Beck BodeSeasons of Change: Making the Most of Life's Transitions
September brings a distinct shift in rhythm. The carefree days of summer begin to fade as we transition to the structure of fall routines. While we cherish those final warm evenings, we also embrace the productive energy that comes with this season of change and preparation.
As the world goes back to full swing, we find ourselves caught in that familiar balance of looking back while planning ahead. September offers a perfect moment to assess where we are, reset our intentions, and prepare for the final months of the year with purpose.
In this edition we share perspectives on navigating life's transitions with intention. From Jim Bode's reflections on sending his first son to college, to his family's seven-year journey with Type 1 Diabetes, to practical guidance for year-end planning and the unique financial challenges of the 50-year-old investor. We close with Bonnie Barley's unexpected story that might inspire you to pursue your own long-held dreams.
These stories remind us that life's transitions, whether planned or unexpected, offer opportunities for growth when approached with thoughtful preparation. At Beck Bode, we believe the most meaningful journeys combine careful planning with the courage to embrace new beginnings.
In This Issue
- Feature Article: The $50,000 College Mistake I Almost Made
- Spotlight: Walking for a Cure: Seven Years of Hope
- Planning: Year-End Notices That Could Impact Your Savings
- NoBondsCast: Financial Strategies for the 50-Year-Old Investor
- Meet Bon Bon BOOM: Bonnie's Unexpected Adventure
Feature Article: The $50,000 College Mistake I Almost Made
By Jim Bode
Managing Partner
It's been nearly a month since I dropped my son Luke off at college, a milestone that arrived faster than I ever imagined. I can't help but reflect on the journey that got us here and the costly mistakes we managed to avoid along the way.
When most parents think about college planning, they immediately focus on saving enough money. That's certainly important, but there's a critical mistake that could cost you $40,000 to $100,000 or more: rushing the college selection process itself.
Many families took a different approach, having their child send application after application to numerous universities, then visit after acceptance when they have about 30 days to decide. The result? Kids often spend a year at the wrong school that maybe doesn't offer their major or isn't the right environment. That's when you waste tens of thousands of dollars having them figure things out because the process was rushed.
Spotlight: Walking for a Cure: Seven Years of Hope
By Jim Bode
Managing Partner
Change has a way of forcing us to stop and think. Seven years ago, our family experienced that kind of change when my daughter Anna was diagnosed with Type 1 Diabetes.
Recently, Anna shared her perspective of living with T1D: "I walk because I want my future self and everyone who has T1D to have a better life and hopefully find a cure someday." Her words capture exactly why I recently stepped into the role of Board President for Breakthrough T1D Greater New England.
What makes this journey meaningful isn't just the fundraising totals or research breakthroughs. It's watching Anna navigate life with T1D every day. She's grown so much these past 7 years since being diagnosed into a confident young person who manages her condition with remarkable resilience. While the daily challenges never take a day off, neither does our determination to make life better for everyone with this condition.
To us, this walk represents more than a fundraiser. When you see hundreds of people gathered for the same cause, you realize you're part of something much bigger than yourself. If you'd like to be part of this community effort:
- Join us on Saturday, September 27th at 9 a.m. at the DCR Hatch Shell in Boston
- Consider supporting life-changing research and technology to better the lives of those who live with T1D
The momentum in T1D research is genuinely exciting. While finding a cure remains our ultimate goal, I'm equally passionate about supporting innovations that make day to day life with T1D better right now.
Join Anna's All Stars for the September 27th Walk in Boston
Timely Year-End Notices That Could Impact Your Savings
By Meg Curry
Director of Financial Planning
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 2026 maximum contributions are:
- Individual plan: $4,400
- Family plan: $8,750
- Those 55 or over can contribute another $1,000 (born in 1971 or earlier)
- Any amount your employer contributes is included in the above limits
If you have access to a medical Flexible Spending Account (FSA), review your contribution amount:
- 2026 maximum contribution not yet announced
- Any amount not used is forfeited
- Review your out-of-pocket expenses and consider adjusting your contributions
- You can get reimbursement for more than your contributions made to date
For example, you elect to contribute $3,000 over the course of the 2026 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.)
