Bonfire Financial

If you’re within five years of retirement, this is not the time to put your plan on autopilot.

Your investment risk, taxes, income strategy and retirement timeline all deserve a closer look.

These five years can shape the next 20 or 30.

$1 million saved does not always mean $1 million available to spend.

Different retirement accounts are taxed differently, and that can have a major impact on your retirement income.
Think beyond the account balance. Think about what you actually get to keep.

The 4% rule is a starting point, not a retirement plan.

Taxes. Healthcare. Spending. Longevity.
There is a lot more to consider before deciding how much you can safely spend in retirement.

How your financial advisor gets paid matters more than most people realize.

Fee-based, fee-only, and commission-based advisors can have very different compensation structures, and those differences can influence the recommendations you receive.

Before hiring an advisor, understand exactly how they’re compensated and where potential conflicts of interest may exist.

Roth 401(k) or Traditional 401(k)? The better choice depends on when you want to pay the taxes.

Traditional 401(k) contributions can lower your taxable income today, while Roth 401(k) contributions are made after tax and may give you tax-free income in retirement.

The key is not choosing one because it sounds better. It’s understanding how your current tax situation and future retirement income fit together.

One advisor or multiple advisors? More isn’t always better.

Having several people involved in your finances can sound like more expertise, but without coordination, it can also mean conflicting advice, duplicated strategies, and important details getting missed.

The goal isn’t necessarily to have more advisors. It’s to have the right expertise working together around one clear financial plan.

Retire earlier or retire later? The answer may come down to how much “enough” really means to you.

A lot of people keep working because they think they need just a little more saved before retirement. But at some point, the bigger question becomes whether another year of work is actually improving your life, or just delaying the life you’ve already worked for.

Retirement planning is about more than hitting a number. It’s about knowing when your plan can support the life you want.

Growth vs. income - your investment strategy should change as your goals change.

When you’re building wealth, growth may be the priority. As retirement gets closer, creating reliable income and protecting what you’ve built becomes increasingly important.

The right portfolio isn’t just about chasing returns. It’s about making sure your investments match the phase of life you’re in.