Estate planning for parents with young children presents a variety of challenges and opportunities.  Here is a series of questions and answers to help address some of the key issues involved.

If I Have Children, Do I Need To Make Special Provisions For Them In My Will?

If you have children, there are two key things to think about when drafting your Will.  The first is who you want to put in charge of managing the assets that you leave to them.  The second is who you want to act as their guardian.

What Are The Options For Managing The Assets My Children Receive?

The two most common options are to leave the assets to your children in trust or to direct that they be placed in a Uniform Transfers to Minors Act account.

How Would a Trust For My Children Work?

Every child’s needs are different based primarily on their maturity level and capabilities, and the trust provisions can be tailored to address those factors.  For example, you can choose to have trust distributions to or for the benefit of a child on a monthly basis.  As an alternative, you can choose to have percentages of the trust funds be distributed at different ages, i.e. the first third at age 21, the second third at age 25, and the final third at age 30.  In addition, you can also choose to simply leave the discretion as to distributions to your trustee to make as they see fit.  What type of trust structure is best can be determined by consulting with an estate planning professional.

Who Would The Trustee Be And What Do They Do?

The trustee would be someone you name in your Will to manage the trust you leave behind for your children.  People generally choose a close family member or friend to act in this capacity.  You can also choose an institutional trustee, such as a trust department at a local bank.  The trustee has the obligation to responsibly manage and invest the trust assets.  They must also make distributions to or for the benefit of your children pursuant to the terms of the trust.

What Is A Uniform Transfers To Minors Act Account?

A Uniform Transfers to Minors Act account – or UTMA account for short – is an account that can be set up at a local bank with a named custodian for the benefit of a child.  This is a useful way to leave money to a young child, without the necessity of setting up a trust.  The custodian, similar to a trustee of a trust, has the obligation of managing the account funds and may make distributions from the account to the child or for the child’s benefit.  When providing for an UTMA account to be set up in your Will, you can direct that the account be paid out to the child either at the age of 18 or 21.  An UTMA account is a useful alternative to a trust, if the amount of money flowing to your child is a relatively smaller amount, i.e. $30,000.00 or less.

How Does The Appointment of a Guardian For My Children Work?

If you pass away and there is no surviving parent to care for your children, then you can name your choice for a guardian of your children in your Will.  The named guardian will have to seek appointment from the court as guardian, but the court will likely give strong weight to your preference.

Does The Guardian Control The Assets I Leave To My Children In My Will?

If you leave your assets in trust, with a named trustee, or to an UTMA custodian, the guardian of your children will not control those assets – unless you name the same person to be guardian and trustee or custodian.  

Should I Make The Guardian And Trustee/Custodian The Same Person? 

That depends on the individual that you are choosing.  In some cases, you may choose someone as guardian who is a close family member who you know will care for your children like they are their own, but that person may not be good at managing money.  In that case, you may want the trustee or custodian to be someone else who has the appropriate financial acumen.

How Do I Ensure There Are Sufficient Funds To Take Care Of My Children?

Obtaining term life insurance is an excellent way to ensure there are sufficient funds to take care of your children, if you pass away when they are young.  The premiums are generally very affordable for appropriate coverage, if you purchase the policies when both you and your children are young.  You can then make your spouse the primary beneficiary if you pass away, and you can make your estate the secondary beneficiary.  If your spouse predeceases you, then the money will flow into your estate and fund the trusts or UTMA accounts you established in your Will.

What Other Issues Are Relevant To Estate Planning With Young Children?

There are a variety of other issues to consider when estate planning for parents with young children.  For example, if a child is disabled, there may be a need to establish a guardianship by the parents of that child which will continue into the child’s adulthood.  There may also be a need to establish a special needs trust, which will provide support for the child without jeopardizing their eligibility for governmental benefits.  These issues and others can all be addressed with an experienced estate planning professional, in order to determine what options are best for your family.

Matthew J. Dorsey, Esq. is a Partner with O’Connell and Aronowitz, 1 Court St, Saratoga Springs. Over his 26 years of practice, he has focused in the areas of elder law, estate planning, and estate administration. Mr. Dorsey can be reached at 518-584-5205, mdorsey@oalaw.com and www.oalaw.com. 

