Financial Focus

By Mark Miller

Tribune Media Services

 

 The debate over the future of Social Security will heat up this month when Washington policymakers convene for two major events focused on reducing the federal deficit. 

 

Deficit hawks will be peddling the argument that Social Security is careening toward insolvency, and that benefits should be cut because the government can’t afford its obligations to the program.

 

So, is Social Security headed for insolvency? And, is it causing our budget deficit?

Tribune Media Services

 

If you train for it, the jobs will come.

 

That’s the upshot of a new economic study that attempts to answer one of the toughest questions facing mid-life Americans: Will training for a new career pay off in a recession-wracked economy?

 

 

By Mark Miller

Tribune Media Services

 

Say hello to M and N, and goodbye to E, H, I and J.  The letters are part of the alphabet soup used to name Medigap insurance policies-an important tool for capping the out-of-pocket health care costs you can face in traditional Medicare.

I have a metal paperweight on my desk with the inscription, “What would you do if you could not fail?” It’s a nice ornament with a feel-good message, but it’s completely wrong and dangerous. Anybody can fail at anything. If you start a new venture without first thinking about and limiting risks, you can put your finances and, worse yet, your relationships in jeopardy. What starts as a way to build a dream life during the other eight hours, become your own boss or make a fortune can turn into a nightmare if you don’t limit your risk.

 

The economics editor for public radio’s “Marketplace Money,” Farrell thinks the recession is ushering in some very healthy changes in our consumer behavior and personal financial habits. The debt-and-consumption driven 1990s are giving way to a more sustainable lifestyle.