It is important—regardless of how much money you make—to align with your spouse/significant other on your budget and your goals. Take some time at the beginning of your relationship or marriage to discuss a general direction you want to take and where your money will be allocated. 
    Something that Scott and his wife do that he highly recommends is having a joint checking account for expenses—think house payment, car payments, groceries, etc. They allocate 50% of their personal net income to a joint account. The other 50% goes into their personal discretionary accounts.
    Scott uses it to pay for his motorcycle, which is his “toy” and not necessarily a necessity. He’ll also use it for nights out with friends or anything where his wife isn’t directly involved. It is a simple yet effective tool that helps you prevent conflict. You each control what’s done with your own money, and have a plan in place to cover expenses together. 
    Should you get a prenuptial agreement?  Anyone getting married for the first time doesn’t want to think about getting a prenup. After all, their marriage will be “forever”. But someone who has never been married doesn’t have the experiential knowledge to make that decision. Scott is all for prenups for a simple reason—it makes divorce an emotional choice, not a financial decision.
    The blunt fact is that 50% of first marriages end in divorce, and the statistics are even worse for second marriages. You cannot be naive about this decision. If you’re young and have no assets

    • 48 min
    Coronavirus - Everything you need to know, Ep #10

    Coronavirus - Everything you need to know, Ep #10

    Everything you need to know about the current state of the coronavirus is here in this episode. This pandemic has dramatically altered everybody's life the past few weeks and there is a lot of misinformation out there. And this misinformation is putting lives at risk.

    On this show, we discussed - How serious is this? How is this outbreak different from previous ones? What should you do if you actually catch it? How far-spread will this pandemic travel? Will this cause a recession?

    • 1 hr 7 min
    Know Your Why - How This Executive Coach Uses His Why to Fuel His Dreams with Darren Reinke

    Know Your Why - How This Executive Coach Uses His Why to Fuel His Dreams with Darren Reinke

    Do you know your why? Consultant, executive coach, and leader of leaders, Darren Reinke, joins me today to discuss money, freedom, and the importance of knowing your why. Darren coaches leaders and helps them become stronger leaders by helping them win in competitive markets. Darren has enjoyed a career that didn’t necessarily end up where he expected. Instead of shooting to the top of a Fortune 500 company, he realized that more than anything, he really wanted time freedom and creative direction. After becoming a freelancer he struck out on his own and hasn’t looked back. Listen in to discover how this executive coach began to control his own destiny.
    Outline of This Episode [1:22] Darren loved his freedom of both time and space [6:34] What is Darren’s earliest memory of money? [12:52] Darren knows his why [15:15] Being his own boss is quite an accomplishment [17:28] Don’t try to follow someone else Darren knows his why Darren Reinke is an executive coach and consultant that realized that time freedom and creative direction were really his ultimate goals. His goals are what funnels everything he does. He has worked at Accenture and he founded Group 60 marketing. He also coaches youth sports and mentors veterans as they transition away from the military. For Darren, working is all about his ‘why.’ He knows that understanding why he wants to do things is not only important for himself but it’s important for his firm as well. 
    In personal finance, it is essential to know your why Darren learned at a young age the value of being frugal. He was influenced by his father and his grandfather who grew up with post-depression era frugality ingrained in his psyche. Darren’s takeaways from this upbringing are to think about the choices that you really value. Once you know that you can cut costs in other places. He uses his values to frame his choices. He also lives in the moment while still saving for the future. Everyone has a hard time finding the right balance between saving and spending, but remembering your values can help you find that balance. 
    What is Darren proud of? Entrepreneurship isn’t the smoothest road. Darren knows that it takes a unique personality to strike out on your own. He sees being his own boss as quite an accomplishment. He feels a sense of pride in starting his own business and in owning a home. Owning a home in California in this day and age is something to really be proud of. Knowing that he has built something out of nothing and the fact that he serves others gives him a real sense of accomplishment.
    Forge your own path What advice does Darren have for others? Don’t try to follow someone else. Everyone has their own choices to make. You can only do what makes sense to you. If you try to follow in someone else’s footsteps you’ll never be happy. Listen to this conversation to hear this inspiring executive coach discuss how he has forged his own path and made a life out of helping others. 
    Connect with Darren Reinke Group 60 Connect With Ryan A. Hughes and Bull Oak Capital www.BullOakCapital.com Podcast (at) BullOakCapital.com
    Subscribe to Solid Financial Advice on the platform of your choice  