Almost one in five adult Americans—roughly 48.3 million in total— have played pickleball in the last year according to the Association of Pickleball Professionals (APP). This represents a 35% increase over the year before.

While pickleball is a fun sport and a good way to get physical activity, research also indicates that pickleball injuries are on the rise. This makes it important to find ways to prevent injuries and play the game safely.

What’s Behind the Rise in Pickleball Injuries?

There are a couple of factors that may contribute to the number of injuries in pickleball.

The first is that the general physical activity level over the previous three years has been reduced because of Covid, so for some, starting to play pickleball has resulted in a rather sudden increase in physical activity, which is one of the risk factors we see for injuries in many other sports.

Even if you were physically active before, the pandemic may have impacted your ability to get back into regular

exercise. Studies show that many recreational and elite athletes now face detraining as a result of community lockdowns during the COVID-19 pandemic. And if you contracted the virus, you may face additional challenges when starting or returning to pickleball such as those related to fatigue, cognitive issues, and virus- related cardiopulmonary effects.

Another factor that is likely contributing to an increase in pickleball injuries is that not everyone has a racquet sports background. In other words, you may not be used to or familiar with the typical upper extremity (upper body) movements executed when playing, such as those affecting your shoulders, elbows and wrists. You might also not be familiar with lower extremity (lower body) movements used during pickleball, like moving side-to-side on the court.

If your body isn’t used to moving around in this way, it may not be prepared, opening the door for injury during the game.

Common Injuries in Pickleball Players

What areas of your body are most at risk for an injury when playing pickleball? For the upper extremity, elbow and shoulder injuries are the most common, with lateral epicondylopathy (tennis elbow) and rotator cuff strains being the specific diagnoses. There are a lot of wrist and elbow movements in racquet sports like pickleball, which can overload the muscles leading to an injury.

In this way, pickleball injuries are similar to those experienced when playing tennis. They share similar biomechanics with paddle swings and moving on the court.

For some players, it is their lower body that becomes injured. For the lower extremity, patellar tendon over use and ankle sprains are common injuries. The quick movements forward and backward, plus the squats and lunges at ‘the kitchen’ (the non- volley zone on either side of a pickleball net) can lead to overloading of the patellar tendon. And with the quick movements, ankle sprains can occur as well when reacting to the game.

The low back is another area where it is common to develop a pickleball injury. There are a lot of squats and lateral lunges during dink rallies (soft, low shots), which can overload the muscles around the low back, leading to low back pain.

Additionally, overhead smashes can lead to irritation of the facet joints leading to extension-related low back pain.”

Injury Prevention Tips

What can you do to prevent common pickleball injuries and practice the sport safely? Here are some tips to consider.

• Do warm up. While you may be tempted to just step on the court and play, not allowing your body to properly warm up could increase your injury risk. Aim for a 5 to 10-minute warm-up and include some light cardio movements along with shoulder exercises such as arm circles.

• Don’t overdo it. “It’s not uncommon to start playing pickleball multiple days in a row for several hours, which can result in a sudden increase in load, increasing the risk of injuries. So, gradually increasing the amount of load can be a useful strategy, making sure that there are recovery days so that the body can adapt.

If you play pickleball one day, take the next day off. Give your body time to recover from the activity.

• Do strength training exercises. Another way to prevent pickleball injuries is to condition your body so it can better tolerate the increased load. Strengthening exercises for the rotator cuff, core and knees are all areas that people playing pickleball would benefit from.

Taking these steps can help you continue to play the sport you love without injury, while also satisfying you socially. Not only is pickleball a lot of fun, but the community surrounding it is great.

There’s a great social aspect of playing with friends and meeting new people.

Dr Matt Smith has been a Chiropractor in Saratoga Springs for 36 years. He and his daughter Dr Kevy Smith Minogue can be reached at 518 587-2064 or at MySaratogaChiropractor.com.

