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If you’re looking for trustworthy financial advice, one term you need to understand is: fiduciary financial advisor. It might sound like industry jargon, but it’s one of the most important distinctions in the financial…
Most investors think they understand risk. You win some, you lose some. Right? Not quite. Asymmetric risk is a smarter, more nuanced approach to investing that separates sophisticated investors from the crowd. At its…
Mutual funds are like your sock drawer. You know it’s full of something useful, but you’re never quite sure exactly what’s in there. Occasionally, you find something surprisingly valuable, kind of like that lost…
If you’ve ever found yourself writing a hefty check to the IRS and thinking, “There has to be a better way,” you’re not alone. While taxes are a fact of life, the strategies for…
As a business owner, you’ve likely poured time, energy, and capital into building a company from the ground up. You understand risk, reward, and how to make strategic investments that generate real returns. But…
If you ask most people what the secret to a successful retirement is, you might hear answers like “save early,” “invest in the right stocks,” or “work with a good financial advisor.” All great…
When the market drops, the headlines scream, the talking heads debate, and investors everywhere feel their stomachs drop. It’s natural. Nobody enjoys seeing their portfolio shrink. But instead of letting fear dictate your next…
b For high-net-worth individuals, wealth offers a sense of freedom, security, and choice. But with greater assets comes greater risk. While insurance is often seen as a check-the-box necessity, the truth is that many…
Market downturns can be nerve-wracking. When stocks dip, it’s easy to feel like you should hit pause on any big financial moves. But what if a downturn was actually an opportunity? If you’ve been…
The idea of early retirement is appealing to many, but for physicians, it often feels out of reach. Despite earning high incomes, many doctors struggle to step away from their careers at an earlier…
If you’ve built a successful business and are considering selling, you likely have a lot of questions. What’s my company worth? Is now a good time to sell? How do I structure the deal…
High net worth financial planning is essential for preserving, growing, and strategically managing wealth. While having substantial assets may provide financial security, a well-structured financial plan ensures that your wealth aligns with your long-term…
Making a High Income Is Just the Beginning Earning a high income is an incredible advantage, but it doesn’t automatically mean you’re building real wealth. Many high earners—whether doctors, business owners, executives, or professionals—find…
Nothing says “I love you” like chocolates, flowers, and… updating your beneficiaries? That’s right! While it may not sound as romantic as a candlelit dinner, making sure your assets go to the right people…
Tariffs have been a hot topic in recent years, sparking debates on whether they serve as a powerful economic tool or an unnecessary burden on businesses and consumers. If you’ve been wondering how tariffs…
When people dream about retirement, they often picture traveling the world, spending more time with family, or picking up long-forgotten hobbies. What they don’t envision is the growing cost of healthcare and how it…
Artificial intelligence (AI) has moved beyond the realm of science fiction to become a transformative force reshaping industries, driving innovation, and unlocking investment opportunities. For those looking to position themselves at the forefront of…
When it comes to managing your finances, taxes are often viewed as a chore—a once-a-year task that revolves around gathering documents, filling out forms, and submitting them to the IRS. However, as Max Pollock,…
Want your wealth to stand the test of time? Looking for Estate Planning Tips? Estate planning is one of the most important steps you can take to secure your legacy and protect your loved…
The start of a new year always brings a fresh perspective and an opportunity to refine your financial strategies. For 2025, several key updates to savings limits, tax rules, and financial planning tools are…
Retirement planning often requires balancing income needs with the desire for portfolio growth. One popular strategy for achieving both is investing in dividend paying stocks. These investments offer a unique combination of regular income…
When planning for retirement, the question often arises: Should I buy an annuity? Annuities are often touted as a reliable option for ensuring steady income during retirement, but they come with their own set…
The shift into retirement is one of the most significant life transitions, yet it’s often overlooked as a time of emotional and mental adjustment. Moving from the routine of full-time work to living off…
Optimizing Retirement Accounts Tax Strategies Managing and optimizing your retirement accounts and tax strategies is no small task. As you approach retirement, you may find yourself juggling a variety of accounts—401(k)s, IRAs, brokerage accounts,…
As you get closer to retirement, the financial planning landscape changes. Those final 5-10 years bring new priorities, questions, and a natural desire for clarity. Do I have enough to retire comfortably? Will my…
It’s a rewarding feeling: your child has finished college, launching into the next chapter of life with newfound knowledge and independence. Or, maybe they didn’t, and that’s okay too. Either way, you notice there’s…
Retirement marks a significant life transition, one that requires careful planning and a realistic understanding of what lies ahead. Despite all the guidance and information available, there are still many common retirement mistakes that…
As retirement approaches, the way you manage your 401k becomes more critical than ever. With the right strategies, you can protect your hard-earned savings, minimize risks, and set yourself up for a comfortable retirement….
