Firefighter Financial Advisor

05/04/2026

Having money means having risk and you get to choose what kind.

- Taking too little risk can be just as detrimental as taking too much risk

- It's important to recognize when you face what Morgan Housel calls "asymmetric risk" (low downside with high potential for return) or "ruinous risk" (high downside with low potential for return)

- They key is aligning risk and potential return with your specific financial plan

02/24/2026

If you ask the average firefighter what their greatest expense is, they would say it's their mortgage or their children's tuition - but both are likely wrong.

Taxes are the #1 expense for most firefighters, especially retirees who have done a good job saving.

This problem gets worse when Required Minimum Distributions (RMDs) begin in their 70’s.

RMDs are when Uncle Sam says, “You’ve been deferring taxes long enough, it’s time to take distributions from your retirement accounts whether you need the money or not.” Withdrawals on tax deferred retirement accounts = more taxable income.

This problem compounds further when the first spouse passes away and the surviving spouse must file their taxes as Single, instead of Married Filing Jointly.

This is known as the “widow’s tax.” The standard deduction gets cut in half and the remaining spouse’s tax rate effectively doubles.

This can take a serious bite out of the assets the firefighter and his or her spouse worked hard for and any legacy planning they aspired to do.

That’s why I love the analogy of building out “levers to pull” in a retirement plan.

02/23/2026

Tax season tip: Don’t forget these investment account forms 👇

📄 Brokerage Account – You’ll receive a Form 1099 reporting dividends, interest, and capital gains.

📄 IRA Distribution (including Roth conversions) – You’ll receive a Form 1099-R. Yes, even Roth conversions generate a 1099-R.

🚫 Roth IRA Contribution – No tax form is required to file your return. (You may receive Form 5498 later for records, but it’s not needed to file.)

📑 Backdoor Roth Strategy – If you make a nondeductible IRA contribution, you must file Form 8606 to track basis and report the conversion properly.

👨‍🚒 Pay stubs - Check out my most recent blogpost to understand how to verify you receive the proper No Tax on OT deduction.

Missing one of these can mean overpaying taxes — or underpaying and getting an IRS letter later. Feel free to reach out if you’d like to get connected with a tax advisor who is proactive with planning points like these!

Learn how to stay in control of your hard earned assets and avoid costly financial mistakes in this finance blog by Chris Bauchle the Firefighter Financial Advisor.

02/20/2026

Matt is a former DoD firefighter and an absolute SME at tax planning for federal firefighters, especially when it comes to calculating the No Tax on Overtime deduction for 2025 (that many will miss out on if they’re not paying attention)!

Check out our YouTube video showing how to identify “in-tour OT” on a paystub - a similar principle applies to firefighters working a 24/48 schedule without a Kelly Day who have FLSA required OT as part of their normal schedule.

*income limits and other limitations apply, so be sure to consult with your advisor to ensure you receive the proper tax deduction

02/11/2026

Day 3 of Firefighter Finance presentations in a shift friendly format.

Here’s what we covered:
✔️ Emergency funds
✔️ Insurance
✔️ 457 match
✔️ Roth vs pre-tax
✔️ Paying bad debt
✔️ HSAs
✔️ Pensions
✔️ 529s
✔️ No tax on OT
✔️ How to automate “paying yourself first”

All in 1-hour with a Q&A.

02/10/2026

Wrapping up another full day of 1-on-1 financial consulting with Cobb County (GA) firefighters. Tons of great conversations around pensions, 457s, and building real-world plans that actually fit the job. Back at it tomorrow!

Get more info on this health & wellness benefit for your fire department or union here: https://www.firefighterfinancialadvisor.com/group-training

01/24/2026

INDY FIREFIGHTERS – PEHP HEADS UP

The City made your Post Employment Health Plan (PEHP) contribution yesterday.

If you’ve never logged in and chosen investments, your PEHP dollars automatically go into the Fixed Account:
- Short-term option
- Current annual effective interest yield of 2% (rate is declared by Nationwide and can change)

⚠️ This can make sense if you’re retired or about to use the money for medical expenses or insurance premiums (though there are a couple other strategies you may want to take advantage of)

❌ It may not be appropriate if you’re still working and have time to let those funds be invested.

If you’re not sure what you’re invested in or whether it matches your timeline, now’s a good time to check.

Login to nrsforu.com or the MyRetirement app and look for this:

01/04/2026

Getting lots of questions about the introduced version of Senate Bill 69 and the impact for firefighters across Indiana from a financial planning perspective.

Check out a video of my spreadsheet illustrating the following examples:

- 30-year firefighter

- Mid-career firefighter (I use my own specific projection with 12 years on the job)

- 1st year firefighter

https://www.firefighterfinancialadvisor.com/senate-bill-69

10/25/2025

Do you have a financial advisor who helps you think through everything you have access to during open enrollment?

Every fall, most firefighters get a 50-page packet and a short window of time to make decisions that impact our families for the next year — health insurance, disability coverage, life insurance, retirement contributions, and more.

Many of us just pick what we had last year and move on. But open enrollment is one of the few times you can make changes that actually move the needle for your financial future.

A good financial advisor helps you look at everything your department offers — from insurance and deferred comp to HSAs and union benefits — and make sure it all works together.

Here’s something many people don’t realize: financial planning can be offered as an employer-sponsored benefit.

If your department isn’t providing that kind of support yet, it might be worth asking why not.

👉 If you’d like to see how I help firefighters make the most of open enrollment, send me a message at firefighterfinancialadvisor.com

10/18/2025

The IRS taxes business owners in a more favorable way than W2 employees.

As a financial advisor, I love when clients have a business ...and rental real estate is one of the simplest ways to become a small business owner. Not only does it give exposure to one of the greatest wealth building tools in history, but it unlocks numerous tax advantages most people don't have access to.

There's also incredible diversification value in having exposure to the real estate market and the stock market. Real estate can offer tangible, long-term stability, while the stock market offers liquidity and truly passive growth potential.

When the two work together, it creates a strong foundation for wealth building and resilience no matter what is going on in the world.