The path toward financial success is a personal journey, shaped by individual aspirations, responsibilities, and circumstances. However, one universal aspect that one must embrace is the importance of setting financial goals. 

By setting clear, well-defined objectives, financial planning becomes more structured, effective, and ultimately helps pave the way toward long-term prosperity. In this article, we will discuss the significance of establishing financial goals and the transformative impact they can have on one’s finances. 

Setting financial goals acts as a compass, helping to guide you toward your desired financial destinations. Without such goals, you may wander aimlessly, struggling to identify the purpose behind your financial decisions. 

Clear goals offer a sense of direction, allowing you to prioritize your spending, saving, and investment decisions based on what you truly value, enabling you to make purposeful choices aligned with your long-term aspirations. 

Setting financial goals helps provide powerful motivation to take control of your personal finances and forge ahead with determination. Tangible, achievable targets fuel the motivation required to develop and maintain healthy financial habits. 

Whether aiming to pay off debt, save for a down payment on a home, or establish an emergency fund, clear goal-setting helps instill a sense of purpose and helps keep you motivated during challenging times, resist impulsive spending, and stay on track. 

Regularly assessing progress toward your financial goals provides a valuable metric to measure one’s financial wellbeing. It helps enable you to track savings, investment returns, and overall wealth accumulation over time, helping you to remain on the right path toward your goals. 

Progress tracking helps to highlight areas where improvement may be needed, boosts financial self-awareness, and helps to motivate you to make adjustments to stay aligned with your goals. 

Goal-setting helps to facilitate prudent resource allocation, helping to ensure that income is strategically allocated to meet short-term needs and long-term financial objectives. By prioritizing financial goals, you can help better organize spending patterns, reduce unnecessary expenses, and free up funds for goals that have higher significance. 

With this approach, individuals can strive for a balanced financial portfolio, addressing immediate obligations while funding future goals concurrently. 

As crucial as financial goals are in driving long-term prosperity, they also contribute significantly to reducing financial stress. The clarity and structure provided by goal-setting help alleviate financial anxiety by offering a clear roadmap for managing personal finances. 

Achieving milestones along the way, no matter how small, helps contribute to a sense of accomplishment, fostering an overall healthier relationship with money. 

Setting financial goals is an instrumental step towards achieving financial security, freedom, and empowerment. By creating a roadmap to guide decision-making, goals provide direction, enhance motivation, measure progress, allocate resources effectively, and alleviate financial stress. 

Ultimately, the process of setting and striving towards financial goals can help you gain control over your financial well-being and helps enable you to make intentional choices to build a robust financial future. 

So, work closely with your Certified Financial Planner® professional and take the time to identify your aspirations, define your financial goals, and embrace the transformative power of focused financial planning.

Stephen Kyne, CFP® is a Partner at Sterling Manor Financial, LLC in Saratoga Springs. Securities offered through Cadaret, Grant & Co., Inc. Member FINRA/SIPC. Advisory services offered through Sterling Manor Financial, LLC, or Cadaret Grant & Co., Inc., SEC registered investment advisors. Sterling Manor Financial and Cadaret Grant are separate entities.

Today all of my children are back at school, and none too soon, as the last few weeks have been characterized by insufferable, unending arguing.

My kids certainly have their fair share of arguments in the normal way of siblings, especially since so many of them think they’re experts on everything all the time, but it hasn’t been so pervasive, so constant, so ridiculous, as it has been in the last month or so. Any time any of the boys has said anything at all, without fail another of the boys has landed on them with all the reasons why they’re wrong or dumb. 

Innocent mistakes aren’t safe. For example, Number 2 commented recently, “I keep thinking today is Friday!” and Number 6 immediately said scornfully, “Why do you keep thinking today is Friday??” Then the two of them were off and running with a back-and-forth argument about why sometimes people fall into thinking a certain day is a different day and no, it’s not a stupid thing to think, you’re stupid, no you are, etc.

