October 2024 Newsletter

Hello October!

So many great pieces in this issue of the Long View: there’s something for everyone. We hope you enjoy Angel’s thoughtful and fun reflection on her half-decade at Beck Bode, as well as a fantastic retirement savings opportunity for those of you in your early 60s. As if that weren’t enough, we have the stories of two four-legged Alabama Tide fans, and a delicious meal you may want to cook up soon. Whether your October features spooky creatures, beer and bratwurst, or the more serious business of life, we hope you have a good one. 

Thank you for trusting us with your financial future. We are here for you.

Your Beck Bode Team

In this issue:

• Angel Reflects on 5 Years at Beck Bode
• Looking to Catch up on Your Retirement Savings?
• Significant Changes to Medicare Part D
• Spotlight on Health: Breast Cancer Awareness
• Southern Comfort: Holly and Rebel Make Their Way Into Our Hearts
  
• Fall Recipes: Tuscan Crockpot Chicken & Hot & Spicy Brussel Sprouts
• Featured Blog of the Month

five years at beck bode - angel's reflection

By Angel Williams Costanza
Chief Operating Officer - Dedham, MA

October 1, 2024, marks my five-year anniversary at Beck Bode. Many of you may not know the fun and funny way I came to be here. Nick, my now husband (then boyfriend), met Andy Martone in 2015. They developed a friendship and a professional relationship, and eventually, Andy became Nick’s financial advisor. 

The short version is, while I was finishing my MBA and working full-time at a small financial firm in Rhode Island, I was looking to network with people tied to big national financial institutions in downtown Boston. I wanted to work for a company where I could grow. Nick shared this with Andy, and in true Andy fashion, Andy suggested to Nick that I meet with his bosses, the founders of Beck Bode. The idea was that I would network with Ben and Jim to identify people and opportunities at these larger firms. A meeting was arranged for me to speak with Ben. I hadn’t even made it home from that meeting when Nick called to say Andy had shared that Beck Bode was considering hiring me. I guess they weren’t planning to refer me to those big firms after all! 

During that meeting, Ben and I discovered many strange coincidences and wild connections in our backgrounds. One of the most curious was that I attended Troy University (in Alabama) for my undergraduate degree, just like my dad, who also played in the band there. It turns out Ben’s mentor, David Mallach—author of Beck Bode’s must-read book Dancing with the Analysts—also attended Troy and played in the band. 

And guess what the name of the band director was at Troy? Johnny Long!! You can’t make this stuff up! (If you’ve read the book assigned when you first became a client, I’m imagining you gasping by now!) If you haven’t yet read it, and this is the nudge you needed, please let us know—we’ll send you a copy! 

When I joined Beck Bode in October 2019, the vision for my role was clear: I was to support Ben and Jim as a relationship manager, working for the well-being of their clients. By that point in my career, I had been in financial services in a client service capacity for some time, so I knew what was expected of someone in my position. I got to work right away.

As I settled into Beck Bode, I realized there was so much more I could accomplish. Building relationships takes time, but there were things I could do in the meantime that would pay dividends sooner. I dove into understanding the various processes in the business and identifying areas for improvement. Ben and Jim welcomed my input, and before long, I was standardizing our service approach. As we grew, my role expanded. What started as a focus on managing client relationships became a journey to own the entire client service experience. 

If I ever thought working for a smaller firm would mean fewer opportunities, I was wrong! I never wanted to work somewhere that grew at a small, steady rate—I wanted a place where I could make a big leap forward. That leap happened for me in 2020, barely a year after I started.

As we continued to acquire firms, my sole focus became integrating these new entities, ensuring everyone was on the same page. It wasn’t just about welcoming new clients but also making sure new team members felt part of the family. I threw myself into that project.

When I was asked to take on the role of Chief Operations Officer (COO) at the end of 2022, it marked the end of my outward-facing role in relationship management and the beginning of a new phase. While I miss the day-to-day client contact, my impact today is greater. Now, I touch every part of the business, making changes that benefit every client, not just the ones I used to work with personally.

As I reflect on my five years at Beck Bode, it’s amazing how much we’ve grown—with offices now in Dedham (Massachusetts), Salem and Portsmouth (New Hampshire), and Traverse City (Michigan). Growth is in our DNA here, and that’s something I love about this firm. Through it all, our core values and entrepreneurial spirit have remained the same. As we continue to grow, we want to ensure that everyone who joins us—whether as a client or team member—believes in the same values that have made us strong.

I am always someone who has pushed for more knowledge and growth. People say to be careful what you ask for…I asked for more growth but I never imagined I’d experience this much growth—or to love it the way I do. I mean it when I say I love my job, and I think that’s probably clear to everyone who knows me. It’s become a source of strength and support in my life.

Last month, I received an unexpected health diagnosis of early-stage breast cancer, which has become part of my Beck Bode journey too. Thankfully, it was caught early, so I can focus on treatment and recovery. I share this because I want to say I can’t think of a more supportive environment to go through such a challenge. When I joined Beck Bode, I didn’t “just” accept a job—I chose a family. It was one of the best decisions I could have made. 

