The lecture series the Life Enrichment director brings to our campus have been real gems---all on some aspect of history given by enthusiastic college professors. I wish they’d had guys like these back in my day. I suppose with teachers having to compete with the 21th century media they’ve had to step up their games. Either that, or I’ve matured enough to appreciate topics now that in my late teens were as boring as watching an ant drag a dead companion around which come to think about it isn't all that boring but for the sake the point I'm trying to make so let's pretend it is. I hate the word ‘mature’ by the way. A chart some where in my past called me a ‘mature woman’ and I pouted for a week.
The blood draw I’ll be getting is the third one in as many months and after that one is read I suspect the doctor will start treating me for the anemia the other two turned up. He’s ruled out all the blood cancers and proved I’m still alive. I’ve had my doubts about the latter some days when I’ve been as cold as a cadaver on ice. And since this post is heavy-handed with 'health crap’ already I’ll mention that last month I went through 45 minutes of lung function testing that proved two things. 1) I’m not good at following directions when someone says, “Hold your breath” and 2) I don’t have lung issues. I have asthma. Can I hear a “Hallelujah” for that diagnoses? I’m using an inhaler now and breathing feels good again. I used to have asthma attacks back when when I was exposed to a lot of secondhand smoke so I should have recognized the signs, but I didn’t and this past winter I thought face masks would kill me from a lack of oxygen when I wore one or Covid would kill me if I didn’t.
In addition to above, I’ve got three appointments lined up in the first part of June to see my brand-new, first ever financial advisor. I used my ‘significant brain power’ to pick him out aka I am using the same guy my niece uses and has known for years and who happens to be located within minutes of my new home. I hate investments and moving money around thus I haven’t done it since the last century. Money left over from life insurance and selling my house are sitting in savings accounts not keeping up with inflation. Then I have several other accounts where pension money and IRA money gets dumped. Have I mentioned how much I hate, HATE dealing with money? I’m so fearful of making mistakes that my inaction becomes the mistake I fear. But I’m not getting any younger and I need to get all my nest eggs lined up to make things easier for my nieces to deal with in case my mind goes kaput before my body.
Naïve me, I thought I’d be able to just job-assign the task off to My Finance Guy and he’d move stuff around and call me when he was done. But he has other ideas. He’s making a conservative 15 year investment plan, though I told him I’ll be lucky to make it to ten. He sent me home with a laundry list of papers and figures I need to bring back so he can a set up a monthly budget for me to follow. That will be handy because it will free me up to do things like update my wardrobe without guilt or worrying that I shouldn’t be spending anything above pocket change. He worn my brain out with our first hour appointment, but I felt good about the direction he’s sending me. Once we get things set up, I’ll be in his office to provide passwords and account numbers when needed and they’ll never get stored on his computer system. I’ll be watching his wall monitor as he does what he does with my assets. Each and every time. My husband didn’t trust financial advisors, he trusted collectibles but while my brain still works enough to look for red flags in people, I needed to trust someone because after this month I'm not willing to worry about money ever again. Been there, done that way too much.
I told My Guy that a few ladies here at the continuum care complex don’t care if they run out of money. They’ve booked cruises and spend a lot of time shopping because, they say, if they run out of money the CCC is contractually obligated to pick up the tab on our care. He says they’re not wrong but that he admires my mid-west mindset that I would rather break even at the end of my life, using my own money. For me it's a matter of the CCC being my plan B. Sure, they are contractually obligated to pick up our expenses if we run out of money---that's why we pay the big, non-refundable bucks going into places like this---but what if the sky should fall and their benevolent fund runs dry due to poor management or embezzlement before I kick the bucket? Better to have a Plan A that I have some control over. ©
Ask me if I was surprised to learn we have a CCC type residence in Bakersfield -- 40 miles west of us. Very, very nice place called Rosewood. I was tempted to contact them to ask what the costs were. But then reality set in and I passed. Good luck on your asthma treatment -- I have asthma AND COPD from repeated bronchial infections (allergic to tobacco smoke!) over the years. Do take care...
