It seems that everywhere we look this week we’re hearing talk of the troubled American economy. From national morning talk shows to local morning coffee shops, everyone seems to be talking about how the U.S. economy is in a state of emergency and action needs to be taken quickly.

An underpinning of all these discussions is the talk that an advantaged few have been escaping economic ruin by way of “golden parachutes.” In other words, they have an “ace the in hole” financial plan or company compensation plan that means they are exempt from the poor decisions or risky behavior going on around them, potentially leaving others to suffer while they ride off into the sunset unharmed.

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If asked, “How much is a dollar worth?” there are probably a number of responses that immediately jump to mind. Perhaps some would go the mathematical route by saying, “four quarters,” “ten dimes,” “twenty nickels,” or “100 pennies.” Others may relate the value of a dollar to the price of things they buy frequently, responding, “about the price of a cup of coffee,” “a quarter of a gallon of gas,” or “about 6.8755 Chinese Yuan.”

Now think back a few years to what your answers would have been in 2004 or even 2000. With the Summer Olympic Games in Beijing upon us, let’s use the Olympics as a time marker. Clearly the first set of answers – “four quarters,” “ten dimes,” “twenty nickels,” or “100 pennies” – would remain the same. But what about the second, more qualitative set of answers?

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Summer is here (hooray!) and we can finally enjoy the warm weather, longer days and shorter work hours that accompany this time of year.

But while the snow has subsided to allow us a few months of much-needed sunshine, it’s important to consider the potential impact (for better or worse) this can have on your finances.

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