My family doesn’t live in New England, so my work family is a big part of my life. To stay positive, I want to keep working during my treatment as much as I can. Ben, Jim, and the team have encouraged and supported me through this decision as I want to keep going because of the joy I get from being here. 

My diagnosis has already sparked so many great conversations with our Beck Bode family. I hope to be a resource for anyone who may be dealing with something similar. I'm looking forward to the day when I can say I’m cancer-free, and I’m confident that day will come.

I’ll close by sharing that one of the qualities I admire most about the Beck Bode team is its resilience. Many of us have faced personal challenges in the five years I have been here. As a team and a community—including our clients—we’ve been through a lot together. I look forward to finding my own resilience in the coming months and years so I can continue contributing to all our growth—team, firm, and client. Here’s to growth and resilience—and to another five years! I can’t wait!

Sincerely,  

Angel

Need to catch up on your retirement savings? here's a window of opportunity!

By Meg Curry, CFP^®

Director of Financial Planning - Dedham, MA

Last month we mentioned that for those of you born between 1962 and 1965 there is a special opportunity to make additional contributions to your 401(k)/403(b) effective 2025.

Per the SECURE Act 2.0, passed in December 2022, people who are aged 60-63 inclusive (meaning if you are 60, 61, 62, or 63 - this is a 4-year window) you will be able to make catch-up contributions to your employer-sponsored plan that exceed the standard catch-up amount. When you turn 64, your catch-up contribution will revert to the standard catch-up amount.

The way it is written in the SECURE Act is that you can make a catch-up contribution that is the greater of…

• $10,000 (this amount is due to be indexed each year, so it may be even higher once the formal numbers are provided, usually in late October/early November every year)

OR

• 150% of the standard contribution. 

How might this look for you?

For 401(k)/403(b) plans, the current catch-up contribution is $7,500, so 150% of that is $11,250, which means you would be eligible to contribute up to $11,250 since that is greater than $10,000.

For SIMPLE plans, the current catch-up contribution is $3,500, so 150% of that is just $5,250, which means you would be eligible to contribute up to $10,000 instead.

We will be monitoring the announcements for what the 2025 maximum contributions are as well as what the indexed $10,000 amount will be, which we are confident may be higher.

Please note your Human Resources department will probably also be sharing this information with you, to be sure that all eligible 60- to 63-year-olds are aware of this special feature.

As always, if you have any questions don’t hesitate to reach out!

Significant changes to medicare part d - anyone 65 or older take note!

By Meg Curry, CFP^®

Director of Financial Planning - Dedham, MA

If you are still working and have your coverage through your employer, please be sure to review your prescription coverage.  Effective in 2025, there is a $2,000 out of pocket (OOP) cap for prescriptions.  If your employer coverage has a higher prescription deductible, it will not be considered credible coverage when you do eventually enroll in Medicare and you will be subject to a permanent late enrollment penalty.

If you are already enrolled in Medicare, please be sure to carefully review the changes coming in 2025 regarding prescription coverage. There are some significant changes, and some plans are being discontinued entirely.  Also, you should always review your plan details annually – the plan name may not change, but its details may. One key takeaway from a webinar I recently attended – this $2,000 OOP cap only applies to prescriptions IF they are covered by your plan, if not, you will pay the full cost regardless if it exceeds the $2,000 maximum.

Please feel free to reach out to Meg if you have any questions.

Fall in New England

The stunning views of New England’s famous fall foliage are from the Petersburg Pass loop in Williamstown, MA and the photo of the cabin is on the Overlook Trail, part of the Mt Greylock trail system. Mt. Greylock is the highest peak in Massachusetts. On a cloudless day, from its peak, you can see as far as 90 miles out into Massachusetts, Connecticut, Vermont, New Hampshire, and New York.

Photos courtesy of Meg Curry, CFP®

Spotlight on health: Breast cancer awareness month

Breast Cancer Awareness Month, observed in October, is a global initiative dedicated to raising awareness, promoting early detection, and supporting research into breast cancer. In the U.S., breast cancer is the most frequently diagnosed cancer in women, with about 1 in 8 women developing it in their lifetime. It accounts for about 30% of new cancer cases in women annually. However, early detection through regular screenings, such as mammograms, can dramatically improve survival rates.

To educate themselves on breast cancer prevention, individuals should learn about key risk factors, the importance of routine screenings, and how adopting a healthy lifestyle—through balanced nutrition and regular exercise—can reduce risks. It's also important to remember that while breast cancer predominantly affects women, men can also be diagnosed with the disease. A common misconception is that you must have a family history of breast cancer or the gene for the disease. Only 10-15% of people have the BRCA gene mutation. That’s why it is so important to self-examine and push for mammograms as early as possible. 

Supporting a loved one with breast cancer includes offering emotional support, being a compassionate listener, assisting with daily tasks, and encouraging them as they seek professional care. 