ReplyDeleteI never thought I could afford a CCC either but all I really did is swap out the assets of owning my house free and clear for a modest apartment here and what was left over from the sale of my house will go a long way towards keeping the monthly fees up. A pension pays for other costs and it helps that I have good health insurance. Keep you eyes open for public tours of Rosewood. It's a good way to get info without getting involved one-on-one with their marketing people.
DeleteI 've exposed to second hand smoke from birth to my 50s so I was worried about COPD or lung cancer and I completely overlooked the most obvious...the asthma that I had most of my adult life, until my husband quit smoking. I'm really happy with the diagnoses.
I hope you two click. I love, love, love my financial advisor. We just click. I've been using her (and Schwab) for the past ten years. She was a lower level worker bee at Schwab and that's where we first met her. She provides all the charts and numbers then explains them in my language. Of course it's been pretty smooth sailing investment wise and we are heading for some bigger bumps. She works for Evergreen Gavekal and their workers do all the research so I don't have to. So far, despite me using $$$ each year to support the five of us, my bottom remains steady. We talk or email quarterly and I am so happy with their choices. I like to have a chunk in cash ... just in care. GOOD LUCK!
ReplyDeleteSo far so good but it's still hard to fake an interest in something I really don't want to learn. But of course, I need to.
DeleteGood news about your tests. Thankfully all the scary stuff has been eliminated and anemia is easily treated. Also glad you only have asthma and that the inhaler works fine for you.
ReplyDeleteI think I got a headache reading this about finances. Makes me realize I should do better at planning. Good luck with your new guy and at least he came with references.
Me too on the tests. I'll probably be getting an infusion for the anemia and maybe see a nutritionist. And just knowing my lungs are not the problem makes me want to exercise more.
DeleteGod luck talking yourself into doing better planning on your finances. It took me years to work up to it with all kinds of excuses along the way.
You sure do have lots going on! Glad your doctor was able to treat your breathing issues. Gosh, being able to breathe freely means a lot! I often dread medical appointments, but a couple of weeks ago, I broke off a dental crown and the tooth beneath it, and I'm actually looking forward to going to my first appointment with the oral surgeon, later today. I'm supposed to be getting an implant, and they say it's a long process, so I want to get started asap.
ReplyDeleteI think you'll really feel good about working with a trusted financial advisor. The fact that your niece knows him means a lot. As my parents grew older, they relied heavily on their financial advisor, and he was an absolute gem both before and after they passed. Worth every penny! We have an accountant who has been a true asset to us through the years.
I hope all your medical tests turn out well for you, Jean!
I sure understand about looking forward to the dentist. I have my second appointment for a crown tomorrow and I can't wait as the temporary is not protecting the nerve from pain when I eat or drink cold stuff. There's always something isn't there.
DeleteThere's only one thing wrong with trusting collectibles as a nest egg. They require a market, and that's fading away pretty rapidly. There isn't an antique shop or consignment shop that wants even one thing to do with some of my valuable pieces, even though I'm ready to move some of them on. Of course online sales are a possiblity, as you proved. But I'm still too reluctant to get involved with the practical details of that sort of thing, like the shipping. And even there, shipping has increased so much that the one person I know who's still selling online says she's hearing more and more people unwilling to add the cost of shipping to the cost of the item.
ReplyDeleteI totally agree about the collectible market fading and I don't see that ever coming back. I'm just glad my husband didn't live long enough to see it and I sold his stuff just in time before the bottom fell out but it was hard work and not an easy way to get cash when needed like it used to be when we could just put a lot in a local auction and let it fly. I still have some antique jewelry that I had planned to sell online after I moved but I'm not even sure I want to do that anymore. We have become a society that doesn't connect with our ancestors or the past like we used to and decorators would rather sell you a reproduction rustic accent piece than an actually, one of a kind piece.
DeleteI really hate All Things Financial, and I also hate the Guilt that comes with letting my husband be the primary money person. I do try, but I just can't seem to grasp all the ins and outs of that arena. We have a terrific financial advisor, but it's not fair for Rick to be The One, solely, who manages everything with him.
ReplyDeleteI'm appalled at the cavalier attitude of some of the residents who are just being profligate with their money and expecting someone else to take care of them when it runs out. Wow. Talk about Entitlement. I guess they think the facility is Too Big To Fail.
