In a large soup pot, heat olive oil on medium heat.
Add onion, carrot, and parsnip and cook for 5 minutes until softened.
Add chopped turkey bacon and cook another 3-4 minutes.
Add lentils, broth, water, thyme, salt and pepper.
Cover and bring to a boil.
Boil for 5 minutes then turn heat to low and simmer.
Cook until lentils are soft and most of the liquid is absorbed.
You can use any type of lentils, but I recommend using black lentils. They tend to hold their shape a lot better than green or brown lentils. Orange lentils will turn to mush so I don't recommend using this color.
If you would like this soup to be low-fat, use turkey bacon.
This soup will keep up to 4 days in an air-tight container, or up to 4 months in the freezer.