The Wealth Fix

Should you listen to Dave Ramsey? Dave Ramsey is one of the biggest names in personal finance? He popularized the debt snowball method and has helped millions of people get out of debt and improve their money habits. When it comes to investing in the stock market, his investment advice should be avoided. He ignores data and relies on investment myths. In this episode, we break down the good and th...

What are the best steps to prepare for the 2023 recession? We break down what you can do to prepare for the next recession. We discuss the importance of an emergency fund, paying off debts, understanding your spending, and continuing to invest and diversify your investments.  Let us guide you in long-term thinking so you can feel prepared with the best steps to prepare for the 2023 recession. Unsu...

What are the best high yield savings accounts? Which banks offer the best high yield savings accounts in 2023? What are the current interest rates of the best high yield savings accounts? In this video, we discuss everything you need to know about the best banks to use for your own high yield savings account, how to get a better cash yield, and how to make your savings work for you. Unsure how to...

We discuss the best way to pay off debt using the debt snowball and debt avalanche methods. From credit card debt to auto loans to student debt, we discuss the best ways to pay off high-interest loans and the fastest way to get out of debt. Ryan A. Hughes and Peter Campbell break down Dave Ramsey's Debt Snowball Method and compare it to the popular Debt Avalanche Method to determine the best w...

TikTok is always a great place to receive terrible financial advice. A trading strategy yielding better results than Warren Buffett? Establish an LLC to save on taxes? Take out a short-term loan to fund an investment property portfolio? We break down all of these videos in our latest Youtube video. Unsure how to create a financial plan? Nervous about how far your savings will go? Want to make your...

The 2023 stock market predictions are here…and they are likely to be completely wrong. Each year, the biggest firms on Wall St. issue their S&P 500 price target, and each year, they are off. For 2022, not one firm was within 10% of the actual price. On average, Wall St. was 23% off target. Does this mean that you should not read these reports? No, these reports are often quite insightful. Thou...

Should you buy stocks and invest during a recession? Is it safe to invest when the unemployment rate is high and the economy is weak? Or should you wait to invest when the economy is stronger and the unemployment rate is low. Waiting until the labor market is strong again may make one feel better about investing, but the data is pretty straightforward; deferring your investments until the storm cl...

It’s often said that cash is king, but why is this? Cash savings is the best investment you can make to protect yourself and reduce financial stress. But how much cash should you hold? Where should you be saving your cash? From treasury bonds and I bonds to the best banks for high yield saving accounts, We cover everything you need to know. Learn how to make the most of your cash in this episode o...

We discuss how tax-loss harvesting can save you on taxes and how it can be used to offset investment gains and personal income. We also discuss what the Wash Sale Rule is and how crypto is exempt from this. Ryan A. Hughes and Peter Campbell also provide an example of how to implement tax-loss harvesting in an investment portfolio and where this strategy shouldn't be used.  Unsure how to create...

TikTok has tons of financial advice so it must be a goldmine, right? Before you decide to take that advice, maybe you should consult with a financial expert. Luckily, the hosts of the Wealth Fix, Ryan A. Hughes & Peter Campbell, are ready to take on TikTok. Just because it sounds like miracle financial advice, doesn’t mean it is. Let Pete & Ryan use their financial knowledge & be your...

Wonder why you never seem to have enough money? Let me ask you this, are you budgeting? 75% of Americans have no budget plan leaving the door open to numerous financial problems. Don’t worry, financial experts Ryan A. Hughes & Peter Campbell are here to provide you with must know budgeting tips. Learn how to budget, budgeting strategies, & the questions you need to ask yourself. If you wan...

What are you doing with your Exchange Traded Funds (ETF)? If your answer is, “what’s an ETF”, financial experts Ryan A. Hughes & Peter Campbell are here to educate you. Today, Ryan & Peter give you your ETF & stock market intervention! The Wealth Fix hosts breakdown what is an ETF, how do they compare to mutual funds, what kind of taxes does an ETF have, & more can’t miss informati...

When will inflation begin to fall? Sooner than you might believe! Financial Experts Ryan Hughes & Peter Campbell dive into 5 factors that influence inflation in the US and what the fallout could be. Will housing prices fall as we enter a recession? Will the supply chain hold? What’s happening with the money supply? You won’t want to miss this episode of The Wealth Fix podcast as Peter & Ry...

It’s the moment you’ve been waiting! Ryan and Peter sit down to answer your burning financial questions! These financial experts take to the Personal Finance subreddit & offer a unique Q&A experience. Traditional IRAs, emergency funds, mortgages, investing and more are broken down by Peter & Ryan as they go through your financial questions!  From the perspective of financial experts th...

The housing market IS going to crash! Not only that but, the housing market is going to see a correction. Average home prices are at an all time high with mortgages sky rocketing. How can you survive in such a versatile market? The Wealth Fix financial experts, Ryan A. Hughes & Peter Campbell, dive into the current state of buying and selling homes & take a look at where the housing market...

As financial planners, The Wealth Fix has received bad money advice over the years. In this episode, we share the worst investment advice ever given to The Wealth Fix. Learn more about our show, The Wealth Fix:https://thewealthfix.com/ Links and resources: https://thewealthfix.com/we-got-bad-money-advice/ Ryan A. Hughes and Peter Campbell are financial professionals at a fiduciary financial adviso...

An HSA (Health Savings Account) is the most tax-efficient account on the planet, even more so than the Traditional IRA and the Roth IRA. Yet, most people do not take advantage of this account. Ryan A. Hughes and Peter Campbell discuss how HSAs work, how to use them optimally for the biggest tax break, and pitfalls to avoid. Links and resources: https://thewealthfix.com/we-explain-how-hsas-work/ Wa...

We think it is safe to say that TikTok's financial advice can be pretty awful. Put all your savings into Bitcoin because it is going to be $1,000,000? Buy an Indexed Universal Life Insurance policy for your 16-day-old baby? Cash Value Life Insurance is "off the radar" of the IRS? Ryan and Peter react to some outrageous and terrible financial advice on TikTok.   Links and resources: h...

For the first time in recorded history, California's population has declined. Perhaps you have moved or are considering moving out of the state. If so, it is extremely important to change your residency correctly to avoid California state income tax. Show note, links, and resources: https://thewealthfix.com/how-to-change-california-residency/ Want to know where your income and net worth stand...

The Federal Reserve is crushing stocks. And bonds. And gold. And just about every other asset class out there. Inflation is raging and the Fed is doing everything it can to bring it under control. We discuss how the Fed accomplishes this and what it means for your portfolio.  Show note, links, and resources: https://thewealthfix.com/the-fed-is-crushing-stocks/ Want to know where your income and ne...

Have you ever wondered where you should be saving your money first? In this episode, we break down where to save your money first to ensure that you maximize each dollar. Show note, links, and resources: https://thewealthfix.com/sequence-of-savings-9-places-to-save-your-money-first/ Want to know where your income and net worth stand compared to others in your age range? Use our free calculator and...