You’ve seen the photos, athletes, celebrities, maybe even your neighbor, sitting in a tub full of ice cubes, smiling (or grimacing) for the camera. Ice baths, once reserved for pro athletes are moving into the mainstream of non-athlete.  Sales are soaring, some stores can’t keep them in stock. Amazon sells inflatable and collapsable tubs for less than $60. What’s the deal? Ice baths are pretty much what it sounds like: you sit in a tub of chilly water (about 50–59 degrees) for a few minutes, usually after a workout for faster recovery. 

The idea is that an ice bath reduces inflammation, muscles recover faster and cuts down on soreness. Some people say it gives them a mental boost, like hitting a reset button for the brain. There’s some science behind it. Think about it, hurt yourself, where’s the bag of ice (or peas). A few studies even suggest cold immersion can improve mood. Ice does in fact, reduce inflammation. Beyond the improved physical impact, many enthusiasts say ice baths give them an energy boost, mental clarity, and even help with stress management. The sudden chill also challenges the nervous system, which may explain why some people feel more resilient and alert afterward but are they actually good for you, or just really, really cold?

As ‘cool’ as it seems to sit in a tub of ice water, there are cons; the initial shock of an ice bath can take your breath away. A major concern is the shock to your system, especially for people with a heart condition. Cold exposure causes blood vessels to constrict, which can reduce circulation and temporarily increase blood pressure. Some studies suggest they may limit strength and hypertrophy gains if used right after resistance training. 

So, the Bottom Line, ice baths can be a fun and invigorating tool. If you’re curious and healthy enough to try them, just keep it short (five to ten minutes is plenty). Ease in slowly, and don’t expect them to magically solve all your aches and pains. At the end of the day, recovery doesn’t have to be extreme. Sometimes the best medicine is as simple as a good night’s sleep, healthy food, hydration usually do the trick or simply, a cozy bath with candles and bubbles.

As Wall Street turns the calendar to the final quarter of 2025, investors find themselves navigating a complex and often contradictory landscape. The year has been a testament to market resilience, yet the echoes of earlier volatility, coupled with persistent geopolitical and economic questions, have left many feeling uncertain. While the specter of ongoing trade tensions and shifting monetary policy rightfully commands attention, a deeper analysis of underlying economic fundamentals and market dynamics suggests that a strategy of cautious optimism may be the most prudent course for the remainder of the year.

The primary pillar supporting a positive outlook is the surprising durability of the U.S. economy. Despite forecasts of a more significant slowdown, economic activity has proven remarkably stubborn, made possible, in part, by the fractured implementation of tariff threats, and a slower than anticipated deportation rate.

Projections for the fourth quarter indicate a stabilization of GDP growth, underpinned by a labor market that, though softening, remains relatively strong. Continued strength in employment will be vital in providing a critical foundation for household financial stability, directly fueling the consumer spending that constitutes the largest portion of the American economy.

Inflationary pressures, the dominant economic narrative of the last two years, have shown definitive signs of slowing. Key metrics, such as the Consumer Price Index (CPI), have trended downward, with notable cooling in previously volatile categories like energy and used vehicles. This disinflationary trend has granted the Federal Reserve a crucial degree of flexibility. The Producer Price Index (PPI) has shown a recent increase, however, which may be indicative of tariff charges not yet being passed on to consumers. 

After a historically aggressive and successful campaign of monetary tightening, the central bank has adopted a “wait-and-see” approach, pausing its interest rate hikes. This pause has been a significant tailwind for equities, stabilizing the cost of capital for businesses and lowering the discount rate used to value future earnings. While we don’t expect a significant reduction in interest rates in the near-term, we do expect the Fed to begin cautiously lowering rates as long as inflation and the labor markets remain in-check.

This optimism, however, must be firmly anchored in reality. Prudence is essential, as significant risks still remain. 

The most prominent headwind remains the unresolved nature of international trade policies. The potential for new tariffs or the escalation of existing disputes casts a shadow of uncertainty over global supply chains and corporate profitability. Industries with significant international exposure, such as manufacturing and technology, remain particularly vulnerable. Investors must diligently monitor geopolitical developments, as a sudden negative turn could quickly sour market sentiment.

Domestically, the health of the American consumer, while currently robust, warrants close observation. There are signs of stress appearing at the margins. Rising credit card delinquency rates and a dwindling personal savings rate suggest that some households are stretching their finances thin. A more pronounced pullback in consumer spending, should it materialize, would act as a direct and powerful brake on economic growth.