Observations aren’t safe. For example, Number 5 said to Number 6, “Isn’t it weird that we don’t all have the same brothers?” Number 6 thought about this for a minute and then realized it was true. “Oh yeah!” he said. “Because you are my brother, but you’re not your own brother!” I was so pleased that this conversation — normally the kind of thing that would immediately devolve into an argument — went so nicely … until Number 4, who wasn’t part of the conversation, said aggressively, “Yes we do have the same brothers!” and the three of them were off and running with a back-and-forth argument about why it’s true, no it’s not true, yes it is true, you’re stupid, no you are, etc.

Opinions aren’t safe. I cannot tell you how many times I’ve heard the boys squabbling over matters of opinion. Whether something is delicious or not. Whether a particular TV show or YouTube channel is interesting or not. Whether someone is cold, or hot, or hungry, or bored — things that are subjective, things that are matters of opinion, things that can be true for one boy and not for the other boy at the exact same time. There have been so many times that I’ve had to remind them that they’re each allowed to have their own opinion; just because you think something tastes gross doesn’t mean your brother has to agree with you; yes you can think someone else’s opinion is ridiculous but they’re still allowed to have it. I’ve taken the opportunity when I can to explain the difference between informed opinions versus uninformed opinions, but when it comes to one boy preferring his hot dog without a bun versus the other boy preferring it with a bun, no one is objectively right.

Creativity isn’t safe. Number 7 gave the inexplicable name “Artra Star” to a spider on our window, which several of his brothers told him was a dumb name and decided it was a hill they would die on. 

It’s even gotten to the point where no one will be saying anything at all that can be disagreed with, so someone will create an argument out of thin air, just to bother each other. Like when Number 6 said to Number 7, out of the blue, for no other reason than to bother him: “You are cheese. You look like cheese, you smell like cheese, you taste like cheese.” Number 7 immediately took the bait, saying, “I am not cheese! Cheese doesn’t even have a smell” (as if that’s the real issue here!). Number 6 replied calmly, “To me it does.” My husband, sensing an escalation, tried to diffuse the situation by teasing Number 7: “Everyone knows you’re a donut!” But Number 7 would not be soothed — instead, he wailed, “I am not food!” and then started crying, “Everyone is making fun of me!”

These are all real examples — as the weeks of arguing dragged on, I started keeping a list of these arguments in a notebook and on my phone, and even with that, I was only able to capture a fraction of what we’ve all had to deal with as the summer has wound down. I’ll be happy for everyone to have time away from each other as we head back to school, and I’ll delight in seeing how happy they are to be back together at home after busy days away. They really are good boys, and they really do enjoy spending time together — as long as none of them make the mistake of thinking today is a different day than it actually is!

Kate and her husband have seven sons ages 18, 17, 15, 13, 11, 9, and 4. Email her at kmtowne23@gmail.com.

I cannot believe we’re thinking about back-to-school already. Already! Summer’s barely begun, hasn’t it? Does it feel to you like, just when you get settled in the summer routine, it’s time to figure out the school routine again?

Not that our summer has been slow! We’ve been busy! Since school ended seven weeks ago, we had almost two weeks away — one, almost a week with our extended family at the ocean; the other, time spent at our favorite lake. We’ve had summer job schedules to coordinate: mine and my older boys’. The little boys had two weeks of swimming lessons during two of my busiest work weeks. Figuring out how to get people to and from their jobs and swimming lessons on time required incredibly detailed written-out instructions for my own use (“Leave the house at 12:40 to bring so-and-so to work a few minutes early in order to pick so-and-so up on time”; “Be dressed for work when going to get so-and-so from work at 4:00 so I can leave directly after dropping him off at home”) and panicky texts to my parents (“Could one of you bring nos. 2 and 3 to work at 8:50 and pick them up again at 1:00 so I can bring no. 1 to work at 9:00 and the little ones to swimming at 12:50?”; “Okay if I leave the little guys with you from 11:00-2:30 while I’m at my lunch meeting?”). Driving to and fro, back and forth across town and up and down the Northway, is its own kind of bananas!