A person either like financial dealings or they don't in my opinion. Neither one of us like it so we never did anything.
DeleteTrust me, I don't think most of the people here will run out of money. I am surrounded by PHDs and past business people. But there are two in particular who say they don't ever worry about how much they spend because the CCC will pick up if they run out. One lady has three cruises scheduled this year. The facility has been around for 100 years and is well funded but I can't imagine if you ran out of personal fund that your quality of life wouldn't change. If nothing else you'd become a poster 'child' for their benevolent fund drives.
Oh, I am not comfortable with those ladies’ financial planning. I would be like you and only use that as a Plan B. I have made a point of documenting how my investments are doing every Friday morning, for years now…on a spreadsheet. It has certainly lessened my fear as I see them going up and down on a cyclical basis. Now when they go down, I get on the phone to my Finance Guy and tell him to get me some deals as it’s Sale Time!
ReplyDeleteDeb
You are a hands-on kind of gal aren't you. We have one here too who checks the stock market every day with her morning coffee and isn't afraid to move things around. I admire that, but I could never learn enough to do it.
DeleteI don't like medical appointments. My condolences on you having many. I know from experience that Financial Advisors are as varied as shade of pink. Some are great, others less than great. All of them LOVE investment plans, on paper or a powerpoint presentation. Welcome to the world of graphs and pie charts and disclaimers ad nauseam.
ReplyDeleteI hate that kind of stuff but I will endure for the sake of myself and my nieces.
DeleteI love my financial planner and trust him to follow the markets--which he's an expert in and I'm not. (nor do I want to be--boring) Hope your appointments go well.
ReplyDeleteThe first one went well, but I was bore after the first half hour. LoL Next one is next week when he should have a plan and a budget to laid out for me.
DeleteYou have a full plate of "stuff" this week! Glad for you that your lung check was nothing awful and that your asthma can be handled with an inhaler. At least you have a haircut thrown in -- those are always fun. :-)
ReplyDeleteI'm the CFO at our house. Like some above, I'm checking the market daily. The one thing I've had to learn over the years is not to panic when the market goes up and down. It's fun to see it go up and not much fun to watch it come back down (like the last couple weeks). That said, I'm not big on moving money around a lot -- we mostly use index funds and some cash on hand. I have everything on Quicken software and have for years. DH has often said if I go first, he's doomed. LOL. He would figure it out if he had to, although I was also CFO of our business and did all the dealings with the accountant, the payroll company, etc. I think you either like it or you don't, as you said.
I, too, am a little horrified by the attitude of those two women and their spending. But I'm also not entertained by shopping anymore, and I can't imagine a place I'd less rather be than on a cruise right now. So there is that. :-)
I can't wait until my haircut. I look like a sheepdog right now.
DeleteYou are right, I think, that a person either likes working with finances or they don't. At least one of person in your marriage likes to do it, that's important.
That sounds good you found a financial advisor, I am reluctant to trust one. You sure have lots of appointments ahead, and you are getting good results on your health tests. My stepmom had a collection of Hummels which she thought was valuable, apparently they are not when I looked online for prices.
ReplyDeleteThe rule of thumb I've heard for decades is to never collect anything that is put out as a collectible and think you're going to make money from them. It doesn't work that way. A good collectible is whatever is iconic for certain eras. Pop culture stuff.
DeleteI don't think I would discuss finances here on the blog too much. I am always a bit paranoid that some crook is scanning the internet looking for people with money to scam.
ReplyDeleteGlad you have someone to help you and hope all of your appointments bring good news!
I hear you and I won't be sharing anything more detail about my finances than what I've already done. Personal budget? Maybe, Maybe not. That depends on whether or not it might help someone else and there are formulas involved.
DeleteYou make a good point about what if. I should have invested differently many moons ago. I figure I'm good for about eight years before I have to sell the house (or the cottage, but I'd love that to be the last to go). It seemed fine when I was terribly ill but now that I'm better (well, not this month, but hopefully that treatment has bought me some time) it makes one wonder!