Some of the leading organizations dedicated to finding a cure and providing support include the American Cancer Society, the Susan G. Komen Foundation and the Breast Cancer Research Foundation and Dana Farber Cancer Institute.  These organizations play a crucial role in funding research, offering educational resources to the public, and supporting patients and their families. For more information, please visit their sites. 

Pets of the Month: Rebel & Holly

Contributed by Michele Naehle
Sr. Client Associate - Salem, NH

Southern Comfort comes in the form of two lovable four-legged members of the Naehle family. This month, October’s featured pets are Holly and Rebel Naehle, two rescues who came to Michele’s home from the South. We hope you enjoy them as much as we do!

Rebel is an 8-year-old rescue from Mississippi. His early life was traumatic, but his southern rescue team nurtured him and brought him back to health, and we adopted him at 4 months old.  He is afraid of almost everything, and most content at home with his people.  He is camera-shy, so we have to sneak around to get pictures of him! He likes to roam the woods behind our house, but his favorite spot is on this couch.  In the colder months, when we have a fire going, he will stare at it for hours. 

Although he was born in Mississippi, we turned him into an Alabama Crimson Tide Fan.  Roll Tide!

Like most Labs, he loves to eat, and he weighs 93 pounds!! Bacon is his favorite treat. 

Holly is our 11-year-old rescue from Louisiana.  We adopted her at just 12 weeks, and she was tiny!  Holly makes up for her size with her fearlessness.  She is very protective of her home and her family, especially her mama.  Holly is very vocal, and will bark at neighbors, other dogs, children, Amazon delivery people, and leaves blowing in the yard.  She is such a good dog to alert her family to these threats.  Our family feels quite safe with Holly guarding our home.

Holly’s other favorite pastimes include bossing Rebel around and lying in the sun. 

Holly is also an Alabama Tide Fan and loves her game day "Outfit of the Day". ☺ 

This Month's Fall Recipes

crockpot tuscan chicken

Contributed By Ashley Cotler
Client Associate - Dedham, MA

Tired of the same old for dinner? Ashley sends this recipe to us by way of Las Vegas. She says, “This one I’ve been making lately and it’s delicious!  I sub chicken thighs instead of chicken breasts though.”

Maybe you’ll give it a try, and serve it over some pasta and for a green side dish, try Joan’s Hot and Spicy Brussels Sprouts? 

This Crockpot Tuscan Chicken is made up juicy chicken breasts slow cooked in a rich and cheesy cream sauce. Just 10 minutes to prep and 3 hours of time to cook in the crockpot. Set it up in the morning and have a mouthwatering dinner by the time everyone gets home. 

Enjoy!

Ingredients

Sauce: 

Instructions

1. Place chicken breasts in a 2.5-4 quart slow cooker.
2. Combine salt, Italian seasoning, paprika, and pepper in a small bowl. Sprinkle evenly over chicken.
3. Stir together the sauce: add the cream, garlic, corn starch, salt, and pepper to a medium bowl and whisk.
4. Stir in the sundried tomatoes and Parmesan cheese and pour around and over chicken in slow cooker.
5. Put the lid on and cook on low for 3 hours or until chicken reaches an internal temperature of 165 degrees F. The sauce may separate as it cooks (it will NOT curdle!) — simply stir together until smooth. Stir in the fresh spinach.
6. Remove from the crockpot and serve with pasta or as desired.

Enjoy!

Recipe Source

Hot & Sweet brussels sprouts

A vegetable with an undeservedly bad reputation

Why would we share a brussels sprouts recipe in October? It’s not even Thanksgiving, the month where many people feel forced to face this little cabbage. The brussels sprout doesn’t deserve its bad reputation, and maybe you didn’t like the ones you grew up on, but wait until you try Joan’s recipe! Make this brussels sprouts recipe in October so that you can show your relatives how amazing this unlikely side dish can taste when Thanksgiving rolls around.

Contributed by Joan Waters
Client Services Manager - Salem, NH

Ingredients:

1-1/2 lbs brussels sprouts
½ cup extra-virgin olive oil
¼ cup rice wine vinegar
¼ cup honey
2 TB Sriracha
Salt and pepper

Instructions

1. Preheat oven to 400º.  Trim base of brussels sprouts and cut in half.
2. In a large bowl, whisk olive oil, vinegar, honey and Sriracha to combine.  Add brussels sprouts and toss until they are fully coated.  Season with salt and pepper.
3. Line a cookie sheet with aluminum foil and spread the brussels sprouts cut side down.  Pour any extra olive oil mixture over top of sprouts.
4. Roast until the sprouts are crispy on the outside and golden and caramelized on the cut sides (about 20 minutes). Serve immediately.

Enjoy!

Featured Blog: A financially fit life: ben beck on crossfit, investing, and family

Read on for a fascinating interview with Ben, where he makes connections between fitness, finance, and fostering strong family ties

That wraps up our October issue of The Long View. Until the next time, take a look at more of the latest articles on our blog. 

Thanks for reading, and for following us. If any part of this month’s topics suggests a question or concern you may have, or if you need anything else, please call or write — we look forward to speaking with you!

From all of us at Beck Bode.