- 2026 maximum contribution will be $7,500. This is a 50% increase over the 2025 amount which was part of the One Big Beautiful Bill passed in July
- You can only get reimbursed once you have made contributions matching the amount you are requesting
Other End of Year Reminders
401(k)
Make sure to review your 401(k) contributions for 2025 to ensure you are saving as much as you can.
Here are some items to note:
- 2025 maximum is $23,500
- Those 50 or older can contribute another $7,500 (born in 1975 or earlier), for a total of $31,000
- This is the amount YOU can contribute -- any employer match is additional
- For those who will be 60-63 in 2026 (born 1963-1966), there is a special extra catchup opportunity for you. This came into effect this year, so those of you born 1962-1965, check to see if you are making that extra catchup contribution. For a 401(k) or 403(b) plan, it is $11,250
IRA
If you are contributing to an IRA please review your limits for 2025 for traditional IRA and Roth:
- Maximum contribution is $7,000 -- same as 2024
- Those 50 or older can contribute another $1,000 (Born in 1975 or earlier)
- You do have until the tax filing deadline in April 2026 to make contributions, but if you know you will make contributions -- get your money working for you sooner!
If you are 73 or older (born before 1953) and have retirement accounts -- you must take your Required Minimum Distribution (RMD) by December 31st:
- Many have this automatically set up, so are all set -- but those of you who don't, the service team as well as the custodians, will be starting to contact you to be sure those are taken
- There is a 25% penalty (recently reduced from 50% due to the SECURE Act) for not taking your RMD
- If you don't need the money for general living expenses, you can move it into a brokerage account and keep it invested
Have questions about these year-end considerations or want to review your personal situation? We're here to help, reach out to us here.
NoBondsCast: Financial Strategies for the 50-Year-Old Investor
In our latest NoBondsCast episode, Ben Beck, CFP® and Jim Bode tackle the unique financial challenges facing 50-year-old investors. We explore the "sandwich generation" pressures, the critical difference between tax preparation and tax planning, investment optimization strategies, and the importance of building what we call a "contingency fund" versus a simple emergency fund.
With thoughtful planning now, many 50-year-olds can create significantly more flexibility for their future selves, potentially avoiding difficult choices like downsizing or compromising on retirement dreams.
Watch the latest NoBondsCast episode on Youtube
Meet Bon Bon BOOM: Bonnie's Unexpected Adventure
By Bon Bon Boom (Bonnie Barley)
Client Services Manager
Let's play a game of "Two Truths and a Lie" about our own Bonnie Barley, Client Services Manager in our Traverse City, Michigan office for over 20 years:
- I recently got my first tattoo.
- I was once asked to sing with the band onstage at a bar in Detroit.
- I joined a Roller Derby team.
I'm just too frugal to pay for a tattoo, so that is the lie! And #2 is true, although I was too embarrassed to follow through and sing.
That means #3 is also true. I can say with certainty that no one who knows me well would ever suspect this to be something I'd do.
Oddly, being a roller derby girl was always on my bucket list. I don't even know why... I didn't grow up knowing anything about roller derby, nor had I ever seen a bout. The irony here is I've never been athletic, never played a team sport, I am not particularly fit, and, oh... I can't skate.
My husband has always known my incongruous desire to be a derby girl, so he surprised me with roller skates this last Christmas. Then, improbably, a casual acquaintance who played derby encouraged me to attend a practice. In a moment of insanity, I agreed.
I was nearly paralyzed with doubt as I sat in my car stalling before that first practice, enumerating the reasons why this was a terrible idea. I am too old (60s), I am too fragile (what if I break a hip?!), I'm not particularly fit (certainly not fit enough for this)...
Read Bonnie's full "Bucket List Dream Becomes Reality" story from Northern Michigan Women
A Final Thought
As we move through September and deeper into fall, we're reminded that transitions come in many forms. Whether you're sending a child to college, advocating for a cause close to your heart, maximizing your year-end savings opportunities, navigating mid-life financial complexities, or simply trying something completely new, each transition offers an opportunity for growth.
At Beck Bode, we believe that thoughtful planning makes these transitions not just manageable, but meaningful. We're here to help you navigate each chapter with confidence.
Wishing you a fantastic autumn season,
The Beck Bode Team