In the world of financial planning, one term that often comes up is “asset allocation.” Asset allocation is the practice of dividing an investment portfolio across different asset classes to balance risk. Think a…
The FIRE movement (Financial Independence, Retire Early) gained popularity in recent years, especially among millennials and Gen Z. With promises of retiring in your 30s or 40s, the concept seems appealing. Who wouldn’t want…
Mastering Monthly Expenses in Retirement Listen anywhere you stream Podcasts iTunes | Spotify | iHeartRadio | Amazon Music Transitioning from a regular paycheck to living off your savings in retirement can be a daunting experience, regardless of how much wealth…
Homeownership has long been a cornerstone of the American Dream, symbolizing stability, success, and financial security. For many, their home is the most significant asset they’ll ever own. As they approach retirement, the home…
Today we are diving into a question that doesn’t come up as often as it should: How do I personally invest? This is a crucial question that any prospective client should ask. Are you…
Retirement Planning for Self-Employed & 1099 Employees – Listen to the full episode on the Podcast! iTunes | Spotify | iHeartRadio | Amazon Music | Castbox Today we are addressing a critical topic for self-employed business owners, Independent Contractors and 1099 employees:…
If you’re a Southwest pilot, you recently received many needed changes to your benefits package through the Contract 2020. The introduction of the SWAPA Market-Based Cash Balance Plan (MBCBP) has piqued the interest of…
Dollar Cost Averaging – Listen to the full episode on the Podcast! iTunes | Spotify | iHeartRadio | Amazon Music | Castbox Investing can be a daunting task, especially with the myriad of strategies available and the constant fluctuations in the market….
Understanding the Yield Curve: Trends and Implications When it comes to finance and economics, the yield curve is a crucial concept that often garners significant attention. Despite its complexity, understanding the yield curve can…
In the realm of “safe” investments, U.S. Treasuries hold a paramount position. These securities, issued by the federal government, are often considered the gold standard for low-risk investments. Their history dates back to the…
Money Market Accounts and Funds Making informed decisions about where to park your cash is crucial. Whether you’re saving for a short-term goal or looking for a safe place to store funds between investments,…
Certificates of Deposit In the ever-evolving landscape of investment opportunities, some strategies remain steadfast, proving their worth across decades. One such strategy is the use of Certificates of Deposit (CDs). Often overlooked in favor…
In the most recent episode of The Field Guide Podcast host Brian Colvert is joined by Nick Coleman, a CERTIFIED FINANCIAL PLANNER™ with Bonfire Financial. Nick has developed a unique specialty in helping pilots…
A common question, especially during election years, is about the impact of presidential elections on the stock market. Today on The Field Guide Podcast, Brian Colvert, CFP® is addressing this question and looking back…
Today we are diving deeper into alternative investments and looking at real estate investing. In the latest episode of The Field Guide Podcast, Brian Colvert, CFP® is covering crucial aspects of investing in real estate. From…
Unlike other alternative investments, collectibles as an investment offer a unique blend of financial potential and personal passion. Whether you’re drawn to classic cars, fine wines, rare art, or vintage baseball cards, the process…
Exploring Alternative Investments Investing offers a wide range of options to cater to different financial goals and risk tolerances. While traditional investments like stocks, bonds, and cash are well-known, alternative investments often remain less…
One of the most disruptive elements to any well-crafted financial plan is the unpredictable nature of medical expenses. Enter the Health Savings Account (HSA), a powerful tool that can change how you manage and…
The name might sound exclusive or even clandestine, but a Backdoor Roth is simply a powerful financial tool, particularly for high-income individuals seeking tax-savvy savings strategies for retirement. In the most recent episode of…
Do you have a bunch of old retirement plans scattered around? Do you have multiple different IRAs and 401(k)s from past employers? If you are nodding your head yes, then this is for you!…
The benefit of aging: Catch-Up Contributions In the most recent episode of The Field Guide Podcast, Brian Colvert, CFP®, takes a fresh look at aging – not as a decline, but as a time…
Are you contemplating retirement? Are you wondering when you can retire? In the most recent episode of The Field Guide Podcast, Brian Colvert, CFP® of Bonfire Financial, dives into the complexities of retirement planning…
iTunes | Spotify | iHeartRadio | Amazon Music | Castbox Decoding Bitcoin with Gerry Signorelli We often get asked what is Bitcoin all about by our clients, and for good reason. The landscape of…
SMART TAX PLANNING IN RETIREMENT Effective planning for taxes in retirement is paramount for retirees looking to maximize their financial security. Understanding the complexities of how different income sources are taxed can empower you…