    • 20 min
    Your Year-End Financial Planning Checklist

    Your Year-End Financial Planning Checklist

    This year-end financial planning checklist is the perfect tool for ensuring that your habits line up with your financial goals. We’ll cover a range of different areas that you should consider at the end of the year. You’ll want to take this opportunity to maximize your income and minimize your expenses and taxes. Discover what you should be doing on a yearly basis to consider whether your spending aligns with your values by listening to this episode of Solid Financial Advice. 
    Outline of This Episode [2:12] Review your budget [3:28] Examine your credit report [4:25] Review your estate plan [5:30] Review and update insurance [6:45] Conduct a personal tax audit [7:56] Take a look at your 401K and IRA [9:23] Have a peek at your investments [10:15] Can you participate in tax-loss harvesting? [12:40] Calculate your net worth [13:44] Satisfy your required minimum distribution A handy year-end financial planning checklist

    Review your budget - If you don’t have a budget in place, now is the time to create one. Your budget is the foundation of your finances and you need one to be financially successful. The final quarter of the year is the best time to review your budget since you can compare your actual income to your projected income. You can also review trends in expenses and compare them to your financial goals. Do you make a monthly budget? Examine your credit report - Nowadays identity fraud is a real threat. A yearly review of your credit report can help ensure the data’s accuracy. You can check your credit report with all 3 agencies at AnnualCreditReport.com. Remember that your credit score can affect mortgage interest rates and even employment opportunities. Update your estate plan - You should meet with an attorney every 3-5 years to go over your estate plan in-depth, but you should still consider updating your estate plan on your own each year. Think about the events that occurred during the year. Did you get married, divorced, have a new baby? How could these events affect your estate plan? Check your insurance coverage - Everyone has home, life and auto insurance but it’s important to review your insurance periodically to ensure that you have an adequate amount of coverage. This is also a good time to compare prices to ensure you aren’t overpaying. When is the last time you updated your insurance coverage? Conduct a personal tax audit - Examine ways to keep your taxes down by contributing the maximum amount to various retirement accounts. Also, consider whether you are going to take the standard deduction or itemize. Make sure you are maxing out your retirement accounts - Take a look at your 401K’s and IRA’s to make sure you are contributing the most you possibly can. Know how much you can contribute and whether you can contribute to a 403B, 457, or TSP. Also, consider whether you are eligible to contribute to a Roth IRA. Saving towards retirement means that you can defer your taxes.  Have a peek at your investments - If you aren’t familiar with the investment side of things make sure to work with a professional financial advisor. Your long-term positions probably don’t need any changes. But it’s always smart to review the positions and consider if you can simplify.  Can you participate in tax-loss harvesting? Not all investments are winners, but sometimes you can benefit from losers. They can actually help you save in taxes. Tax-loss harvesting allows you to lower your taxes and improve your investment portfolio for the future. You’ll need to avoid the wash sale rule. Listen in to find out what that means Calculate your net worth - this helps you learn how close you are to financial goals. Do you know where you stand? Satisfy your required minimum distribution (RMD) - Make sure you are set up to withdraw the minimum amount needed to satisfy the RMD if you are over the age of 70 ½.  Ma

    • 16 min

Customer Reviews

5.0 out of 5
13 Ratings

13 Ratings

Salesguy23 ,

Great practical advice to growth your wealth!

This podcast is stocked full of easy to understand, practical advice provided in laymen’s terms. Ryan’s style makes for easy listening while I am in the car to help increase my investing knowledge. Worth the time for sure!

PeterSCam ,

Great podcast

This is a great podcast for people looking for real, actionable advice of financial topics we all face. I am looking forward to all the episodes to come!

Nlp1977075 ,

@theothersideofsaved

I feel fortunate because Ryan is my personal financial planner, and his level of professionalism and client care is top notch. This podcast breaks so much down in laymans terms, which is very beneficial. This is stellar for anyone looking to begin building wealth, making big financial changes or simply taking charge of their income.

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