In addition to work and swimming lessons, we’ve also done:

• Summer reading: the older boys all have required reading for school with associated written assignments that they’ve been working on all summer. I’m a big fan of summer reading! For the younger kids, I usually start each summer reading Charlotte’s Web out loud, but this summer my nine-year-old asked for Charlie and the Chocolate Factory, so we had fun working through that and then watching the old Gene Wilder movie version (1971) and the newer (creepier!) Johnny Depp/Tim Burton movie version (2005). I’m going to try to get through one more book before school starts, though I haven’t decided yet which one (maybe Charlotte’s Web after all!).

• Older-boy movie nights: My seventeen-year-old really wanted us to watch the Marvel movies *in order* (he was very serious about them being viewed *in order*) and since there’s about a zillion of them, and it’s summer, we’ve watched one most nights after the little guys have gone to bed. So fun! My husband usually makes popcorn and we turn off the lights (the little boys get their own movie nights!).

• Time with friends: We have already done and have planned more time with friends — for both kids and adults!

• Birthday celebrations: Two of the boys, my mom, my brother, my sister-in-law, both my brothers-in-law, my one and only niece, and myself have birthdays in the summer … and also my newest nephew, who is only three weeks old! We’re so excited to have another baby in the family!

• Non-swimming sports: The boys have played basketball, soccer, and ultimate frisbee alone and with friends, but our biggest summer sport as a family, besides swimming, is running. Many of us will be participating in a 5K this month, and there’s some combination of us running alone or with others nearly every day of the week.

• Video games: During the summer, I try to make sure we stick to our just the weekends/one hour at a time/no more than two turns a day video game rule, though I will often bend for rainy days and when we’re away on vacation. One of the boys got a refurbished Wii for his birthday and everyone’s been enjoying the old-school Wii Sports and making Miis. All of our family and friends are represented in our Mii Plaza, and many movie characters as well! 

As much as I love not having the stress of getting everyone up and out the door with all their school papers signed and lunches packed at the crack of dawn, I also love a busy summer. I feel good that we’ve had time to rest, time to have fun, time with family and friends, and time to work. It’s been a good summer.

I don’t hate school starting again, though! Though I don’t love getting up early, I do love the predictability and rhythm of school days. On the most oppressive days of summer heat, I long for the fall, and nothing says fall’s coming like school starting! This school year is a year of milestones for us as well:

• My youngest is off to Kindergarten! For the first time in nineteen years, I won’t have anyone at home during the day from Monday to Friday. 

• My second is entering his senior year of high school! I’ve barely recovered from the emotional stress of planning for and sending my oldest off to college, and now we have to do it all over again. I’d thought it might be easier after the first of our kids; so far that’s not the case.

• My fifth is headed to middle school! I will only have two left in elementary school, and the fact that my sixth is now our family’s oldest boy at his school blows my mind.

This is not to diminish the other boys’ new school years! In addition to the senior, sixth grader, fourth grader, and Kindergartener mentioned above, I also have a sophomore and eighth grader, and my oldest is heading into his second year of college. The new school year is such a marker of the passage of time.

There’s nearly four weeks left until school starts — enough time to bring in some more summer paychecks and for another quick trip to see out-of-town family, some more movie nights, more ice cream runs, more swimming at the lake, and to move my oldest back into the dorm. The next time I write, school will be starting! I hope you all have a good end to your summer.

Kate and her husband have seven sons ages 18, 17, 15, 13, 11, 9, and 4. Email her at kmtowne23@gmail.com.

Early detection of vision problems: Regular eye exams for children are essential because they help detect vision issues early on. Many eye conditions and refractive errors (such as nearsightedness, farsightedness, and astigmatism) develop during childhood. Identifying these problems early allows for prompt treatment, which can significantly improve a child’s visual development and overall eye health.

Academic performance and learning: Good vision is crucial for a child’s academic success. 80% of learning occurs at near range. Undiagnosed vision problems can lead to difficulties in reading, writing, and learning in general. An eye exam can identify and address any visual impairments that may be hindering a child’s ability to perform well in school.

Eye health assessment: Eye exams also check for general eye health issues, including eye diseases like amblyopia (lazy eye), strabismus (crossed eyes), and more severe conditions like cataracts or glaucoma. Detecting and treating these conditions early can prevent long-term complications and vision loss.

