Beck BodeAs 2024 comes to a close, we’d like to thank you for allowing us to accompany you on your financial journey.
Thank you for being part of a community that believes in what’s possible, for making such a strong commitment to your financial future, and for having the discipline to follow through. Thank you, also, for making us part of your success story.
We wish you a joyful holiday season filled with peace and prosperity.
From all of us at Beck Bode.
In this issue
- B.E. F.A.S.T.
- Meg's Corner: Plan to Save More Next Year!
- Pet of the Month: Boomer
- Recipe: Unstuffed Cabbage Soup
- Recipe: Roasted Olive Appetizer
- Featured Blog: Why Early Planning for College Matters
B.e. F.a.s.t.
Client Advisor - Traverse City, MI
If ever there was a time to B.E. F.A.S.T., it is when you or a loved one are experiencing any of these symptoms:
On Halloween, I got a scary voicemail from my father. His message said, “Tammy, I don’t want you to panic but I think I’ve had a mild stroke and need to go to the hospital.” Come to find out, my dad had started experiencing some of the above issues 10 days prior to calling me! My dad is amazing but super stubborn and doesn’t want to be a burden to anyone. At the same time, my mom, his wife of 56 years, had been sick with shingles so she wasn’t well enough to help.
Once at the hospital, the ER doctor and nurses asked what took my dad so long to come in! I asked him the same thing. I had heard when stroke symptoms occur, getting fast treatment can prevent death and disability and I was so disappointed my dad did not know this.
Luckily his symptoms were on the milder side: weakness in his left arm and leg, and balance issues, which he has been working on daily in rehab to strengthen. It could have been so much worse but could have been even less damaging had he gone to the hospital as soon as he started experiencing these symptoms.
I’m sharing this with all of you in hopes you will share it with your loved ones in case they don’t know this information. This is also a reminder to get at least 30 minutes of exercise a day, eat your green leafy vegetables, and stop smoking.
I am grateful to our local hospital, Munson Medical Center, and the excellent team of doctors, nurses, and therapy specialists who have helped my dad. The great care he received, and his hard work meant he could be home with us for Thanksgiving.
Meg's Corner: Plan to Save More Next Year!
Director of Financial Planning - Dedham, MA
We know we’ve mentioned this before, but you can’t say it enough times!
Starting in 2025, there are significantly increased catch-up contributions in qualified retirement plans for those of you who are 60–63 years old (birth years 1962-1965). Don’t miss this great opportunity to save more.
If you have any questions, please contact Meg.
Just to recap, here are the 2025 numbers for retirement plan contributions.
401(k)/403[b]/TSP
- 401[k]/403[b]/TSP max contribution: $23,500.
- 50 or over (birth year 1975 or earlier) catch-up contribution: $7,500, for total of $31,000.
- For those 60-63 (birth years 1962-1965) higher catch-up contribution which is $11,250 for total of $34,750.
- (See article in last month’s newsletter for more details.)
NOTE: The contribution limit refers to what you as the employee can contribute. Any employer match or profit sharing is in addition to this.
Simple IRA
- SIMPLE IRA max contribution: $16,500.
- 50 or over (birth year 1975 or earlier) catch-up contribution: $3,500, for a total of $20,000.
- For those 60–63 (birth years 1962-1965) higher catch-up contribution which is $5,250 for a total of $21,250. (See article in last month’s newsletter for more details.)
Traditional or Roth IRA
- IRA max contribution (Traditional or Roth) is $7,000.
- 50 or over (birth year 1975 or earlier) catch-up contribution $1,000, for a total of $8,000.
Pet of the Month: Boomer
By Andy Martone
Senior Client Advisor - Dedham, MA
This month we are featuring Boomer, a Labrador Retriever who lives with the Martones on Cape Cod.
Boomer loves long walks on the beach, sunsets, and plenty of treats. Being selected as Pet of the Month, you would think the attention and notoriety would go to his head. Not so for Boomer. Coming from a rich lineage of show dogs, Boomer is used to being in the spotlight.
