What Will Seniors Do?

William and Jane Sibbitt won't be traveling this year to visit their grandchildren in Vermont or his brother in California. They're shopping for golf shirts at garage sales, they're not eating out as much, they're doing less recreational shopping in Terre Haute, and they've even cut back on charitable giving.

"We're not going to the doctor every whipstitch," Jane said. William doesn't believe it does any good anyway, if he's just got the flu.

Guy and Joanne Intravaia, on the other hand, have booked a Caribbean cruise with Young at Heart Travel.

"The stock market has gone down another 200 points," said Guy Intravaia, who lives in Lake Placid. "I saw it on the news this morning. So, we're gonna spend it before they take it."

True. The Dow Jones Industrial Average started Tuesday at 8,202, tanked after the Treasury Department rolled out a tensely awaited Wall Street and bank rescue plan, and finished at 7,888.

Just Do It

Ken Dahl is 82. His wife, Joan, is 76. They canceled travel plans to Italy after doctors advised Ken of a medical problem. On Wednesday, they were at the Senior Expo in Lakeshore Mall, visiting with Gwen Young, and picking up a travel brochure. They've been to Italy twice before, but they want to see Pompeii.

"This is our heart's desire," said Joan. "We don't know how much longer we'll be able to do this."

He's still driving a 10-year-old car, said Ken, who confided he met Joan when she was 14, then waited for her to turn 18 before he married her. They're spending their retirement money carefully.

More so these days. Most employees have a 401(k) plan or an IRA, but they still depend on their paychecks for day-to-day expenses. Seniors who were living off the interest from their portfolios are now digging into the principal.

As Merrill Lynch, Chase, Lehman Brothers and WaMu crashed last fall, the value of the Dahls' portfolio swooned 40 to 50 percent, Joan disclosed.

It's the same for the Sibbitts, who have been wintering in mobile homes north of Lake Placid since 2003. They got out of stocks, Jane disclosed, and converted to ultra-safe but low-interest CDs.

They know the stock market will eventually return to 12,000 or 14,000. But, Jane said, "We don't have time for it to come back."

Back in Greencastle, Jane issued Indiana driver's licenses, William was a financial analyst for IBM when he retired the first time. Then he supervised road maintenance for the state transportation department. Done with cleaning snow from the highways, he retired again in 2003.

What will they do if the economy gets worse? They've contemplated going back to work. At their age, though ...

"I see how many elderly people are working in the stores," Jane reflected. "Some of them just want something to do. But I think the rest of them are going back to work because they have to."

What would William do in his next career? He couldn't get his old jobs back, he admits.

"I'd probably be a greeter at Wal-Mart," he laughed.

They came back to Highlands County this year, Jane said. "We were going to lose it, so we decided to spend it on what we want to do."

"Just go on and do what you want to do," William interjected.

But what if the economy gets worse? Will the Sibbetts return to Highlands County next winter?

No, they decided. They'll stay in Indiana.