Beck BodeStart The Year Off With Some Inspiration
Happy New Year! We hope that you are easing into January. We thought we would kick off things by sharing a positive story, something that is inspiring and shows determination and growth... Here it is.
Every year, we have the privilege of recognizing an exceptional individual who embodies the heart and soul of Beck Bode's mission to transform lives. Through their remarkable dedication and genuine spirit of service, this person sets the gold standard for what it means to create meaningful impact. We created the “Mallach Award” to recognize precisely this kind of individual in our organization.
Named after David Mallach – Ben’s mentor, and the author of Dancing with the Analysts (among many other books), the Mallach Award is presented annually to an individual who consistently exemplifies the Beck Bode purpose of doing good. This person lives our collective mission to have a positive impact on everyone they touch—from family, colleagues, and friends to clients and the community. They embody a genuine enthusiasm for sharing the Beck Bode philosophy, driven purely by the joy of spreading something meaningful with others.
In December of 2024, our leadership team was thrilled to present the Mallach Award to someone outside the original Dedham team for the very first time. The award went to an individual who joined our organization and demonstrated tremendous personal and professional growth, Karen O’Donoghue, CFP®, Sr. Client Advisor in our Portsmouth, New Hampshire location.
Karen has worked tirelessly to refine her skills, mastering the Beck Bode strategies and excelling in her presentations of the Beck Bode Goal Planning Statement, or GPS. Her dedication has resulted in the implementation of the Beck Bode strategies for our Portsmouth clients, all while she was earning her CFP® designation in her “free time!” Karen’s commitment and impact have been nothing short of extraordinary, and we can’t wait to see what she accomplishes in the year ahead.
It is with great excitement that we present the 2024 Mallach Award to Karen O’Donoghue.
Congratulations, Karen, from all of us!
In this issue
Financial Planning Corner: The Power of Compound Growth
Director of Financial Planning - Dedham, MA
As we enter a new year, this is a great time to think about not just maximizing your IRA contribution, if you are eligible, but also to maximize its earnings.
The 2025 IRA contribution maximum is $7,000 for most workers, but for those 50 or older, it is $8,000. The contribution can be made as late as the tax filing deadline for your 2025 return in April 2026. But why wait until then? Have you ever considered what you are giving up by waiting to make that contribution?
By making your contribution as early as January 2025, you put yourself in a great position to have that money working for you for 15 months. Assuming a 6% annualized return, this could mean that your
account may be about 7.5% higher than if you were to wait until the last possible month to contribute. (See chart below.)
As noted above, there are requirements as to whether you can make contributions. We’re here to help you make that determination, so please don’t hesitate to reach out to ask us how you can have your money working for you sooner.
Assuming a 6% annualized return
Good news for (some) people receiving public pensions!
Goodbye to GPO and WEP! The Social Security Fairness Act was signed into law on January 5th, 2025, which repeals the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP). “These ‘features’ of Social Security (SS) resulted in some recipients having their benefits reduced if they were receiving a public pension. (Federal, state, or municipal pensions.) Per some information online, if anyone has had their SS benefits reduced, there is nothing they need to do, the adjustment will be made automatically for them.
Starting 2025 Strong: Tips for a Healthy, Balanced Year
Client Associate - Dedham, MA
With the holidays behind us, we embark on the exciting chapter of 2025. This is a great time to refocus and create a productive routine that will yield long-term dividends (much like a well-designed financial plan!).
A solid wellness foundation starts with three essential pillars: sleep, diet, and exercise. Here are some simple, effective tips to help you get (back) on track:
Sleep: Create Restful Habits
- Dim the lights in the evening to naturally boost melatonin production, this will help you
ease into sleep. - Limit screen time at least 30 minutes before bed to reduce blue light exposure.
- Cool it down: Adjust your thermostat to 60–67°F for optimal sleep quality and health benefits.
- Begin your day with hydration—drink a full glass of water before your morning coffee.
- Gradually replace holiday indulgences with fresh fruits or nutritious smoothies.
