Heat olive oil in a large pot over medium heat. Add bacon pieces and cook until crispy. Remove and set aside for topping.
Cook onion in the bacon grease until softened, about 5 minutes. Add garlic and cook 1 minute.
Add ground beef, breaking it up with a wooden spoon. Season with salt and pepper. Cook until browned.
Add pumpkin purée, tomatoes, beans, parsnips, carrots, turnips, sweet potatoes, thyme, chili powder, cumin, garlic powder, onion powder, and smoked paprika. Pour in beef broth and stir to combine.
Bring to a boil over medium-high heat, stirring occasionally, and cook for 10 minutes. Reduce heat to low, cover, and simmer 30–40 minutes, or until vegetables are tender.
Taste and adjust seasonings as needed. Serve hot, topped with bacon and any of your favorite garnishes.