The Field Guide: Simplify, Navigate and Elevate Your Financial Life
You are at the heart of the story behind Bonfire Financial. We believe that like a bonfire, life should be filled with celebration and memorable experiences. Money is often the way to get there, and that is what the Filed Guide Podcast is about, helping you find creative solutions to balance living for today and saving for tomorrow. Hosted by the CEO of Bonfire Financial, Brian Colvert, CFP®, each episode will bring you ideas to simplify, navigate and elevate your financial life.
Episodes
Let’s kick off 2025 with the financial updates you need to know. From higher contribution limits for 401(k)s, IRAs, and HSAs to new tax rules and expanded catch-up opportunities, we’ll cover what’s changing and how it impacts you. We’ll also share practical strategies to make the most of these updates, prepare for potential tax law shifts, and position yourself for financial success this year. Consider it your guide to starting 202...
In this episode of The Field Guide, we explore how real estate can play a crucial role in building income during retirement. From REITs to outright ownership, we break down the pros, cons, and key considerations for each type of real estate investment. Whether you're looking for a hands-off approach or eager to dive into managing properties, this episode will help you understand your options and make informed decisions.
Full show n...
Curious about boosting your retirement income while staying invested? In this episode we reveal how dividend-paying stocks can provide steady income, potential growth, and portfolio stability. Discover the pros, the pitfalls, and insider tips to make these stocks work for you.
Full show notes: https://www.bonfirefinancial.com/dividend-paying-stocks/
To learn more about Bonfire Financial, please visit: https://www.bonfirefinancial....
In this episode, we dive deep into the world of annuities – exploring the good, the bad, and the ugly. Are annuities a safe haven for your retirement or a costly mistake in disguise? We'll break down the different types of annuities, their pros and cons, and help you understand when (and if) they make sense for you.
Full show notes: https://www.bonfirefinancial.com/should-i-buy-an-annuity/
Navigating the Mental Shift into RetirementFrom moving off a paycheck to living off assets, today Brian is discussing his insights on overcoming common mental blocks, easing into this new phase, and maintaining financial flexibility. Whether you're nearing retirement or supporting someone through it, this episode offers valuable advice for navigating the transition confidently.
Full show notes: https://www.bonfirefinancial.com/shif...
Managing multiple accounts as you approach retirement can feel overwhelming. In this episode, we explore how taking a "big picture" approach to your 401(k), IRAs, brokerage accounts, and more can help you maximize tax efficiency and optimize growth.
Full show notes: https://www.bonfirefinancial.com/optimizing-retirement-accounts/
To learn more about Bonfire Financial, please visit: https://www.bonfirefinancial.com
Disclosure: htt...
As retirement approaches, the big question looms: are you financially ready to make the leap? In this episode of The Field Guide, we break down some critical steps for those 5 to 10 years away from retirement.
Full show notes: https://www.bonfirefinancial.com/5-10-years-retirement/
To learn more about Bonfire Financial, please visit: https://www.bonfirefinancial.com
Disclosure: https://www.bonfirefinancial.com/disclosure/
College is over, but there’s money left in your 529 plan. Now what? In this episode of The Field Guide, Brian explores smart ways to put those leftover funds to good use, from rolling them into a Roth IRA to covering other educational expenses—all while avoiding penalties and maximizing value. Tune in to learn the best options for your excess 529 savings!
Full show notes: https://www.bonfirefinancial.com/unused-529-plan-funds/
Retirement is closer than you think—are you prepared? Discover the three most common mistakes pre-retirees make and learn how to avoid them.
Full show notes: https://www.bonfirefinancial.com/retirement-mistakes/
To learn more about Bonfire Financial, please visit: https://www.bonfirefinancial.com
Are you nearing retirement and wondering how to make the most of your 401k? In this episode, Brian dives into the essential do's and don'ts to ensure your retirement savings are on track. We’ll discuss why your risk tolerance should evolve as retirement approaches, the importance of regular rebalancing, and how to avoid common mistakes that could cost you in the long run.
Full show notes: https://www.bonfirefinancial.com/401k-retir...
Asset allocation is a foundational concept that plays a crucial role in designing investment portfolios. While it may sound straightforward, the reality is far more nuanced. It is truly more of an art than a science. Tune in to hear practical insights on building a strategy that fits your unique financial goals.
Full show notes: https://www.bonfirefinancial.com/asset-allocation/
The popular FIRE Movement (Financial Independence, Retire Early) philosophy of extreme frugality and postponing life’s pleasures isn’t the key to true financial freedom. In this episode, we are providing insights on how to achieve a balanced approach to financial independence that allows you to enjoy life now, without sacrificing your future.
Full show notes: https://www.bonfirefinancial.com/fire-movement
Today we are exploring how shifting your focus to monthly expenses can make the transition from a paycheck to living off your savings smoother and less stressful. Learn practical strategies to maintain your lifestyle and financial security by mirroring the familiar income patterns you've relied on throughout your working life.
Full show notes: https://www.bonfirefinancial.com/expenses-in-retirement
In this episode of The Field Guide, we dive into the recent updates to inherited IRA rules and their impact on beneficiaries. Whether you're a spouse or a non-spouse inheritor, understanding these changes is crucial for making informed financial decisions. Join us as we break down the key points and offer guidance on navigating the new landscape with confidence.
To learn more about Bonfire Financial, please visit: https://ww...
Today we are exploring the ins and outs of RMDs, helping you understand what they are, when they kick in, and how they impact your retirement planning. Tune in to learn strategies to manage your RMDs effectively and minimize the tax burden, ensuring your hard-earned savings last as long as you do.
To learn more about Bonfire Financial, please visit: https://www.bonfirefinancial.com
Disclosure: https://www.bonfirefinancial.com/di...
While having a paid-off home is a significant milestone, relying on home equity as a primary retirement asset may not be the best strategy. From the pitfalls of reverse mortgages to the challenges of downsizing, we are breaking down the options and offering practical advice on how to approach homeownership as part of a broader financial plan. Tune in to gain insights on why your home's equity should be viewed as a part of your ...
Explore the importance of keeping your beneficiary designations up to date, ensuring your accounts reflect your current wishes. Whether you've experienced life changes or just haven't checked in a while, this episode will guide you through the essential steps to make sure your assets go exactly where you want them to.
To learn more about Bonfire Financial, please visit: https://www.bonfirefinancial.com
Disclosure: h...
Discover why insurance isn't the investment you think it is. Uncover the truth about common misconceptions and learn how to make smarter financial decisions to protect and grow your wealth.
Detailed notes: https://www.bonfirefinancial.com/insurance-is-not-an-investment/
To learn more about Bonfire Financial, please visit: https://www.bonfirefinancial.com
Disclosure: https://www.bonfirefinancial.com/disclosure/
Have you ever wondered what is inside your CFP's portfolio? Today we are pulling the curtain back into the personal investment strategies of our founder and CEO, Brian Colvert, CFP® Join us as he shares his insights on balancing risk, asset allocation, and the importance of having a diversified portfolio, while also exploring innovative investment opportunities and the principles guiding his financial decisions.
Today we are addressing a critical topic for self-employed business owners and 1099 employees: retirement planning without a company-sponsored plan. In the absence of traditional employer benefits, it's essential to take proactive steps. We'll explore various retirement strategies tailored for those who must self-manage their retirement savings, including Solo 401(k)s, SEP IRAs, and other investment options.
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