1995 850 Wagon Milky Substance on Dipstick

[jasew503]

So, went to check the oil this morning (for the first time since I bought it), and noticed water droplets all the way up the dipstick shaft, and a milky/mayo type substance on the end of the dipstick. I freaked a bit, opened the oil filler cap and noticed the oil in the cam areas is normal, dirty but normal and not milky. Same with Tranny Fluid.

Checked the coolant reservoir and the coolant appears to be a perfect 50/50 mix and is green, even though the container itself look kind of stained brown.

I have taken a few short trips, (less than a mile from cold start) but have been letting it warm up for about 3-5 minutes before driving. I notice a bit of steam comes out of the exhaust and until im actually driving more than 2 miles the temp gauge never goes more than 1/3rd of the way up, but when driving on the freeway it rises but never goes above the halfway mark, so its not overheating. The heater works fine too, gets nice and hot and hasnt seemed to be losing any coolant since I bought it. Ive probably put a max of about 70 miles on it in the last 1.5 weeks, and its been pretty cold here (40'F) and in Oregon we have a lot of moisture.

Is this cause for concern?

Pictures:

Dipstick:
http://imageshack.com/a/img812/1914/liaj.jpg

Coolant Tank:
http://imageshack.com/a/img35/3100/um55.jpg

Coolant (Soaked on a paper towl):
http://imageshack.com/a/img809/3880/kf9y.jpg

EDIT: Forgot to Mention its a Turbo with approx 170K Miles, recent water pump/timing belt change within the last 1K Miles.

[erikv11]

No cause for concern, that milky residue from condensation is totally normal for this time of year and the driving patterns you described.

[jasew503]

Perfect, thanks for the response! Kind of freaked me out a bit.

[erikv11]

Totally understand, it is unnerving if you are not used to seeing it. Thanks for the thorough, clear post.

That warmup in the driveway doesn't do much to help the problems from short trips, better to take the long way to work and get an extra 5 minutes of driving under load.