The landscape of retirement savings is complex, particularly for United Airlines pilots who face unique choices with their 401k in planning their financial future. The recent introduction of the Market-Based Cash Balance Plan (MBCBP)…
THE ULTIMATE LIFE HACK: THE WHAT, WHY AND HOW OF A FINANCIAL PLAN There seems to be a life hack for everything out there these days. Aluminum foil in the dishwasher for extra shiny…
United Pilot Plan Updates: Understanding the Cash Balance Plan The introduction of the Market Based Cash Balance Plan (MBCBP) has piqued the interest of many United pilots. As a CERTIFIED FINANCIAL PLANNER™, I’ve had…
Bonfire Financial has a Podcast! We are excited to announce that we are launching The Field Guide Podcast! Hosted by the CEO of Bonfire Financial, Brian Colvert, CFP®, each episode will bring you ideas…
Retirement planning isn’t just about saving; it’s about mastering the rules of the game. If you’re a high-flyer working for a major airline, you’ve probably heard about the 401(a) and 415(c) limits – but…
What business owners need to know about Colorado Secure Savings Act In 2020 Colorado passed the Colorado Secure Savings Program. This law mandates that small business owners enroll in a state-run retirement savings…
Roth IRA Mistakes An individual retirement account (IRA), specifically a Roth IRA, is a great option to save for retirement. One of the significant advantages of a Roth IRA is that, while contributions are…
HOW TO CUT TAXES NOW AND IN THE FUTURE If you just wrote a big check to the IRS, you may be wondering how you can prepare now to cut your taxes next…
Turning 65 – A Retirement Checklist Are your turning 65 soon? Turning 65 is a major milestone and pivotal age for your retirement planning. Not only is this an important age for government…
How to protect your retirement from inflation It’s the ultimate battle of good vs evil. Retirement vs. Inflation. Inflation is the arch-enemy of your retirement savings and if you’re near retirement – or…
President Joe Biden hasn’t hidden his desire to raise taxes on corporations and the wealthy. It is his way to fund a multi-trillion infrastructure package and new social programs. Details are likely to change…
The Power of 1% How Small Changes Can Make Big Differences in your Retirement Plan We have all heard that 1% better every day will have a massive effect on your life over…
Let’s talk about credit card rewards. But first, let’s talk about mindset. It takes a different mindset to make money versus saving money. Making money is all about adding value to others while saving…
United Airline Layoffs Economic downturns often hit the airline industry harder than most. Once again, the airline industry has been grounded by the pandemic and the corresponding economic conditions. As such, layoffs are looming….
United Airlines Employee Benefits: Retirement Health Account Working as a United Airline Employee has more benefits than just a 401(k) plan or free flights. United provides a Retirement Health Account that gives you another…
Titling, wills and trusts A will helps determine what happens to your assets after you die. In fact, it may be one of the most important documents you have in your lifetime. However, there…
Roth 401k or Traditional 401k? The 401k plan is the cornerstone of retirement. Gone are the days of big company and school district annual pensions and generous social security benefits. It’s now up…
MONEY SAVINGS SECRETS: AMAZON PRIME Do you love saving money? Do you love Amazon? If you are anything like 50% of the U.S. population, we are guessing you do! A recent statistic showed that…
Whether it is hiring a financial advisor, picking a mutual fund, or refinancing your mortgage it is a good idea to ask a lot of questions when it comes to your money. However,…
10 Books for a Better Money Mindset The list of personal finance and investing books is pretty extensive. This is not that list. While those books can be helpful, many get very technical,…
Is Insurance an Investment? The simple answer is no. You don’t view car insurance as an investment, so why would life insurance be? If insurance is not an investment, why do we have insurance?…
4 Reasons to Hire a CFP ® Managing your finances can be difficult and time-consuming. However, finding someone to handle your finances can be just as challenging. Want a tip to make it easier?…
IRA vs 401k: What’s the Difference: There are some common misconceptions about the difference between an IRA (Individual retirement account) and a 401k plan. While these two are very similar there are some distinct…
HOW DO FINANCIAL ADVISORS GET PAID? Do you ever wonder how financial advisors get paid? If so you are not alone. It has been estimated that more than one in five people who have…
The story behind the name. A BONFIRE IS A FIRE OF CELEBRATION. As I look back on my life some of the best memories and conversations have happened sitting around the fire. I have been…
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Recent Posts
If you’re looking for a low-risk, predictable way to grow your money, investing in CDs (Certificates of Deposit) might be worth a second look. While they might not be the flashiest option in your…
Which to choose? If you’ve ever felt confused about the difference between permanent life insurance and term life insurance, you’re not alone, and today were are here to help you cut through the noise….
