Mass Financial Management

02/09/2026

From our Founder Christina Massalay, CFP®, CPA

Lessons from a Super Bowl Commercial - Succession Planning

I watched Super Bowl LX between the New England Patriots and the Seattle Seahawks without much emotional attachment to either team as I didn’t have a dog in the fight. But one commercial stopped me in my tracks—the Lay's commercial featuring a father-daughter potato-farming family. Check it out - https://www.youtube.com/watch?v=EBnLXlvrNng

On the surface, it was a feel-good ad about potato chips. Look a little closer, though, and it told a much deeper story about hard work, family businesses, retirement, succession planning, generational wealth transfer, and legacy (plus a very cute, impressive dog with what appeared to be an exceptionally long life).

What stood out most wasn’t the product (I will not rush out to purchase Lay’s)—it was the transition.

In the commercial, the father eventually hands over the keys of the farm to his daughter. This wasn’t a rushed decision or a last-minute handoff. She had been prepared for years. By the time ownership transferred, she was confident, capable, and ready to carry forward the legacy he built through a lifetime of work.

For business owners, this is a powerful reminder.

One day, you will also hand over the physical or digital keys to your business to a child, a partner, a management team, or a third party. The real question is: will that transition be intentional or reactive?

1) Have you thought about when you want to step back?
2) Do you know who will succeed you?
3) Have you begun preparing them—not just legally, but operationally and emotionally?
4) Is your succession plan aligned with your retirement goals and estate plan?

Succession planning isn’t just about exit strategies or documents. It’s about preserving the value of what you’ve built, protecting your family, and ensuring your legacy continues the way you intend.

If you haven’t started this conversation yet, or if your succession plan lives only in your head, now is the time. Let’s make sure that when you decide to turn over the keys, everyone involved is ready.

Contact us to begin building a thoughtful, intentional succession plan before the moment arrives.

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02/07/2026

Are you a Solo Ager?

I’ve worked with many clients who are considered solo agers, a term used to describe individuals age 50 and older who are not married, do not have living children, and live alone. For many, this is a choice rooted in independence and freedom; for others, it’s circumstantial due to divorce, widowhood, or family dynamics.

Most solo agers I meet—many of them women— love their lives and value their autonomy. However, a common gap often exists; they haven’t formally named someone to make financial or medical decisions if something unexpected happens.

For solo agers, especially those with complex or substantial assets, planning ahead is essential. Without clear decision-makers and proper documentation, courts or institutions may step in during critical moments—often without knowing your wishes.

If you are a solo ager, approaching that stage of life, or not closely connected to family, there are three steps you should take now:
1. Appoint trusted decision-makers for financial and medical matters—ideally someone reliable, capable, and 10 to 15 years younger, with backups in place.
2. Ensure key documents are in order, including a will, durable power of attorney, health care proxy, and living will.
3. Assemble a strong professional team, such as a financial advisor and estate planning attorney, to provide continuity and advocacy.

Independence doesn’t mean planning alone. Thoughtful preparation ensures your wishes are honored, your assets are protected, and your independence is preserved, no matter what life brings.

We work closely with solo agers to help them plan proactively, protect their independence, and put the right structures in place before they’re needed. If you are a solo ager or approaching this stage of life, we invite you to schedule a conversation to review your current plan and ensure it truly supports the life you’ve built.
https://calendly.com/massfinancialmanagement/15min

02/06/2026

Tax documents are rolling in… and the questions have been too.

As statements arrive (and some are still trickling in), questions about what actually matters and what doesn’t gave also come in.

Before you panic, or forward everything to your CPA, here’s a simple framework:

What to SAVE (critical for filing):
• W-2s and all 1099s (income, investments, retirement)
• Mortgage interest (1098) and student loan interest
• Property tax and charitable contribution receipts
• K-1s (often arrive late so don’t file without them)
• Business, real estate, trust/estate, and alternative investment statements
• Stock compensation and deferred compensation reports
• Foreign income and asset documentation

What to TRACK (planning-focused):
• Year-end investment summaries
• Capital loss carryforwards
• Estimated tax payments
• Retirement & HSA contributions
• Charitable and family gifting records

What you can USUALLY IGNORE:
• Monthly investment statements (year-end matters more)
• Marketing notices
• Duplicates already received electronically
• Informational letters that don’t report income, taxes paid, or contributions

If a document doesn’t show income, taxes paid, or contributions made, it’s often informational only.