- Fill any nutritional gaps with high-quality, organic supplements.
- Prioritize quality meats for better nutrition and flavor.
Exercise: Start Moving
- Schedule your workouts as you would other important appointments. Start small.
Begin with two days a week, then gradually increase as you build consistency. - Remember, boring is beautiful; even a 30-minute walk can deliver significant benefits.
- On low-energy days, focus on stretching to stay active and flexible.
Small, intentional changes can have a big impact on your well-being, setting the stage for a productive and fulfilling year ahead.
Here’s to a happy, healthy, and prosperous 2025!
A Suitable Send-off for 2024!
Last December, we convened as a team - as has become our tradition every year-end. Our most recent off-site event brought together staff from all office locations to celebrate the many successes of 2024 and collectively strategize the firm’s goals in 2025.
The day was filled with energy and collaboration, highlighted by a friendly competition where teams crafted winter-themed structures out of holiday treats. We capped off the event with a family-style dinner, strengthening connections across the team. Energized and united, our team is ready to achieve great success in 2025!
Pet of the Month: Chuck
Client Advisor - Salem, MA
January’s beloved feline comes to us via Brian Wickett, Client Advisor.
Here’s what he has to say about Chuck the Cat:
“Chuck is a 13-year-old Domestic Shorthair cat who has transitioned nicely from indoor city living in Boston to enjoying supervised outdoor adventures in the great state of Maine. His laid-back personality and easygoing nature have made this change effortless. Chuck is slowly warming up to his younger human brother, Jackson. Their bond is still forming, but with Chuck's gentle demeanor, it's only a matter of time before they’re best buds.”
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Recipe Corner: Chili for a Crowd, Over Parsleyed Rice
By Meg Curry, CFP®
Director of Financial Planning - Dedham, MA
Just in time for football season, Meg sent in her “Chili for a Crowd.” She says, “I usually only make the quarter batch, but I’m including all the adjusted quantities since I have them worked out. Make as much as you need, based on the size of the crowd you’re feeding!”
Only a financial planner would put in the effort to calculate and tabulate the ingredients so meticulously.
Even if you don’t cook this chili, we bet you’ll get a kick out of it. Enjoy, and may your team win!
Ingredients
INSTRUCTIONS
- Heat olive oil in a very large soup kettle. Add onions and cook over low heat, covered until tender and translucent, about 10 minutes.
- Crumble sausage meat and ground chuck into the kettle and cook over medium-high heat, stirring often, until meats are well browned. Spoon out as much excess fat as possible.
- Over low heat stir in black pepper, tomato paste, garlic, cumin seed, chili powder, mustard, salt, basil and oregano.
- Add drained tomatoes, wine, lemon juice, dill, parsley and drained kidney beans. Stir well and simmer, uncovered, for another 15 minutes.
- Taste and correct seasonings. Add olives, simmer for another 5 minutes to heat through, and serve immediately.
- Also, have bowls of chopped white onions, grated cheese, and sour cream ready so guests can garnish as they choose.
I like to serve this over parsleyed rice.
Parsleyed Rice
Source: The Silver Palate Cookbook, by Julee Rosso and Sheila Lukins with Michael McLaughlin
Makes 6 cups cooked rice, 6 to 8 portions
Ingredients
4 cups water, or chicken stock
2 cups uncooked long grain rice
1 tablespoon salt
8 tablespoons (1 stick) sweet butter1, cut into 8 pieces
1 ½ cups finely chopped Italian parsley
INSTRUCTIONS
1. In a heavy pan, bring the water or stock to a boil. Stir in the rice and salt, return to a boil, reduce the heat to low, and cover tightly. Let the rice cook, undisturbed, for 25 minutes.2. Uncover the pan, add the butter and parsley (do not stir), and cover. Remove pan from heat and let
stand for 5 minutes.
3. Uncover pan, toss rice with a fork to mix in the butter and parsley, and serve immediately.
Note: Sweet butter is salted butter.
That wraps up our January 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.