Low-Cost Internet Eyewear Sales to the Rescue!

I have VSP (Vision Service Plan) at work and my eye doctor contacted me to remind me that it was time to get my eyes checked.

So I went in and it turns out my left eye has gotten a little weaker, and I am now in the range where I need bifocals (or a progressive multi-focal lens) So I sit down, pick a frame and the whole bill comes out to about $150. (including $25 co-pay for the exam, and $25 co-pay for the frames)

The next day (Friday) I get a call from a worker at the doctors office telling me that made a mistake with the date of my VSP coverage. It turns out I would not be covered for frames until January 2008, and that this would cost me another $150!

I really wasn't excited to spend that kind of money so I decided to cancel the glasses all together and wait until January.

But when I got home that night, I decided to go online and search out inexpensive eye-wear, and I found several sites that claimed to have some really great deals. They noted $9.00 and $8.95 glasses....so I took a closer look.

Well, I figured the prices were OK, and I would take a risk on the frame and lens quality. I would simply throw the glasses away if they were not that good. (besides, it is sort of exciting to take a risk...albeit a cheap, low cost no-brainer)

So I ordered a pair of single prescription $8.95 stainless steel frames, and a $51.95 set of fancier progressive len frames also in stainless.

What the heck....$65 for two pair of glasses. Less than half of what I had paid for the one on Thursday.

Back to long-term money thinking.....

I have started to come back around and think about the long term investment outlook a bit. I was talking to my financial advisor and he made a comment that perked my ears up.

He noted that the market was still going up. It initially perked my ears up because I had just decided to go from a 70%-30% equity to bond portfolio to a 50%-50% mix.

I perked up because I thought I was making a mistake, and I guess I looked worried to him because he instantly shot back and said "This is when I start to get worried about the market. When everyone in the world thinks it's hot is when I start to worry that it is at some sort of a top." (which made me feel better)

But let me not give you the wrong impression....I am not a market timer. At least not with the majority of our money. (I have a very small amount that I had initially had in Vonage stock that I have since moved into two Chinese telecom stocks....but even that money has been sitting there inactive.....and I have no idea how that is doing!)

I am certainly more of a buy-and-hold person. I think I made one rebalance in the portfolio in the past year....and I went from about 60%-40% up to the 70%-30% I mentioned above......and just a couple of weeks ago down.

I guess I have been a bit pessimistic for the past year, but the markets seem to continue to be fairly strong. (except the housing market that is)

So I'm starting to get re-energized about thinking long term again.

Here are a few online calculators to help you think about the long term affects of interest and money growth.

First, this one I find interesting because it lets me easily calculate what a million bucks in 1980 (when I graduated College and dreamed of such things) is today. (how much I need to have to have the buying power of a millinaire in 1980)

Then this Yahoo calculator lets me type in my current financial situation, play with projected interest and load rates, and calculate my worth in future years. (in net and constant value dollars) That is a lot of fun because it gets me charged about about saving and long term growth.

Of course, being the visual person that I am, I love to look at this online graphing program that lets me watch money growth of particular situations. You pick all ins and outs of your investment and expense money flow and it graphs the growth....albeit with a static year to year model. (such is life....no model is perfect)

So I guess I suggest that you start playing with these tools and put yourself in a mindset of Rip Van Winkle awakening from a nap in 10 or 20 years.....then put your investment on autopilot until then. (doing an analysis and perhaps rebalancing every 6 to 12 months)