One Common (and Costly) Mistake
Many people assume that if they didn’t receive a form, the income “doesn’t count.” Unfortunately, the Internal Revenue Service (IRS) receives copies as well. If income was earned or a transaction occurred it is generally reportable, even if a document is delayed.

A Simple System That Works
To stay organized:
• Create one folder (digital or physical) labeled “2025 Tax Documents”
• Save documents as they arrive, especially K-1s and alternative investment reports
• Flag complex items early and coordinate with your advisor and CPA

Early organization often leads to better planning opportunities, not just fewer headaches.

If you have questions about how your tax documents fit into your broader financial plan schedule a meeting https://calendly.com/massfinancialmanagement/15min

01/19/2026

A Day to Reflect and Act...

Dr. Martin Luther King Jr. Day invites both reflection and action. It’s an opportunity to assess not just where we stand socially, but how we are preparing financially to support the people and causes that matter most to us.

Legacy is not built in a moment. It is built through consistent, intentional decisions over time.

As we honor Dr. Martin Luther King Jr., may we consider how our financial plans can reflect our values, support our families, and contribute to a more just and hopeful future.

Happy Dr. Martin Luther King Jr. Day!

01/12/2026

Plan Now to Protect Later...Rethink Long-Term Care

Long-term care is a critical, yet frequently overlooked, component of a comprehensive financial plan. It encompasses services that help individuals with daily activities such as bathing, dressing, eating, or managing cognitive impairment. This care is often needed later in life and can last for years.

Many people delay or completely forgo long-term care planning because they believe it is too expensive or assume they will “figure it out later.” In reality, the cost of care during our senior years can be staggering. Nursing homes, assisted living facilities, and in-home care services can quickly erode savings and place significant financial and emotional strain on families.

By contrast, planning ahead—often earlier than people expect—can make long-term care far more manageable. Implementing long-term care insurance or other planning strategies at a younger age may help reduce monthly costs, provide more coverage options, and offer greater peace of mind. Just as importantly, it allows families to focus on care and quality of life rather than financial stress during already difficult moments.

Long-term care planning isn’t just about protecting assets, it’s about preserving dignity, independence, and choice. It’s about ensuring that the burden of care doesn’t fall unexpectedly on loved ones, and that your financial plan supports you through every stage of life.

It’s never too early to start the conversation. Including long-term care as part of your financial plan today can help reduce both financial and emotional burdens in the future for you and for those you care about most.

12/31/2025

How are you managing your dreams?

Not just your financial goals, but your life dreams. The experiences you hope to have, the memories you want to create, and the moments that make life meaningful. The trips with family and friends. The celebrations. The big purchases. The concerts, shows, and spontaneous “yes” moments that bring joy and connection.

Too often, we tell ourselves, “I’ll do that later.” Later becomes retirement. Later becomes when the kids are grown. Later becomes when work slows down or life feels more predictable. But what if later doesn’t arrive the way we expect?

As 2026 approaches, it’s a powerful moment to pause and ask: How am I managing my dreams today? What can I do now to move closer to them, and who might help support me along the way?

This question stayed with me after reading an article titled “My Wife and I Planned Our Retirement Perfectly. Then She Got Sick.” One line in particular lingered: “…I wish we had managed our dreams differently.” The author and his wife did everything “right,” carefully planning for retirement in terms of timing, investing, and saving. But just four years after retiring, life took an unexpected and devastating turn.

Many of us live this way, delaying meaningful experiences until a future milestone: after retirement, after the kids finish school, after life feels less busy. But the truth is, none of us are guaranteed that timeline. A balanced approach — one that allows room for both planning and living — is often the healthiest way forward. Don’t put off what you can do today for a tomorrow that isn’t promised. Book the trip. Go to the concert. Celebrate the milestone. Live your life as it’s happening.

