Frances Ellen Speaks!

Archive for February, 2008

I saw three classic cars this past week! And they weren’t sitting on display at a car exhibition. They were actually on the road with someone behind the wheel driving them. The sight of each one made my heart sing.

The first one I saw was unmistakable, a Chevy BelAir.

It wasn’t black, though. It was the more familiar turquoise and white. Talk about moving back in time.

Do you remember when one of the most exciting events of the year was when the new cars were introduced? The unveiling of each new model was treated as a high point in the automotive year, and rightly so. The cars didn’t look like large boxes back then. Their bodies were sleek, daring; each one different from the others.

The second car I spotted last week was being parked by a gentleman in a black beret. I’m pretty sure that one was a ’59 Chrysler. I could be off by a year or two. It looked like this one.

If you’re now thinking there is no way I saw a Pink ’57 Ford Thunderbird; I confess, you’re correct. I just couldn’t bear to leave it out of the line-up. Is that the most beautiful machine you’ve ever laid eyes on? Too bad we’ll never see a vehicle like it in a showroom ever again. But, take a minute to think back to the days when seeing one on the road was a superb, delicious moment.

The car I did see was pretty good, though. I think it might have been a ’58 or ’59 Dodge Coronet. Classic! Drink it in.

That was the title of a recent article in Charles Schwab’s investment magazine, which the company sends out to its investors. They could’ve changed the age to 62 or 65. The answer would be the same, but it took them more than 200 words to say medical insurance costs are outrageously high even if you’re old enough to be covered by Medicare.

And the article also noted that although older workers had retirement portfolios that ballooned in the 1990s, those portfolios burst when techology stocks took a downward dive. Therefore, some American who had taken an early retirment had to return to work.

There was no mention of the fact that even with the new drug plans, retirees still can’t afford to buy all the drugs they need.

And think about this–many senior citizens didn’t save a dime while they were younger. So, the answer to the question, why are they still working? They have to!

Fortunately, I’m one of the people who at least took a stab at saving, mainly because I’m a realist and always have been. I never expected to be able to exist on Social Security alone. I knew, there was no way I could live on less than $300 a week. That’s actually what my Social Security check will look like when I reach age 66. The scary thing is, even after saving what little I could over the years, while raising a family, I’m still not going to be comfortable in my old age.

Another little ditty that Schwab printed in that issue was a list of quotes. One of them quoted Warren Buffett. “Someone’s sitting in the shade today because someone planted a tree a long time ago.” Looks and sounds good on paper, doesn’t it? But remember that bursting bubble Schwab wrote about? I’m living through this one, and I lived through a horrendous one years ago that wiped away almost half of the money I had managed to save. All of that money was in mutual funds, because I knew zilch about the stock market.

I still don’t know much about the market, but after that horror, I learned to diversify. I, at least, learned that much!

If you visit the folks at this site  who also read the Schwab article, their suggestion is try Fixed Annuities, Bank CDs, and U.S. Government Savings Bond. They make a case for keeping your money safe from loss.

That “risk-free” sounds pretty good, but there’s a trade off. The gains are small, and fees for variable annuities are pretty steep. And once you’re in a mutual fund, what do you do, bow out and take a huge hit?

Here’s something else that I found quite amusing.

When and if you actually do retire,

…just resist the urge to treat the contents of your accounts like mad money.

What?! There are people who actually have mad money? Not in my circle of friends.

That same amusing article goes on to say,

And forget about that cushy 15% income tax rate most retirees are eligible for, warns Schatsky. As soon as you have more than $63,700 in retirement income, the tax rate skyrockets to 25%.

Well, at least, here I get a break. I won’t have to worry about my tax rate skyrocketing. As a single, working woman, I have never earned that much money annually in my entire life while I was still working.

Now that I’m sitting here analyzing the question of retirement further, I’d venture to say that in another five years Schwab can print the exact same article; just title it, Why More Americans Are Working Past Age 75.

These pictures were taken near the coast of Canada’s Hudson Bay. A polar bear sees sled dogs.

Is this incredible, or what?!

The Polar Bear returned every night that week to play with the dogs… Nature can be a beautiful thing.

Can you believe there is such a thing as Arthritis of the Eye? Well, there is and I’ve got it.

The eye’s version of arthritis is call Uveitis. Some doctors believe it follows an infection of some type, but if you suffer from arthritis, it almost certainly is related. And it’s hard to diagnose. This is the fourth time I’ve experienced an outbreak, but it wasn’t until the third episode that it was finally diagnosed.

…This can be confounding to the patient and the doctor when the infection has long passed at the time of presentation with arthritis or eye inflammation…

Surprisingly, it even has political overtones–who would’ve thought!

Reactive arthritis has, in the past, been referred to as Reiter syndrome (a term that has lost favor because of Dr. Hans Reiter’s dubious past, one of enthusiastically embracing Nazi politics and medical abominations).

Be that as it may, I’ve got it and my symptoms are: painful eye (only one eye at a time, not both), profuse watering of the eye and, consequently, blurry vision, and a painful reaction to bright light/sunlight. The treatment prescribed for me is Prednisolone Eyedrops.

Prednisolone is a steroid, therefore, the treatment is controversial. But leaving it unchecked is a lot more dangerous according to the Mayo Clinic.

Complications

Left untreated, uveitis can cause the following complications:

• Abnormally high pressure inside the eye (glaucoma)
• Damage to the optic nerve
• Clouding of the lens (cataract) or cornea
• Scar tissue inside the eye
• Retinal problems, such as fluid within the retina or retinal detachment
• Vision loss

This is where my post ends. Evidently, looking at a computer monitor only increases the blur.