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The Health Savings Account: Navigating Healthcare Costs

WEBOne 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 …

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URL: https://www.bonfirefinancial.com/health-savings-account/

United Employee Benefits: What you need to know

WEBUnited 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 …

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401k Contributions for Pilots

WEBMany United Airline pilots fund their allowable 401k contribution along with receiving the 17% contribution to their 401k from United. The most an employee can contribute to …

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Retirement vs. Inflation

WEBHow 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 …

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10 Mistakes to avoid with your Roth IRA

WEBMistake #10 -Not having a CFP® Manage your investment and tax strategy. There are many nuances to opening and maintaining a Roth IRA. The investments, the tax …

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Taxes in Retirement: Planning Ahead

WEBEstate and Gift Tax Planning for Retirement. Estate and Gift Tax Planning for Retirement is a critical strategy for managing how your assets will be distributed to your heirs while …

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The Power of Catch-Up Contributions

WEBiTunes | Spotify | iHeartRadio | Amazon Music | Castbox . The benefit of aging: Catch-Up Contributions. In the most recent episode of The Field Guide Podcast, Brian Colvert, …

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Bonfire Financial

WEBWe believe that like a bonfire, life should be filled with celebration and memorable experiences. We understand the importance of financial well-being in enabling these …

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The What, Why and How of a Financial Plan

WEBTHE 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 …

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6 important things to do when turning 65

WEB5. Update Estate Planning Documents. The next item on the retirement checklist of important things to do when Turning 65 is to get your estate planning documents and …

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Why you need titling, not just a will

WEBThe Will and Titling. A valid will is extremely important to have because it will give instructions to the court about how your assets will be distributed. When someone dies …

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10 actionable ways to cut taxes now and in the future

WEBFirst, sell an investment that is losing money and underperforming. Next, use that loss to reduce your taxable capital gains and potentially offset up to $3,000 of your ordinary …

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2024 United Pilot Plan Updates: Cash Balance Plan

WEBWhile a 401 (k) is constrained by an annual limit—$69,000 in 2024, for instance—a Cash Balance Plan can theoretically accommodate contributions of up to $300,000 annually. …

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3 Questions to ask before making any financial decision

WEBRetirement 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) …

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Roth 401k or Traditional 401k

WEBThe Bottom Line. If you can stomach the tighter cash flow and you suspect that you may be in a higher tax bracket, the 401k Roth is best for you. If you are tight on cash flow and …

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Insurance Archives

WEB1. Prepare for Medicare . Medicare is the most common form of health care coverage for older Americans. The program has been in existence since 1965 and provides a way for …

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Is Insurance an Investment

WEBIf you do mix investment with insurance, i.e. you ‘invest’ in insurance products like endowment or money-back plans, your returns are bad, and limited at best. Usually less …

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Why Bonfire Financial

WEBWe created Bonfire Financial as a fee-only registered investment advisory firm ( RIA) so that we could be true fiduciaries to our clients. Further, all of our advisors are …

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United Airline Layoffs. What to do if you are laid off.

WEBUnited Airlines announced it will be laying off thousands of employees, estimated to be 36,000 by October 1, 2020. Additionally, United Airlines said the jobs of more than …

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