This year before reading this article, I experienced this lesson firsthand. I had added ringing the closing bell at the New York Stock Exchange (NYSE) to my bucket list, one of those dreams I assumed might happen someday. Then, in July, I received a completely unexpected email from a colleague, someone who had no idea this was even a dream of mine, inviting me to attend a NYSE Closing Bell event.

I said yes without hesitation, knowing that some dreams deserve priority.

While I didn’t personally ring the bell that day (it’s coming), going behind the scenes, listening to presentations, eating a very large chocolate chip cookie (very tasty), watching Calamos ring the closing bell, networking, and seeing the action on the floor made my day! It was a joyful reminder that managing your dreams doesn’t always mean waiting for the “perfect” moment, it could also mean recognizing opportunities when they appear and making room for wonder along the way.

What are you doing to manage your dreams? What’s one small step you can take today, one experience you can plan, one opportunity you can say yes to, one joy you can stop postponing?

You don’t have to wait until 2026 to make this a resolution. Happy New Year in advance!

08/12/2025

Tax Planning in the Off-Season...

While most taxpayers only think about tax planning in the weeks before April 15, the smartest strategies happen now in the off-season. With the recently passed One Big Beautiful Bill Act (OBBBA) locking in several key provisions, there’s an opportunity to position yourself for maximum benefit before the next tax year.

Below is a breakdown of notable changes and what they could mean for you.

1. Tax Rates Locked In
- Permanent Rates: The marginal tax rates that were set to expire in 2026 are now permanent—37% top rate for individuals and trusts, 21% for corporations.
- High-Income Deduction Limits: If you’re in the 37% bracket, itemized deductions will be capped at a 35% benefit (35 cents on the dollar).

2. Business Owner & Investor Advantages
- QBI Deduction Made Permanent: Pass-through entities and ordinary dividends such as REITs can permanently claim the 20% Qualified Business Income deduction.
- Estate & Gift Tax Certainty: Exemptions will be $15 million starting in 2026, increasing with inflation.

3. Temporary Opportunities (2025–2028)
Some deductions are here for a limited time, creating a short-term planning window effective for 2025 through 2028:
- Personal Auto Loan Interest: Up to $10k deductible for a qualified personal use vehicle. A qualified vehicle is a car, minivan, van, SUV, pick-up truck or motorcycle, with a gross vehicle weight rating of less than 14,000 pounds, and that has undergone final assembly in the United States. Phase outs apply. You do not need to itemize to qualify for this deduction.
- No Tax on Qualified Tips: Up to $25k deductible, deduction phases out above $150k ($300k MFJ). Qualified tips are voluntary cash or charged tips received from customers or through tip sharing. Deduction is available for both itemizing and non-itemizing taxpayers.
- No Tax on Overtime Pay: Up to $12,500 of overtime pay is deductible ($25k MFJ) but this deduction begins phasing out at $100 per $1,000 for individuals with AGI greater than $150k for single filers ($300k MFJ). This deduction only applies to overtime income in excess of the employee’s base rate. For example, if an employee’s base rate is $50 / hour and they are paid time and half (or $75) for overtime hours, only the $25 in excess of their base rate is tax deductible.
- Additional Deduction for Seniors: Starting in 2025, taxpayers aged 65 and older can claim up to $6,000 ($12,000 MFJ) extra in addition to the standard deduction, phasing out above $75k MAGI ($150k MFJ).

4. Changes That May Require Adjustments
- SALT Deductions: The State and Local Tax deduction cap was temporarily increased to $40k from $10k from 2025 through 2029. It will increase by a fixed rate of 1% through 2029. The limit will revert to $10k in 2030. Phaseouts apply.
- Green Energy Credits Ending: Electric vehicle (EV) and solar credits will sunset in 2025, with EV credits ending September 2025 and certain solar credits ending in December 2025.