Though he was deemed ineligible to contribute to his family legacy due to his unusually lax nature and the white spotting on his paws, Boomer still exercises his prominence by going door to door imposing a cheese tax on local residents.
He was voted “Most Likely To Appear At Your Doorstep” at last year’s Community Choice awards.
Recipe Corner: One-Pot Unstuffed Cabbage Soup
Client Advisor - Traverse City, MI
Tammy Stoerkel sends in this recipe, a wintertime meal her family loves! Most of the ingredients are likely already in your pantry. She says this soup is full of veggies, hearty ground beef*, cooked rice, and tons of flavor. Made all in one pot, to boot!
INGREDIENTS
- 1 Tablespoon olive oil
- 2 large onions, diced
- 2 lbs lean ground beef
- 2 cloves garlic, minced
- 1 Tablespoon tomato paste
- 1¼ teaspoons salt
- ¼ teaspoon ground black pepper
- 4 cups low sodium broth (could be beef, chicken, or veggie)
- 15 ounces diced tomatoes
- 14 ounces crushed tomatoes
- 2 large carrots, peeled and diced
- 14 ounces green cabbage, cored & cut into bite-sized pieces, about 1 small head of cabbage
- ½ cup long grain white rice
- 2 teaspoons Worcestershire sauce
- 1 Tablespoon brown sugar, optional
- Chopped fresh parsley, optional garnish
*To make this unstuffed cabbage soup vegetarian, either use a plant-based meat replacement like Beyond Beef or add 2 cups cooked lentils when you add the brown sugar. Also, be sure to use vegetable broth and a vegan Worcestershire to make this recipe plant-based.
INSTRUCTIONS
- Heat the oil in a large soup pot or Dutch oven over medium-high heat. Add the onion and sauté until translucent and softened, 2 to 3 minutes.
- Add the ground beef and cook, stirring frequently, to break the meat up into crumbles. About 5-7 minutes.
- Once the meat is cooked, add the garlic, and cook for 1 minute. Stir in the tomato paste, salt, and pepper.
- Slowly add the broth, scrapping up any brown bits stuck to the bottom of the pot. Stir in the diced tomatoes, crushed tomatoes, carrots, cabbage, and rice.
- Bring the pot up to a boil then cover and lower the heat to medium-low to maintain a light simmer. Cook until the rice is cooked through, and the vegetables are tender, about 20 minutes.
- Stir in the Worcestershire sauce and sugar, if using. If a lot of the liquid has evaporated during cooking and the soup is too thick for your liking, stir in a cup of water to thin it out. Carefully taste the soup for seasoning and add more salt and pepper as needed.
- Ladle soup into bowls then top with a sprinkle of chopped parsley.
Holiday Season Appetizer: Roasted Olives
Director of Financial Planning - Dedham, MA
Meg says, “I have a great roasted olives app recipe I often make at Christmas. The recipe recommends serving with baguette, pita slices, or crackers. I typically have those available, but also provide toothpicks.” Whatever the occasion is that you choose to try out this recipe, we do hope you enjoy!
INGREDIENTS
- 1 pint (2 cups) grape or cherry tomatoes
- 1 cup black ripe olives
- 1 cup kalamata olives
- 1 cup queen olives stuffed with garlic
- 1 tablespoon herbes de provence blend (or a mix of dried rosemary and thyme)
- 8 whole garlic cloves, peeled
- ¼ cup olive oil
- ¼ teaspoon freshly grated black pepper
INSTRUCTIONS
- Lay all ingredients on a sheet pan and toss to combine well.
- Roast in pre-heated 425 oven for 15–20 minutes, or until tomatoes are shriveled and browned lightly. Cool on rack. Transfer to a nice serving plate and serve at room temperature.
Featured Blog: Why Early Planning for College Matters: Insights from Our Family Journey
By Jim Bode
Managing Partner - Dedham, MA
For the past 15 years, I've been discussing college planning with many of our clients, but now that I’m living it, I have a deeper understanding of both the emotional and the financial challenges involved in getting a child to college.
This experience has without a doubt made me a better advisor.
That wraps up our December 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.