Binocular vision assessment: An eye exam evaluates how well a child’s eyes work together as a team (binocular vision). Problems with eye coordination can lead to issues like double vision or poor depth perception, affecting a child’s ability to participate in sports and other activities.

Digital device use: With the increasing use of digital devices (smartphones, tablets, computers), kids are exposed to screens more than ever. Regular eye exams can address issues related to digital eye strain, focusing problems and potential long-term effects on eye health.

Developmental monitoring: Eye exams are part of routine developmental checks for children. They help identify any vision-related developmental delays or abnormalities, ensuring that the child receives appropriate care and intervention if necessary.

Prescription updates: If a child already wears glasses or contact lenses, regular eye exams are vital for updating prescriptions. As a child grows, their vision may change, and regular adjustments to corrective lenses are necessary for optimal visual performance. Typically vision changes accompany growth spurts.

Point of fact: Regular eye exams for kids are critical for detecting and addressing vision problems, promoting healthy eye development, ensuring academic success, and preventing long-term complications related to eye health. The National Institute of Health recommends that children have their first comprehensive eye exam around the age of 6 months, followed by subsequent exams at age 3, and then before starting school. After that, annual eye exams are generally recommended, but the frequency may vary depending on individual needs and any existing vision issues.

Susan Halstead is a Nationally and NYS Licensed Optician and Owner of Family Vision Care Center at 205 Lake Avenue in Saratoga Springs. Susan can be reached at Susan@familyvisioncarecenter.com

You’ve got back pain — or shoulder or leg pain, or even a headache — and you’re looking for a doctor of chiropractic (DC) to help with your problem. How do you choose? Selecting the right healthcare provider for your needs is important. Consider the following suggestions to help you narrow the field:

What qualifications should my chiropractor have?

The first step is to ensure that your chiropractor graduated from a school accredited by the Council on Chiropractic Education (CCE). The CCE is the national agency that accredits chiropractic colleges in the United States. It is recognized by the U.S. Department of Education.

Second, make sure that the chiropractor that you’ve selected is licensed in your state. You can also contact the state board to see if any sanctions have been placed on a doctor for state law violations.

In addition, you can find out if a chiropractor is a member of the American Chiropractic Association.

How do I choose the chiropractor that’s right for me?

The best source for finding a good chiropractor is often a referral from a relative or friend who has had good experiences with a doctor. Referral from another healthcare practitioner is also generally helpful. Just as you wouldn’t continue to see a medical doctor who refused to refer you to a good chiropractor for problems with your musculoskeletal system, you should also refrain from selecting a chiropractic doctor who refuses to send you to an MD when necessary.

A good chiropractor might offer you safer and more effective non- drug and/or nonsurgical approaches to your problems. The chiropractic profession believes in a conservative approach to health care (using non-drug, nonsurgical methods, when appropriate, as first-line therapies) and holism (considering the body as an interdependent whole, rather than focusing only on a single part that is causing pain). Remember that any good chiropractor will address the physical, social, and psychological aspects of your problems with conservative approaches,
as appropriate.

What are the benefits of chiropractic care?

Research shows that proper maintenance of your musculoskeletal system is important to your health. We suspect that pain in the joints caused by a reduction of normal joint motion is a common reason for many nonsurgical musculoskeletal problems. Most chiropractors address these problems with spinal manipulation, exercise, and other types of active treatment.

Your chiropractor will focus on helping you prevent future episodes of pain and disability, rather than suggesting that periodic, ongoing adjustment of your spine alone will solve your health problems. Depending on your case, a chiropractor may teach you how to maintain your musculoskeletal system through exercise, good posture/adequate movement, and good lifting techniques. He or she may also describe good health habits, such as the elements of a healthy diet. A good chiropractor will evaluate your condition and inform you of your progress at each visit.

What diagnostic procedures are appropriate?

Your chiropractor has many well-documented diagnostic procedures to help evaluate your condition that include asking you questions about your health and giving you a physical examination. Chiropractors may use X-rays to help determine the health of your musculoskeletal system and to see if your body has developed any serious conditions that should be managed by another provider.