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07/14/2025

Education Savings under the One Big Beautiful Bill Act (OBBBA)

President Trump’s One Big Beautiful Bill Act (OBBBA) was signed into law on July 4th bringing major changes across taxes, and spending cuts. One of the major updates is to education savings, including expanded 529 plan benefits and a new kids’ savings program. The changes and what it means for your family’s financial planning is below:

529 Plan Enhancements
529 plans, already a smart way to grow education savings tax-free, just got more powerful:
- K-12 Limit Doubled: Annual tax-free withdrawals for K-12 qualified education expenses doubled to $20,000 from $10,000 and now include non-tuition costs like tutoring, fees for nationally standardized tests, online educational materials, and special needs services. Please note that the tax treatment varies by state. For example, New York considers K-12 distributions nonqualified and may require you to repay state tax benefits.
- Workforce + Continuing Ed: 529s can now cover more non-traditional programs, including workforce training, certification exams, and continuing education listed under federal or state career development programs. Professionals should now open 529 accounts and use them as career savings plans to pay for expenses related to obtaining or maintaining post-secondary credentials.
- Achieving a Better Life Experience (ABLE) Accounts: The new law permanently allows designated beneficiaries who make qualified contributions to ABLE accounts to qualify for the saver’s credit and permanently allows tax-free rollovers from 529 qualified tuition programs into qualified ABLE accounts. This helps individuals with disabilities save more flexibly.

New Kids’ Savings Option: Trump Accounts
Starting in 2026, parents, grandparents, relatives, or employers can contribute up to $5,000/year to new Trump Accounts for children under age 8. Gifts directly from governments or qualified charities are exempt from the cap. The funds are invested in a diversified U.S. equity index fund, grow tax-deferred, and can be used for:
- Higher education
- First home purchases
- Small business startup costs

Each eligible child born between Jan 1, 2025, and Jan 1, 2029 and who is a U.S. citizen, will receive a $1,000 federal deposit at birth. Qualified withdrawals are taxed at long-term capital gains rate and non-qualified withdrawals are taxed as ordinary income along with penalties. Distributions are allowed after age 18. Please note that this account is not the same as a 529 account, which allows tax deferred and tax-free treatment for qualified education expenses only.

What Stays the Same
529 contributions still grow tax-free for qualified education
Lifetime contribution limits remain state-specific
Unused funds can be rolled over to a Roth IRA (up to $35,000)
Non-qualified withdrawals are still taxed + 10% penalty

Let’s talk about how to update your strategy based on these changes.

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06/23/2025

Should I Stay or Should I Go?

The Clash asked the question, and so are many premium credit card holders. The iconic song—featured in Iron Man 2, Stranger Things, and more—is striking a chord with consumers facing rising credit card fees, especially as luxury cards become more expensive to hold.

One of the most talked-about increases is the Chase Sapphire Reserve, a popular premium travel card known for perks like airport lounge access, travel credits, and elevated rewards on dining and travel. As of today, new cardholders will pay $795 annually, a sharp rise from the previous $550. Existing cardholders will see this change take effect in October.

If you're comparing alternatives, here's where the competition stands:
- Bank of America Premium Rewards Elite: $550/year
- American Express Platinum: $695/year
- Citi®/AAdvantage® Executive World Elite Mastercard: $595/year
- AmEx Centurion (Black Card): Invite-only, $5,000 annual fee + $10,000 initiation fee

At a glance, the Chase Sapphire Reserve is now one of the most expensive widely available premium travel cards—edging even higher than American Express’s Platinum.

But is the value there?

According to a recent Wall Street Journal article, the Consumer Financial Protection Bureau (CFPB) reported that $33 billion in rewards went unclaimed in 2022. That’s billions in perks sitting unused, suggesting that many cardholders may not be maximizing the potential of their benefits.

Premium cards often reward you only if you spend more—which means to really “win,” you have to be intentional about how and where you use your card. For some, the points earned on travel or flight redemptions easily outweigh the annual cost. But for others, especially those juggling multiple credit cards and dividing their spending, the value proposition gets diluted.

So, ask yourself:
- Are you using all the perks your card offers?
- Are you spending enough in the reward categories to justify the fee?
- Could consolidating your purchases on one card offer better rewards?
- Would a no-fee or lower-fee card better match your spending habits?
Are you staying or going?

