A bi-weekly newsletter from our Founder & Portfolio Manager, Ryan A. Hughes. Straight talk on markets, taxes, and money. Read by 2,700+ people who value clear thinking.
If California were a country, it would instantly be a global force. It is the largest economy in the U.S. It has the largest military population. It is also a global tech leader in Silicon Valley, and the largest producer of agricultural products in the U.S. As the most productive and one of the most...
Finding a good financial advisor can be daunting. You’re being asked to entrust your entire financial future to this person. Get it right, and it can mean financial freedom for you and your family. Get it wrong, and it can set you back years. The problem is that there are a lot of pretenders out...
Where should you save your next dollar? Should you prioritize an emergency fund or pay off high-interest debt? Max out your 401(k) or fund a Health Savings Account first? These are not trivial questions. The order in which you save and invest your money has a direct impact on your long-term wealth and tax efficiency....
A few weeks ago, when I first wrote about the Iranian War, I discussed the Strait of Hormuz blockade and its potential impact on oil prices and, by extension, inflation. At the time, the Strait had been closed for only a few days. It has now been closed for three weeks, and there is little...
Every year, the IRS and Social Security Administration adjust key financial planning numbers for inflation. These changes affect how much you can save, how much you’ll owe, and how you should be thinking about your money. Here are the most numbers for 2026. Retirement Account Contribution Limits 401(k), 403(b), and 457 Plans The employee deferral...
Stocks are down. Oil is up. Bond yields are up. And most people are just trying to figure out what is actually going on. I thought about a few different approaches for this post. Historical geopolitical conflicts and stock returns. How the new Fed Chairman might navigate this. But I kept coming back to the...
Software stocks have lost $2 trillion in market cap over the past twelve months. Salesforce is down 30%. Workday is down 33%. This selloff has a name: the SaaSpocalypse. Here’s what it means for your portfolio. Let me preface this by saying I am by no means an AI expert. I don’t know how to...
The past few weeks have been quite pivotal for the markets and the global economy. I will talk about the SaaSapocalypse later (the AI revolution is happening in real-time, folks), but today I wanted to talk about the Fed Chair nomination of Kevin Warsh. I think this has a major impact on interest rates, inflation,...
We’re updating this list in 2026 to reflect the ongoing changes in the personal finance landscape here in San Diego. The advisory industry has continued to evolve over the past several years: through consolidation, shifting service models, and changes in how firms structure advice and client relationships. For example, we previously included Dowling & Yahnke...
Last updated: January 2026 Credit cards designed for those who spend significant amounts of money become a gateway to a world of luxury. If your income is high and this type of spending works for you, it’s something to consider as part of your wealth management strategy. Yet, with so many credit card offerings specifically...
The S&P 500 was up 16% last year, despite the many concerns we had this time last year. If you recall, we entered the year concerned about how the market would respond to Trump’s proposed policies (import tariffs, immigration crackdown, a Bitcoin Reserve, etc.). Some of the concerns we had at the time were warranted,...
As stocks continue to march higher, there is little doubt that we are close, if not already in, bubble territory. Of course, there is no definitive metric that tells us whether or not we have crossed that line. But if you look at valuation metrics, they tell quite a story. Just about every major valuation...
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