ReplyDeleteI was surprised at how many others here have summer cottages. But then it's Michigan and once paid for summer cottages aren't that costly to maintain. So your hopes and dreams to keep the cottage are do-able. Fingers crossed.
DeleteYou're on Prolia, right? Any side effects? I have a bone density test tomorrow, the first in almost three years, and I'm afraid my doctor will nag even more for me to take Prolia or Reclast. I'm resisting. Has your bone density improved? How long have you been treating it? Fingers crossed for us both.
DeleteI've been on Reclast about five-six years and asked my doctor a few months ago if I shouldn't go off it now and he no, not for a couple of more years. The infusions always do show improvements in the center of the bones where some treatments only work for the outside of your bones. I've been on other things before Reclast that didn't do anything. I was told that all those medications are considered a success if you don't loss bone density while on them. I get tested every year because my bones are bad from a life time of taking synthroid that leaches your bones. I've broken too many bones not to get some kind of treatment.
DeleteHallelujah for any and all of the Good Health news... I'm conflicted about Financial Advisers since I don't Trust easily and if anyone is gonna screw up my Finances, I'd rather it be me than some random person I hired and paid to potentially screw up my Finances. But, that's just me. A lot of my long-term Retirement/Old Age Plans got completely cocked up when I inherited another Generation to Raise and both The Man and I were forced into early Retirement due to his Health Issues and then his Medical expenses went into the stratosphere. So, now I take it one day at a time since I'm guarded about Financial stuff naturally and have never been one to not manage money. I know so many people who have no budget, I don't know how they keep going when they don't even know where their money is going or have any financial stewardship in place for themselves. Interesting the obligation the CCC has if Residents run out of Money... I suppose the reckless ones count on that?
ReplyDeleteI always had more income coming in than I spent and kind of kept that 'budget' in my head but never needed to put it on paper. But now that I'm not earning anything and need to spend down what I've saved over the years I thought it was time.
DeleteYou've worked in banking and finance so I'm sure you're good at handling money.
Trust me the CCC check your finances, medical history, income and assets up one side and down the other before they let you buy into these kinds of places. I'm guessing they factor in the fact that some people are going to be reckless.
Having a good Financial Advisor has been gold in the bank for me, if reduction of my stress could be measured in dollars and cents.
ReplyDeleteI weigh in on the side of the ladies who view the CCC's contractual obligation as a get out of jail free card. I don't understand all the ins and outs but understand from this that the upfront payment is a lump sum long term care insurance payment with CCC housing. The CCC profits if the investor dies shortly after moving in. They get to resell their housing unit. They lose money on the long-term tenants, but short or long term, it would balance out on their spreadsheet as a net gain. I would take those cruises, for I never know when my time is up and I would trust their kindness and their contractual obligation. Now this is coming from a gal who is supplying her own long-term care out-of-pocket. But a CCC looks attractive when I tire of living in my own house. That better not be soon because I sank a ton of money renovating my house and I adore it.
You understand the CCCs perfectly. They are betting that we die before we use up our own money and the sooner we do that the quicker than can re-sell their units. They use all kinds of charts and software to feed in our health and assets to determine our life expectancy (which they aren't suppose to tell us but a newbie sales rep did for me). I really do believe CCCs are a great option for those of us without children to manage our affairs as we age.
DeleteGlad you are having fun redoing your house.
Totally agree
DeleteCount me as a person who gets peace of mind from having a financial plan and a budget. The budget gives me permission to spend money on things that I might otherwise think that I should do without. It's always nice to check my budget balance (I keep my budget in a spreadsheet) and see, oh yes, I can afford that.
ReplyDeleteI'm thinking it will work that way for me too..give me permission to spend money more than hold me back. I've always had a budget kind of in my head and I never used credit cards so I always knew what I had at any given time, with money getting taken out of our checks for saving before we got them.
DeleteI love the high rate of return. LOL. I had a Springer Spaniel who would wear your arms out playing fetch with a tennis ball. Good for you with the Financial Advisor. I do worry about people assisting with my money management, but I know you'll keep an eye on him.
ReplyDeleteI know if he screws up it will my niece he'll have to deal with as I would sic her on him. He's more than willing to have her sit in but I told him her life is too busy.
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