There are specific well documented reasons for performing X- rays. A reputable DC will X-ray only the patients who require it. Feel free to question your chiropractor about the need for X-rays in your case, about the percentage of patients who require such screening in his or her office, or about any other diagnostic or treatment procedure that is unclear to you. Remember that it is not a good idea to X-ray you periodically to see if changes in your vertebral misalignments have occurred.

Musculoskeletal problems can exist for many reasons and can occur in any part of the system. A good chiropractor will evaluate your overall health, in keeping with their holistic approach, and will formulate a diagnosis for your condition, as required by most state laws.

How long should my chiropractor treat me?

Any good healthcare provider will work hard to get you out of the office and functioning independently as quickly as possible. Joint manipulation is a wonderful noninvasive procedure in the hands of a skilled doctor of chiropractic. It has been repeatedly shown to reduce pain and help patients function better in daily life.

However, it has not been shown to prevent problems. A good chiropractor can help you prevent musculoskeletal system problems by teaching you how to engage in regular exercise, maintain good posture/movement, and practice other healthy living habits.

There are many good chiropractors available to help you manage your neuromusculoskeletal system with sound, well-documented procedures. As with any other healthcare decision, remember that if it sounds too good to be true, it probably is. Choose a chiropractor you are comfortable with, who addresses your health concerns, and who uses sound principles of modern health care in helping you manage your problems.

Dr Matt Smith has been a Chiropractor in Saratoga Springs for 36 years. He and his daughter Dr Kevy Smith Minogue can be reached at 518 587-2064 or at MySaratogaChiropractor.com.

The decision to get married is undoubtedly one of life’s biggest milestones. However, it’s essential to recognize that weddings are not only emotionally fulfilling but also come with a myriad of financial implications. From the engagement ring to the honeymoon, couples need to be aware of the various costs associated with getting married to ensure a smooth transition into their new life together. I’ll be getting married later this month, so I thought it would be appropriate to share some of the different expenses involved in planning a wedding and provide some practical tips for managing these costs effectively.

1. Engagement Ring:

For many couples, a diamond engagement ring is a symbol of love and commitment. According to industry standards, the average cost of an engagement ring in the United States ranges between $3,500 and $6,000. However, it’s vital to remember that these figures are not fixed and can fluctuate depending on individual preferences, quality, and size of the stone.

2. Ceremony and Reception:

The wedding ceremony and reception are typically the most significant expenses for couples. The costs associated with these elements can vary significantly depending on factors such as the venue, guest count, and desired ambiance. 

On average, couples in the US spend around $30,000 to $40,000 on their wedding. This, of course, depends greatly on the number of guests. This usually includes expenses like venue rental, decorations, catering, entertainment, photography, and videography. However, it’s worth noting that costs can escalate quickly if one opts for a destination wedding or seeks luxurious accommodations.

3. Attire and Accessories:

Suits and gowns, and all the associated accessories, can be essential parts of the wedding budget. Wedding dresses can range from a few hundred to several thousand dollars, depending on the designer, style, and customization. Grooms’ attire, including suits or tuxedos, can vary significantly based on individual preferences and rental versus purchasing options.

4. Wedding Rings:

Wedding bands symbolize the eternal bond between spouses. Pricing for wedding bands can vary widely depending on factors like metal type, design intricacy, and gemstone accents. On average, couples spend around $1,000 to $3,000 on their wedding rings.

5. Photography and Videography:

Capturing memories through professional photography and videography is an important investment for many couples. Costs associated with hiring professional photographers and videographers typically average between $2,500 and $5,000. However, this figure can increase based on the duration of coverage, any additional services, or premium quality packages.

6. Invitations, Decorations, and Favors:

The cost of wedding invitations, decorations, and guest favors may seem trivial compared to larger expenses, but they can add up quickly. On average, couples spend anywhere from $500 to $1,500 on invitations and stationery. Decorations and favors can greatly vary depending on the desired theme and personal preferences. DIY options can be more cost-effective, but they require more time and effort.