We view the remainder of 2025 through the same lens as we did the first two thirds; one of cautious optimism. The constructive backdrop of a resilient economy, moderating inflation, and a broadening market rally provides a solid foundation for positive returns. However, the ever-present risks of trade policy, foreign policy, and a potential consumer slowdown cannot be dismissed. By working closely with their Certified Financial Planner® professional, and embracing a posture of cautious optimism, investors can work to strategically position themselves to capitalize on the opportunities ahead while remaining vigilant against the uncertainties that will inevitably arise.

Stephen Kyne, CFP® is a Partner at Sterling Manor Financial, LLC in Saratoga Springs.

Sterling Manor Financial, LLC is an SEC Registered Investment Advisor and does not provide tax or legal advice, nor is it a third-party administrator. Consult your attorney or accountant prior to implementing any tax or legal strategies

A Potential Significant Change in New York Law

For the first time, New York’s Medical Aid in Dying Act (“MAID Act”) has passed both the Assembly and Senate and is awaiting the Governor’s signature.  While previous versions of the MAID Act have been introduced and passed by the Assembly, they never passed the Senate. It is unclear at this time whether the Governor will sign the bill into law.  

If signed into law, the MAID Act will allow mentally competent, terminally ill adults with a prognosis of six months or less to live to request medication from their treating physician that the patient can choose to self-administer to bring about their death.  

How would the MAID Act change New York Law? 

Currently, individuals have the right to refuse life-sustaining treatment that only prolongs the dying process. This includes refusing artificial respiration, hydration, and nutrition. If you have a health care proxy agent, they may refuse such treatments on your behalf.

However, under current law, individuals cannot request or direct their health care providers to help them end their life. The MAID Act would change this by allowing certain qualified individuals to request prescribed medication to end their life.

Who qualifies under the MAID Act? 

A qualifying individual is a mentally competent person over the age of 18, who in the judgment of two physicians has a condition or illness that will reasonably result in their death within six months.  

The qualifying individual must request verbally and in writing for their treating physician to prescribe medication that will cause their death.  The qualifying individual must administer the medication themself without assistance.  

Can a health care proxy agent make the request?

No. A health care proxy agent cannot make this request on behalf of another person. The request must come directly from the qualified individual.

Can the medication be taken at home? 

Yes, a qualifying individual may take the medication at home. Any unused medication must be disposed of according to medical advice and in line with the MAID Act’s guidelines.

Can the individual change their mind? 

Yes, the individual can change their mind at any time. Before prescribing the medication, the physician must offer the patient the opportunity to rescind their request.

Can a health care provider refuse to prescribe such medication?

Yes, generally, a physician or health care facility may choose not to prescribe or dispense the medication.  However, they are required to transfer the patient to a physician or facility willing to prescribe and dispense the medication.

How would the MAID Act affect health insurance? 

The MAID Act prevents health insurance companies from denying coverage for any service or item that would otherwise be covered, just because the patient has or has not chosen to request medication under the MAID Act.

Will the MAID Act affect life insurance? 

No. Life insurance companies cannot deny benefits to beneficiaries based on whether the insured person has requested or used medication under the MAID Act.

What if a terminally ill person does not qualify?

If someone is terminally ill but does not meet the requirements of the MAID Act, they still have other options, such as refusing life-sustaining treatment. If the individual lacks decision-making capacity, their health care agent may refuse treatment on their behalf, acting in the individual’s best interest and in accordance with their wishes.

How can you prepare for end-of-life care?

To best prepare for end-of-life care, you should make sure you have a Health Care Proxy in place. This document appoints someone you trust to follow your wishes and act in your best interest in the event you cannot. 

End-of-life decision making can involve deeply personal considerations including one’s religious faith, quality of life, and the wellbeing of loved ones.  Legal assistance can prove valuable to successfully navigate those decisions for yourself and those closest to you.  If you have questions about your options or how to communicate your end-of-life wishes, it is a good idea to consult with an estate planning attorney.

Anna R. Myers Norton is an associate attorney with O’Connell and Aronowitz, 1 Court Street, Saratoga Springs, New York.  Anna’s practice is focused in the areas of trust and estate law, including estate planning and estate administration. 

“Mothering Boys”

My mother’s heart has been pulled hither and yon this past school year, between my biggest boy, who spent a semester in D.C. and a summer on Long island, and my other big boys, who are in varying stages of figuring things out with college and jobs, and my little boys, who want very much to be big boys and don’t realize the gift they have of still being kids. Sometimes I look at all my boys in wonderment: these are fantastic young men! Sometimes I look at all my boys with what feels like crippling sadness: where are my babies?!

