"A Millon Dollar Illusion"

The Sunday 6/9 NYTimes section has an article that could make anyone in the so-called upper middle class, and whatever is middle class these days lose sleep.   For sure, in the 1960's  some "Millionare" television program engrained in our minds the idea of one  mllion dollars as rich.   It is not when you are actually in your 60's.  It's nothing to sneeze at but it is not rich.

We are fine I hope, but have some amount of worry about the money that we have saved for our children and their understanding of it.  It's a work in progress.  I think that the younger one will no longer take part of her saved money and buy a Lamborgini.  Those doors going up are so cool, and in Italy some years ago she decided that it was the car.  I would want one too.  The older one really understands savings, but is only now beginning to learn about investing.

For us, we are more careful than we once were, and we were never frivolous unless one could question our vacations and quality of cars.  Now we are almost frugal as we hear ideas floated about "one-time" percentage taxes on total assets plus means-testing Medicare and Social Security, assumed guarantees in any financial plan.  Despite the positive intentions of Obamacare, it will absolutely drive up costs for the upper middle class.

The future is unpredictable.  If only there were a strong moderate, fiscally conservative, socially open minded party to debate the Democrats, but we are stuck with the Republican Party of 2013, which in no way resemble the Republican Party of 50 years ago.