Conclusion:

Getting married is an extraordinary journey filled with love and happiness, but it can also come with significant financial obligations. 

From personal experience I can say that TheKnot.com is an amazing resource for planning all aspects of your big day, including budgeting. It even provides the ability to create a personal wedding website with all of your details. Your site can handle virtual RSVPs with meal choices and dietary restrictions, and it generates a comprehensive report for your caterer. 

If you’re expecting your wedding to pay for itself, you may be interested to know that, in New York, the average wedding costs approximately $400 per guest, and the average wedding gift is still roughly $100 per guest. 

By understanding the costs involved and developing a well-thought-out budget, couples can navigate these expenses more effectively. Remember, it’s crucial to prioritize expenses based on personal preferences and financial capabilities to create a memorable wedding while ensuring a solid foundation for your future together.

Stephen Kyne is a Partner at Sterling Manor Financial, LLC in Saratoga Springs. Securities offered through Cadaret, Grant & Co., Inc. Member FINRA/SIPC. Advisory services offered through Sterling Manor Financial, LLC, or Cadaret Grant & Co., Inc., SEC registered investment advisors. Sterling Manor Financial and Cadaret Grant are separate entities

Is it possible to feel bad for someone who gets paid millions of dollars to play a game? If you read through the comment section of any article discussing Saquon Barkley’s contract situation, you will find many people sympathizing with him. On the surface, it seems ridiculous for people to have these types of feelings, but we are all human beings, and we feel a connection to another’s plight, regardless of status. I’m always looking for practical applications of things, so read on to see how we can learn from his circumstances.

For non-football fans, Saquon Barkley is a running back for the New York Giants. He was a highly sought-after prospect out of college and is currently up for a new contract. The Giants gave him the option to accept a guaranteed one-year $10 million contract or to negotiate a longer-term deal. The “problem” is two-fold. First, football is a violent sport, so one-year contracts are unappealing to superstars looking to lock in value due to the prevalence of injuries. Second, the running back position is relatively underpaid due to how teams perceive the importance of having a star occupying that roster slot. Barkley had the opportunity to sign longer-term deals, but he wanted to bet on himself, so he declined.

Humans tend to compare themselves to others. This is sometimes referred to as “keeping up with the Joneses.” In Barkley’s case, his teammate, quarterback Daniel Jones (wow, that last name fits perfectly with the message), just received a massive contract from the same organization looking to save costs on Barkley. I think he is realistic enough not to expect quarterback money, but envy has undoubtedly crept into his mind during this process. This is not unlike one of us being comfortable in our career yet coveting a neighbor’s car, house, or boat. All that should matter is where we are relative to our goals.

The free market determines the value of a product or service. Barkley appears to have grossly overestimated the amount of money that teams around the league are willing to pay running backs. I won’t go into the X’s and O’s of this, but other running back contracts should have provided a clue to him and his agents. We might think that our house should sell for a certain amount. Or that our company stock should increase in price based on favorable financial reports. In a world of supply and demand, it pays to listen to the market while making financial decisions. Don’t fight it.

Betting on yourself can be lucrative, but it also entails risk. We’ve seen athletes in similar situations parlay an expiring contract with a career year to ensure generational wealth for them and their families. The very nature of risk is that you are willing to accept unfavorable outcomes in anticipation of outsized returns. Betting on yourself is one of the surest ways to accelerate your career growth. But beware. Joining a start-up or accepting a lower-paying job in a company with greater advancement opportunities is not a slam dunk. Take calculated risks. 

I am part of the contingent that feels bad for Barkley. He has been an ideal teammate and face of the franchise. He puts his body on the line and has suffered injuries as a result. There is no opportunity for me to have his ear to impart wisdom, but that doesn’t prevent me from having similar conversations with clients. After all, we are all going through the same stuff.

David Rath, CMT, CFA, is the Chief Investment Officer at Continuum Wealth Advisors in Saratoga Springs. Continuum Wealth Advisors, LLC is a Registered Investment Advisor registered through the Securities and Exchange Commission.

For more information, visit contwealth.com.