The Propeller - Propelling you into the new week! Tips, Newsbites, and Wisdom covering Life, Technology, Entrepreneurship, Finance, and the Internet

The Propeller – A $17,000 Tax Free Girst For you – 9/10/2023

/ The Propeller / By
Quitting is NOT a Sign of Weakness

When do you give up and when do you fight for it?

The 3 situations when quitting is the smart move:

1) When you’re chasing sunk costs.
Time, money, and energy invested are gone forever.  Pursuing it further won’t bring it back. Be honest and objective with the current reality.

2) When it goes against your core values.
If your thoughts and actions are against what you stand for, it’s time to quit.  Staying in a situation that compromises your integrity will only lead to regrets.

3) When the opportunity cost is too high.
Before committing to something, make a list of other things you could be doing with your time and choose the one with the highest potential return.  Staying in something with a low return on investment will hinder your growth.

Quitting is not a sign of weakness. It’s a sign of strength when you know what you want and what you stand for.

Tech: Learn to effectively use AI by learning Prompt Engineering

My initial encounter with ChatGPT left me impressed, yet little did I know the profound impact it would have on my daily work. It wasn’t until I delved into the realm of Prompt Engineering techniques that I truly honed my ability to interact effectively with AI.  A Priompt is the instruction set that you provide the AI engine to complete a task for you.

Today, I find myself significantly more proficient in leveraging Large Language Models to accomplish various tasks. This is precisely why I’m letting you know of a brand new freeCodeCamp course on Prompt Engineering, hosted by Ania Kubów. In this course, you’ll learn invaluable techniques such as Few-Shot Prompting, the utilization of Vectors and Embeddings, and how to mitigate AI hallucinations, equipping you with the skills to navigate the AI landscape with confidence.  This is a free 1 hour course on YouTube.  After this course, you can ever start applying for a new job title that I am seeing pop up everywhere – AI Prompt Engineer.  This course is great for beginners to experts.

Watch it by clicking the image below:

 
Now Accepting Tips!
3 Ways mPOS Systems Are Changing the Way Consumers Tip
 

Enjoy reading The Propeller?  Leave a tip! Just kidding, no tip is needed. If you want to do me a favor, invite 3 friends to subscribe to this weekly email.  Forward this email to them and then they can subscribe at https://www.leonardmack.com/subscribe

Finance: 2023 Gift Tax Exclusion

The 2023 gift tax exclusion is $17,000.

This means you can gift anyone $17,000 and:

  • You pay $0 in tax on the gift
  • This gift does not count against your lifetime gift/estate tax exemption (currently $12.92 million)
  • The recipient of the gift pays $0 in tax (gifts of this sort aren’t taxed by the recipient)

This $17k exclusion is per recipient and for each person gifting, so let’s say you’re married and you have two children. You and your spouse each can give $17k to each of your children this year, so they each could get $34k in gifts ($68k total) without any tax consequences (or filing requirement) for anyone.

If you want to go deeper here’s an article from Smart Asset.

(If you want to gift me some money, I’m happy to discuss it with you!  😊 ❤️️)

 
 
What I’m Reading/Listening To This Week

My goal of reading one book a week in 2023 is still underway. 

What I read Last week: 

If Then: How the Simulmatics Corporation Invented the Future by [Jill Lepore]

If/Then: How the Simulmatics Corporation Invented the Future by Jill Lepore is a thought-provoking and meticulously researched book that delves into the history of data science and its influence on modern society. Lepore takes readers on a journey through the rise and fall of the Simulmatics Corporation, a pioneering company that sought to predict human behavior through data analysis in the 1960s.

The book explores how Simulmatics used early computer technology and social science theories to analyze data and make predictions about various aspects of American life, including politics, elections, and social movements. Lepore sheds light on the company’s ambitious efforts to shape public opinion and influence political outcomes, highlighting the ethical and moral dilemmas that arose as a result.

Throughout If/Then, Lepore draws connections between the past and present, emphasizing the enduring impact of data-driven decision-making and the ethical questions it raises in our current world of big data and artificial intelligence. She prompts readers to consider the implications of data-driven decision-making, the potential for manipulation, and the need for responsible and ethical data practices.

In essence, If/Then is a compelling exploration of the history of data science, its pioneers, and its ongoing relevance in shaping our understanding of society and politics. Lepore’s book serves as a thought-provoking examination of the intersection of technology, data, and human behavior, challenging readers to critically assess the role of data in our lives and the decisions we make.

 

Pick up your copy here:  https://amzn.to/45Q8P4F

What I am reading this week:

       Built to Move: The Ten Essential Habits to Help You Move Freely and Live Fully by [Kelly Starrett, Juliet Starrett]

 

This book was recommendedh right when my sciatic nerve decided to stage a summer rebellion. Time to dive in and see if it can work some magic, making me feel like a sci-fi action hero instead of a sciatic-woe survivor!

From the Amazon description:  “After decades spent working with pro-athletes, Olympians, and Navy Seals, mobility pioneers Kelly and Juliet Starrett began thinking about the physical well-being of the rest of us. What makes a durable human? How do we continue to feel great and function well as we age? And how do we counteract the effects of technology dependence, sedentary living, and other modern ways of life on our body’s natural need for activity?  

The answers lie in an easy-to-use formula for basic mobility maintenance: 10 tests + 10 physical practices = 10 ways to make your body work better”

Pick up your copy and read/listen along here:  https://amzn.to/3Zb6sra

 

Until my next typo…

 

This is re-published from the weekly email sent by Leonard Mack entitled The Propeller. To subscribe, visit https://www.LeonardMack.com/subscribe and read it every Sunday evening.

This intellectual nourishment is intended for informational purposes only. One should not construe anything herein as being legal, tax, investment, financial, or other advice.

My rule is this – I have no advice to give, only experience to share. I have no interest in being a guru or telling people what they should do. Rather, I share my own experience because there is no right or wrong. Your mileage may vary.

Related Posts