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I Had to Sell the Family Jewels to pay for her Long Term Care

My wife and I had both worked really hard to raise our two kids and at the same time live a comfortable life.  We did some investing in stocks and real-estate but my wife always had an affinity to jewelry, especially diamonds.  We both retired in our early 60’s and planned of traveling and enjoying retirement.  That’s when it all changed one day when my wife went to her doctor after complaining of some mild forgetfulness.

We thought it was nothing other than old age but her doctor told us that she had the early stages of Alzheimer’s and it was rapidly progressing.  They said with medications she may have 10-15 good years left.  Our mind jumped to how to pay for her long term care in a nursing home if it ever came to that.  Like I said, we had some assets in stocks and savings but most was tied up in jewelry.  This happened in 2008 near the market low and we had to sell about $200,000 dollars of diamonds for about $70,000 once the medical bills started to pile up.  Long Term Care Insurance was something that our financial advisor told us about five years before but we never acted.

We naturally called the first long term care insurance company we could find after we got the diagnosis but they told us it was too late for her but I could still get it.  The guy we spoke with was from South Carolina about 10 miles from where I grew up and he worked for a company that sold a bunch of different companies.  He got me a long term care insurance plan but could not find anything for my wife. They were great and if you ever need long term care insurance info call them, their site is here.

My wife on the other hand was going to fund her care by selling all her jewelry which included seventeen high-end diamonds.  Some of her jewelry had been in her family for years and it was tough to let it go… but we had to do it.

My Love Affair with Pink Diamonds.
My Love Affair with Pink Diamonds.

Pink diamonds are so pretty!

Whoever said a thing of beauty is a joy forever must have been thinking of rare pink diamonds. Pink diamonds evoke passion, fine taste and style. Whether they’re embedded in an engagement ring or pendant necklace along with other gems, or placed in a brooch, tiara or crown, or set in white gold or rose gold as earrings, pink diamonds mesmerize.

Only a small number of pink diamonds are mined annually. Pink diamonds are extracted from the Argyle Mine located in Western Australia. It has been estimated that in five years’ time, pink diamond supply would have dwindled further, making the jewels even rarer and more expensive.

Authentic pink diamonds emanating from the Australian mine come in varying shades of pink – some come in brownish hue, others in champagne, and some are purplish. The more intense the pink shade of the diamond, the greater the value. The value of natural pink diamonds surpasses white diamonds.

One of the biggest vivid pink diamond that had its unveiling in Monaco is the Steinmetz Pink. The flawless 59.6 carat diamond was discovered in Southern Africa. Another famous diamond with a light pink color is the Darya-I-Nur, which occupies a prominent place amidst the Iranian Crown Jewels. Among the royal owners of the Darya-I-Nur was India’s first Mogul emperor. Shown at London’s Crystal Palace Exhibition sometime in 1851, the priceless diamond has been preserved in the treasure vaults of the Central Bank of Iran.

In the contemporary era, luxury jewelers to the stars, like Harry Winston, Chopard, Jacob & Co., fashion pink diamonds into jawdroppingly stunning pieces worth flaunting. Some luxury jewelers have created extraordinary rings set with white diamonds along with pink diamonds, mounted in platinum 18K rose gold for its discriminating clientele. Others convert heirloom pieces into splendid works of art.

Among the privileged few who have been gifted with rare pink diamonds are royalty like Queen Elizabeth II and Hollywood actresses like Jennifer Lopez, Jennifer Garner, and Victoria Beckham. Singer Mariah Carey received a pink diamond engagement ring from Nick Canon. It was studded with numerous intense pink diamonds and two half-moon diamonds on each side, reportedly amounting to over two million dollars.

The exquisite pink diamond wedding gift that Queen Elizabeth II received from Canadian geologist John Williamson back in 1947 was a stunning rock that has been made into a brooch pin with alpine rose design. Cartier designed it, surrounding the pink diamond centerpiece with colorless diamond petals.

Given its immense value and symbolic meaning, a pink diamond ring is truly a gem like no other. The beauty of a pink diamond can be quite inspiring. Getting such a gift speaks volumes about just how special the recipient is. It is an object of desire that can reflect sentiments like love, appreciation, and exaltation.

Can you envision yourself donning a pair of awesome pink & white diamond earrings or necklace, perfectly coordinated with a beautiful gown or cocktail dress and designer heels? Indeed, beautiful drop earrings, necklaces, or rings with pink diamonds are so pretty! In a few cases, pink diamonds also reflect a nation’s rich & colorful history.