It’s not always complicated like that, though. One of my favorite things this summer, which has been a balm to my tender heart, is watching my youngest squeeze every bit out of this summertime life. He is a boy with big emotions, and one of the big emotions he’s been showing a lot is JOY. I am sometimes moved to tears to watch him living life right now: there is clearly nothing better in the entire world than being a six-year-old boy in the summertime with six older brothers and lots of cousins and water to swim in and grass to run in and scooters to ride and forts to build and ice cream to eat. He’s able to stay up later, sleep in longer, play more video games, take more trips than he’s ever been able to in his life. I regularly hear big belly laughs coming out of him when he’s playing with (or bothering!) his brothers. His blond hair has gotten blonder, his freckles have multiplied, he has tan lines and bug bite scabs and has lost two teeth. If you were going to make an ad for “little boys,” he would be the perfect model.

While watching him in general is one of my favorite things, one of my specifically favorite things to watch is him swimming. I have absolutely loved watching him swim this summer. After a short freak-out at the beginning of the summer when we realized his swimmies didn’t fit anymore and he was sure he had completely forgotten how to swim and would never be able to enjoy the water (he’s a little dramatic), he was able to quickly regain his skills with the help of his dad and a half hour lesson in the lake, and then he turned into a fish. An actual fish! He swims and swims and swims, underwater and on top, and has mastered every fun thing about swimming, including — as he proudly tells everyone — “diving for a ring at 7 feet deep!” He recently completed the two weeks of swimming lessons we have the little boys do at Skidmore each summer and his instructor wrote on his evaluation form that he is “a beast” in the water and that his comfort level in the water “is a beautiful thing.” It really is! When he jumps into the water from the side of the pool or the dock at the lake, it’s more of a no-holds-barred *launch* — he throws himself into the water with abandon! He does belly flops and cannonballs and pencil dives and scrambles out of the water to do them again and again and again.  

Maybe I’ve been so struck by my littlest guy’s uninhibited joy because I’m seeing my older boys starting to realize that adulthood isn’t what we all think it will be when we’re young. I’m so pleased and proud of all that they’re doing and how they’re stepping up and being responsible, but what a bummer to find out that once you start earning money, then you have bills to pay! Once you’re allowed to stay up as late as you want, you can’t because you have to work the next day! Even my middle schoolers are past the “free summer” stage and are grumbling through their summer reading and math review. I think we’re all a little envious of my youngest boy and his zero-responsibility, uninhibitedly joyful summer.

Of course, time keeps marching on. Since it’s August, I’m focusing on buying school supplies and new school shoes, and readying school clothes, backpacks, and lunchboxes. I’m already looking ahead to this time next year when we’ll have a college graduation, a high school graduation, and a middle school graduation, as well as our last First Communion (traditionally done in second grade for Catholic kids). My mind is constantly on the next thing, trying to plan and prepare (and brace myself). 

But first—there’s still more summer! I’m planning on as many more days at the water as we can manage, watching my littlest guy and his big brothers and remembering how much I loved these days when I was their ages. I hope the rest of your August goes as swimmingly as I hope ours does!

Kate and her husband have seven sons ages 20, 18, 17, 15, 13, 11, and 6. She can be reached at kmtowne23@gmail.com.

How the Act will Affect you and your family

The One Big Beautiful Bill Act was signed into law on July 4th by President Trump.  As the bill worked its way through Congress, there were a number of compromises and changes that occurred before it passed both the House and the Senate and made it to the President’s desk.

Below is a set of questions and answers that are meant to cover some of the basics of the Act, and how they may affect you and your family.

How did the Act change tax rates?

The tax rate cuts put in place as part of the 2017 Tax Cuts and Jobs Act (TCJA) were set to expire at the end of this year.  Those rates have now been made permanent and will not increase at the end of 2025.

How did the Act affect the standard deduction?

In 2017, the TCJA nearly doubled the standard deduction, which resulted in a significant decrease in the number of filers who itemized deductions.  The Act has now made the increased standard deduction permanent.  In 2025, the standard deduction increases to $15,750 for single filers, $23,625 for heads of household, and $31,500 for married individuals filing jointly.  The standard deduction will be adjusted for inflation after 2025.

How about the SALT deduction?

The State and Local Taxes (SALT) deduction is a deduction available for those who itemize deductions (meaning those who do not use the standard deduction), and it was capped by the TCJA at $10,000.  This was disadvantageous to residents of states like New York which have higher state and local taxes, as compared to other states.  The Act increases the SALT cap deduction to $40,000, which will be beneficial to New York taxpayers who itemize their deductions.  

Is there no tax on tips?

The Act provides for a temporary deduction of up to $25,000 for qualified tips received by an employee in a business where tips are customarily part of their income, i.e. servers in restaurants.  The deduction is phased out for single filers with income over $150,000 and joint filers with income over $300,000.  This deduction is set to expire after 2028.

What about taxes on overtime?

The Act provides for a temporary deduction of up to $12,500 for qualifying overtime compensation (up to $25,000 for joint filers).  As with the no tax on tips deduction, it is phased out for single filers with income over $150,000 and joint filers with income over $300,000.  This deduction is also set to expire after 2028.