If you’re unsure whether your premium card still aligns with your goals, it might be time for a rewards checkup. Sometimes, the right financial move is as simple as dropping the card that no longer earns its keep.

06/17/2025

The FARE Act: A Win for Renters, a Shift in Strategy for Landlords

On June 11, 2025, the Fairness in Apartment Rental Expenses (FARE) Act went into effect in New York City, mandating that landlords—not tenants—must now cover broker fees in residential leasing transactions. Historically, tenants paid this fee in addition to the first month’s rent and security deposit. The policy change is expected to reduce upfront move-in costs by as much as 42%, according to The Wall Street Journal.

While this may appear to be a victory for renters, the impact on the real estate market, particularly in high-demand urban centers, warrants a closer look. Landlords are already responding by adjusting rental rates to offset the new obligation, which means the cost is likely to be redistributed rather than eliminated.

Whether you are a renter, real estate investor, or landlord, this legislative change presents an opportunity to reevaluate real estate strategies:

- Real Estate Allocation Review: If you have multi-family or rental property exposure, this is a good moment to assess portfolio performance and cash flow assumptions in light of potentially higher tenant turnover or slower lease-up times.

- Tax Strategy Alignment: Shifting expenses between landlords and tenants may create new opportunities for tax deductions or adjustments in property-related write-offs.

- Lease Structuring Guidance: Landlords may need to rework lease agreements to remain competitive while protecting profit margins.

- Cash Flow Planning: For renters relocating to premium markets, advisors can help incorporate reduced upfront costs into broader liquidity and investment planning.

- Real Estate Opportunity Mapping: If you are looking to expand your real estate holdings, understanding how regulatory changes may affect rent pricing and tenant demand can inform acquisition timing and location.

As policies evolve, so too should your financial plan. Legislative changes like the FARE Act serve as timely reminders of how even small shifts in regulation can affect broader financial strategies.

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05/26/2025

Their Sacrifice, Our Gratitude: The Heart of Memorial Day

Memorial Day, originally called Decoration Day because people decorated the graves of fallen soldiers with flowers, wreaths, and flags, began after the Civil War as a way to honor those who died in battle. Over time, it evolved into a national day of remembrance for all U.S. military personnel who gave their lives in service. It's a day marked not by celebration, but by reflection—on the cost of freedom, the pain of loss, and the gratitude we owe to those who answered the call of duty and never came home.

Why It Matters
In a world that moves fast, Memorial Day invites us to slow down and think about the lives behind the uniforms—the fathers, mothers, sons, daughters, siblings, and friends whose dreams and futures were cut short. Their sacrifice reminds us that the freedoms we enjoy are not free; they were secured through courage, commitment, and an unwavering sense of duty.

The Connection Between Service and Stewardship
In wealth management, we talk a lot about legacy—how we use our resources not just for our benefit, but to make a lasting impact on those we love and the causes we care about. Memorial Day reminds us of the ultimate legacy: the selfless service of individuals who gave everything for the good of others.

Just as they made intentional choices in service to a greater mission, we too are called to be intentional—with our time, our values, and our finances. Financial planning isn’t just about accumulation; it’s about stewardship. It’s about aligning our wealth with our purpose and ensuring that our lives—and the resources we’ve built—honor something greater than ourselves.

Ways You Can Honor the Fallen
This Memorial Day, consider ways to honor the memory of our fallen heroes:
- Observe a moment of silence. The National Moment of Remembrance takes place at 3:00 p.m. local time.
- Learn their stories. Read about those who served, visit a veterans’ cemetery, or support organizations that help military families.

Wishing you a meaningful and reflective Memorial Day.

05/19/2025

Ever wonder why people follow the crowd—even when they know better?

Psychologist Solomon Asch proved just how powerful group pressure can be: 75% of people in his study gave a clearly wrong answer just to stay in line with others.

That kind of influence doesn’t just happen in a lab. It happens every day in finance. Think about trend chasing—investing in crypto, tech stocks, or real estate deals simply because your peers are doing it.

There’s nothing wrong with these investments—but only if they truly fit your financial goals.

Want to know if your strategy is really yours? Let’s talk.