Is it the end of the summer, or would it be more accurate to say it’s the end of the slumber? As soon as September rolls around, life seems to accelerate. How have you been experiencing the past few weeks? We certainly feel the speed of the final months of the year.
This is the time for lists, notifications, and ‘checking things twice.’ To this end, we have packed this newsletter with lots of important notifications, contribution limits, and other tidbits that will make a difference as you plan for your financial future.
More to come in the remaining months, of course! In the meantime, if you have any questions, please don’t hesitate to be in touch.
September is the unofficial start of the countdown to the end of the year. It’s worth it to make sure you are on track to hit your savings goals.
We have compiled a handful of reminders about contribution limits for everything from medical spending accounts to retirement accounts. Take a good look so that you don’t leave any money on the table!
Open Enrollment Time for Health Benefits
If you are eligible to contribute to a Health Savings Account (HSA), the 2025 maximum contributions are:
If you have access to a medical Flexible Spending Account (FSA), review your contribution amount:
For example, you elect to contribute $3,000 over the course of the 2025 calendar year. You then incur an expense in January of $2,000. You can request full reimbursement for that $2,000 even though you haven’t made contributions totaling that yet.
If you leave that employer before making contributions for the amount you have been reimbursed, you do not have to pay it back.
If you have childcare expenses and have access to a dependent care Flexible Spending Account (FSA), review your contribution amount. (Due to high cost of childcare, usually the maximum amount is far below your expenses.)
Other End of Year Reminders
401(k)
Make sure to review your 401(k) contributions for 2024 to ensure you are saving as much as you can. Here are some items to note:
IRA
If you are contributing to an IRA please review your limits for 2024 for traditional IRA and Roth.
If you are 73 or older and have retirement accounts – you must take your Required Minimum Distribution (RMD) by December 31st.
A Conversation with Jim Bode
Co-Managing Partner
We recently caught up with Co-Managing Partner Jim Bode, to discuss Beck Bode’s and the Bode family’s support for Type 1 Diabetes (T1D) research. Here’s a brief excerpt from that conversation.
How has Beck Bode supported diabetes research over the years?
Well, Breakthrough T1D, formerly JDRF, is the top charitable initiative we support as a firm. Beck Bode has for years now participated as a sponsor of the Annual Gala, which typically takes place in the spring. Last year in just one night, the New England chapter raised over $2 million!
As a family, we are excited to be participating again, this year, in the world’s largest fundraising and community-building event for the T1D community, the Breakthrough T1D Walk. Our Walk team, “ANNA’S ALL-STARS” has consistently been a top team (across all sites, not just Boston) and has raised more than $128,000 since 2019. In 2022 the team raised $35,761 for Breakthrough T1D’s mission!
Our daughter, Anna will be walking alongside family, friends, and Beck Bode team members. The Boston event will kick off on Saturday, September 28th at 9:00 am at the DCR Memorial Hatch Shell. It’s a fun event with thousands of participants. I hope some of our readers will put on their sneakers to check it out and feel the strength of this community.
JDRF changed its name, right?
Yes. What used to be JDRF (Juvenile Diabetes Research Foundation) has been renamed Breakthrough T1D. The new name is reflective of a more inclusive organization, one that reflects the fact that getting a diabetes diagnosis is not limited to children. Also, the organization not only raises funds for research for a cure; it engages in substantial advocacy at the government level, and it helps in many ways to make life easier for people living with T1D.
It seems that your whole family is involved in supporting the organization.
My wife, Crista, is incredibly active in the organization. Last year she was recognized with a Volunteer Award. Next year, she will serve as the Chair of the Gala Committee.
Last year, 9-year-old Anna went to Washington D.C. to meet leaders in Congress to advocate for additional governmental funding for a cure and other ways to provide ease for those living with T1D.
As President-Elect, I am currently preparing for leadership of the Board of the New England Chapter of Breakthrough T1D. I am looking forward to that responsibility with excitement for the future of this impressive organization and the incredible people who support it.
We are grateful to everyone who has embraced this cause that is so close to our hearts.
Meg Curry, CFP®
Director of Financial Planning - Dedham, MA
This month, we are thrilled to put the spotlight on Meg Curry, CFP®, whom many of you will know through personal interactions.
Meg’s decision to make a career change years ago – from technology to financial planning – has benefited us all. After earning a Master’s in Financial Planning at Bentley University and completing a graduate certificate in taxation to further expand her knowledge and nurture her “strong tax head,” Meg was ready to make the switch. We’re just glad that she chose to put her financial planning skillset to use here – at Beck Bode.
Every month, when we prepare this column, we ask the team to submit comments about the person who is being highlighted. So many wonderful things were said about Meg. We are happy to share these comments with you:
“Our clients truly appreciate Meg’s attention to detail and her thorough, thoughtful approach to planning. Meg has a sharp mind, and is a true “numbers-person,” but also has a natural ability to connect with our clients on a personal level, and to put them at ease during a meeting.”
“We are fortunate to have Meg in the office, especially on days when she has done some baking! Meg is an avid baker, and she often treats us to her latest creations when she is in the office. Her Mud Bars are sinfully good! “
“No one office or team claims Meg – she belongs to all of us at Beck Bode and we are lucky to know her!”
“When you work with Meg Curry, you know that there will always be a plethora of knowledge to help you succeed in helping our clients. Her background covering technology, client service, and of course tax and financial planning put her at the top of the employee “asset list” here at Beck Bode! It is easy to see that many clients appreciate and count on Meg’s expertise, as do her co-workers in every one of our offices!”
“Meg is such a kind, welcoming person and makes people feel like they “belong.” Any time I’ve asked for her input on a client issue, she has jumped in without hesitation, helping me think through the details while offering great advice. I'm so grateful that she's willing to be a knowledgeable and friendly resource!”
Thank you, Meg!
This month we feature Atlas, the Goldendoodle who resides and tends to the Bode household, more specifically to Anna!
Atlas joined the Bodes after Anna’s diabetes diagnosis. The entire family flew to Las Vegas, where Atlas was being trained, in the middle of the pandemic, to meet with him and to have him spend time with Anna.
Atlas is a Diabetes Service Dog, trained from puppyhood to develop a sensitivity to high blood sugar levels. This means that he instantly knows when Anna’s blood sugar is out of balance, and will alert the family accordingly.
We will have a longer feature on Atlas in a future issue, but for now we hope you enjoy this big, snuggly dog with the expressive brown eyes.
Contributed by Joan Waters
Client Services Manager - Salem, NH
This month’s recipe comes from Joan Waters, from our Salem office. Joan says:
"This blueberry brownie recipe is entirely Paleo. A sweet treat that I don’t make that often, it fools a lot of folks who do not realize there is no flour or sugar (other than the natural sugar from the fruits, honey or maple syrup). I have made these brownies without the sauce too and they are still yummy!”
Enjoy!
Ingredients
Ingredients
Instructions
In our latest blog, we explore the difference between fee-only and fee-based advisors, why the fiduciary standard matters, and how the right strategy – not compensation – drives financial success.
That wraps up our September 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.