Any changes for seniors?

Taxpayers 65 and older are eligible for a temporary deduction of $6,000, which phases out for individuals with income of over $75,000 and joint filers with income over $150,000.  As with the tax on tips and overtime deductions, this deduction is set to expire after 2028.

Is there a deduction for car loan interest?

Interest paid on car loans, for cars which have their final assembly in the United States, will be deductible up to a limit of $10,000/year.  This is a temporary deduction, that will be phased out for individual filers with income over $100,000 and joint filers with income over $200,000.  These deductions (no tax on tips, overtime, senior, and car loan deductions) are all “above the line” deductions, which means they are available whether you itemize deductions or use the standard deduction.

Is there a change to estate tax limits?

The current federal estate tax exemption amount of $13,990,000, which was set to expire at the end of 2025, has been increased to $15,000,000 as of January 1, 2026.  After 2026, the exemption amount will increase annually with inflation.

What is the status of the EV credit?

The electric vehicle (EV) credit of $7,500 for new vehicles and $4,000 for used vehicles will end September 30, 2025.  Those interested in taking advantage of that credit should plan to take delivery of their electric vehicle by that time.

Are there changes to 529 accounts?

529 accounts are savings accounts, which allow taxpayers to save money with tax free growth and tax-free distributions for qualifying educational expenses.  These accounts have been a valuable planning tool to assist with educational costs.  The Act expanded their use, including increasing the annual amount that can be used for K-12 expenses from $10,000/year to $20,000/year.  It also increased allowable withdrawals in general, including allowing withdrawals to pay for programs that prepare students for industry-recognized licensing exams.

The Act is a very significant piece of legislation that has many important impacts on the lives of Americans.  The items discussed above give you a sample of the more important impacts.  If you have questions about how the Act specifically affects you and your family, it would be wise to contact an accountant or attorney experienced in tax matters.

Matthew J. Dorsey, Esq. is a Shareholder with O’Connell and Aronowitz, 1 Court Street, Saratoga Springs, NY. Over his twenty-eight 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.

Market volatility, geopolitical tensions, and economic ambiguity can make investing feel like navigating a dense fog. The temptation to either hit the brakes and flee to cash or make impulsive decisions based on headlines can be overwhelming. However, periods of uncertainty are not a signal to abandon your financial goals, but rather a call to reinforce a disciplined and strategic approach to investing.

The cornerstone of a resilient investment portfolio, especially in turbulent times, is a clearly defined long-term plan. Your financial objectives, whether for retirement, education, or wealth growth, should be your guiding star. Market downturns are a normal part of the economic cycle, and a long-term perspective helps to view these periods not as crises, but as temporary fluctuations.  History has consistently shown that markets recover and trend upwards over time; staying invested is often the most prudent course of action.

Diversification remains the most effective tool for managing risk. Spreading your investments across a variety of asset classes—such as stocks, bonds, and real estate—can cushion your portfolio against a significant downturn in any single asset class. Within your stock allocation, further diversification across different sectors and geographic regions is crucial. During uncertain periods, consider tilting your portfolio towards “defensive” sectors like healthcare, consumer staples, and utilities, as these industries provide goods and services that people need regardless of the economic climate.

Investing in high-quality companies becomes paramount when the market is shaky. Businesses with strong balance sheets, consistent cash flow, and low debt are better equipped to weather economic storms. These holdings may not offer the meteoric growth of more speculative ventures, but their relative stability and potential for paying reliable dividends can provide a welcome anchor in a volatile market.

One of the most powerful strategies for investing in a fluctuating market is dollar-cost averaging. This involves investing a fixed amount of money at regular intervals, regardless of market highs or lows. When prices are low, your fixed investment buys more shares, and when prices are high, it buys fewer. This approach smooths out your average purchase price over time and removes the impossible task of trying to “time the market.”

Finally, mastering your own emotional response is perhaps the most critical challenge. The 24-hour news cycle can create a sense of panic, leading to rash decisions like selling at a market bottom. It is essential to tune out the noise, stick to your plan, and avoid checking your portfolio obsessively.

Investing during uncertain times doesn’t require a crystal ball. By focusing on a long-term horizon, maintaining a diversified portfolio of quality assets, continuing to invest systematically, and keeping emotions in check, you can more confidently navigate the fog and stay on course toward achieving your financial objectives.

Stephen Kyne, CFP® is a Partner at Sterling Manor Financial, LLC in Saratoga Springs.

Sterling Manor Financial, LLC is an SEC Registered Investment Advisor and does not provide tax or legal advice, nor is it a third-party administrator. Consult your attorney or accountant prior to implementing any tax or legal strategies.