THE MONTHLY RETURN

As we hit the middle of the two months that historically are the worst performing of the year, we see?this year is no different. The markets have pulled back a little over 4% for September. However, they are still positive for the year and will most likely stay that way. There is still uncertainty on many fronts with the focus being on the $1 trillion Infrastructure bill; the $3.5 trillion economic spending bill focused on climate change, health and social programs; the temporary bill to avoid a government shutdown; and the elimination of the debt ceiling so the US does not default of its debt payments.

Congress was able to avoid a government shutdown and some passage is likely to happen on the debt ceiling soon, so the US does not default. All this to say volatility in the market is likely to continue through October. We are not calling for any changes to the portfolio as of now as we still believe that the long-term approach is correct. As always please reach out to us with any questions you have about your individual situation.

As we had in the second month of 2021 we will be sending out our calendar to schedule a review meeting. You can always book your time here as well.BOOK A MEETING WITH USUse this link to schedule a call or meeting with us:

https://go.oncehub.com/MeetwithBonfire

NOBLE EXPERIMENT:?The National Prohibition of Act that was in place from 1920-1933 was also known as the “noble experiment.” As it was created to reduce crime and corruption, solve social problems, and reduce the tax burden created by prisons. It was also hoped that it would improve health and hygiene in America. By all accounts, it was a failure.

LAST CHANCE:?This may be the last year to do a Back Door Roth IRA for individuals who make over $208,000 married or $140,000 single. In the latest tax proposal creating and funding a Back Door Roth IRA would be prohibited. Roth IRAs are funded with after-tax dollars and grow tax-free. They also are not subject to required minimum distributions. If you have one already make sure you have it funded for 2021. Max contributions are $6,000 if you are under 50 years old and $7,000 if you are older than 50.

Known for its landscapes, history, artistic legacy and wines,?Tuscany?Italy is sometimes considered a ‘nation within nation’. Regarded as the birthplace of the?Italian Renaissance, it is also well known for being the home to many influential figures in the history of science and art. Being the second most popular Italian region for travelers, Tuscany truly shines in the fall as stifling temperatures are finally over and golden foliage makes its appearance. Also, the highly coveted?white truffles?are found during this spectacular time and festivals galore are dedicated to these expensive tubers.

With the combination of castles turned wineries turned hotels, elegant cypress trees, cascading hills of the countryside - time here seems to go in slow motion.?Castello di Verrazzano, which dates back to the 14th century, is a mixture of hospitality, delicious wine, and scenic beauty. This estate also produces balsamic vinegar, olive oil and honey. Book a?winery tour?where you’ll learn to properly pair and taste wine during a multi-course lunch, during your three-hour stay. And while the road to reach Verrazzano is narrow and windy, the incredible views will make you forget all about the drive back down.

Another estate that visitors rave about is?Castello di Volpaia. This 11th-century village has taken underground passages and turned them into bottling plants, tasting bars, wine cellars, olive presses and an underground wineduct. But that’s not all it has to offer, you’ll find hiking trails for your enjoyment in the nearby countryside, and if you want to make the most of your visit, you can?stay overnight?in the castello’s apartments or villas. Other wineries of note are?Sovestro in Poggio,?Ciacci Piccolomini d’Aragona, and?Castello del Trebbio?- all of which have their own spin on wines, olive oil, grapes and olives.

And what’s a trip to Italy if you don’t make a visit to?Florence, the capital city. If you are an art and architecture expert, you will definitely want to climb to the top of?Duomo. Otherwise known as ‘The Cattedrale di Santa Maria del Fiore’, this is the center of religious activity. Smack dab in the heart of the city you will not miss this massive Gothic cathedral that was built in the 14th century. You'll quickly identify that?Florence?is an extremely picturesque city where you can spend a few days checking out the quaint shops, amazing restaurants, and luxury accommodations. But before you leave, hike to the top of?Piazza Michelangelo?for incredible views of the city and live music. And if you are there at the right time, you might be able to catch a glimpse of the evening sunset.

Siena, another charming city in Tuscany, is full of near-pristine Gothic architecture all over the city. Make a visit to the?UNESCO World Heritage Site?and for inspiring views, hike to the top of?Torre del Mangia. If museums are your thing, check out the?Museale di Santa Maria della Scala?and the?Museo Archeologico, and if you are still looking for more to do, visit the?Cathedral of the Assunta,?Abbazia di Monte Oliveto?or the?Siena Cathedral?- all of which are unique in their own ways.

Located in northwest Tuscany is?Lucca, a town famous for its 16th-century walls. Lucca is also well known for its native son Giacomo Puccini who composed operatic masterpieces ‘Madame Butterfly’ and ‘La Boheme’. This town has some of the best outdoor markets in Italy to include an antique market and an art show every third weekend of the month.?Cinque Terre?is a group of five villages strung together along cliffs that overlook the Ligurian Sea. These villages have been spared from commercialism so while visiting here you will want to soak up some rays and relax on its local beaches or take a boat tour around the five islands. You can also hike Cinque Terre’s leafy crags,?Via dell'Amore?which is a popular walk that connects Manarola with Riomaggiore. This hike can be challenging so just remember you can also catch a train that runs along the coast, stopping at each town.?

?And last but not least, you cannot make a trip to Italy without a visit to the?Leaning Tower of Pisa. Standing at about 183 feet tall, the tower leans about four degrees making it displaced almost 13 feet from its bottom. Walk the 300 steps to the top, or take photographs of you and your family propping up the tower from the ground. And while this location is the most touristy of them all, it's the most original in the world, one that you won’t soon forget.