The Propeller - Brrrr! Get Ready to Bundle Up for a Frosty Week Ahead! - 1-19-2025

Finance: Annual Financial Checkup – Essential Steps to Attain Financial Independence

A yearly review of your financial situation is crucial. Here’s an outline to help you perform a thorough checkup and work towards financial independence:

Net Worth: List all your assets and liabilities by each account and calculate your current net worth. A simple spreadsheet can help you log this information effectively.

Paystub Review: Spend a few minutes examining your paystub to understand all deductions. This is also an excellent time to adjust your income tax withholding with HR if you’re receiving a large refund but prefer to have more money available throughout the year.

Expenses: Quickly review your bank and credit card statements to get a clear picture of your monthly recurring bills and any significant changes since your last checkup.

Financial Independence (FI) Number: Once you’ve determined your annual expenses, you can calculate your Financial Independence (FI) number. Multiply your annual expenses by 25 using the “4% rule” for safe withdrawals. For example, if your annual expenses are $60,000, your FI number would be $1.5 million.

Taking these steps not only keeps you informed about your financial situation but also helps you progress confidently towards financial independence. Remember, achieving financial independence is all about taking proactive actions. Do the work now, and you’ll move forward with a clear and confident financial plan.

Tech: Beware of Phishing Emails: Stay Safe from Cyber Scams

In the last few weeks, I have had several friends and colleagues fooled by phishing emails. Phishing emails are designed to trick you into revealing personal information or granting access to your devices. They often appear to come from trusted sources such as Norton or McAfee Antivirus, Microsoft, Amazon or other large companies. These cybercriminals are experts at creating confusion, making it easy to be fooled by their tactics.

Imagine receiving an email that looks authentic, with official logos and urgent-sounding messages. They typically say that you have been oversharged and to call to get your amount refunded. Without thinking twice, you call the number in the email and are connected to the scammers (who are most likely sitting in a scam-center in India) and they offer to “fix” your billing or technical issue by you granting them access to connect to their computer. Once you click on the link they sent you to connect remotely your sensitive information is at risk. That’s how sophisticated and savvy these scams can be!

Never Allow Remote Access

One thing to remember: never let anyone connect to your computer remotely unless you know them personally. Scammers often pose as technical support from trusted companies, convincing you to grant them access to “fix” a non-existent issue.

Additional Tips to Avoid Being Phished

Verify the Sender: Double-check the email address to ensure it matches the company’s official domain. Be wary of slight misspellings or unusual addresses.

Look for Spelling and Grammar Mistakes: Legitimate companies usually send well-written emails. Any odd phrasing or errors could be a red flag.

Don’t Click Links or Download Attachments: If you receive an unexpected email, hover over the links to see where they lead, but don’t click. It’s safer to visit the website directly by typing the companies official URL into your browser.

Enable Multi-Factor Authentication (MFA) for all accounts: MFA adds an extra layer of security, making it more challenging for cybercriminals to gain access to your accounts, even if they have your password.

Update Your Software Regularly: Keeping your operating system, browser, and antivirus software updated helps protect against vulnerabilities that scammers might exploit.

Staying vigilant and informed can significantly reduce your risk of falling victim to phishing scams. Protect your personal information and your devices by taking these precautions. Remember, when in doubt, it’s better to err on the side of caution. Stay safe in the digital world!

Tech: Evolution of Apple

Although I don’t personally use Apple products and am not a fan of their control over user experience, it’s undeniable that Apple Inc. has greatly evolved since its inception in 1976. From the Apple I, which marked their entry into home computing, to the groundbreaking Macintosh in 1984 with its revolutionary graphical user interface, Apple has consistently pushed the boundaries of technology. The launch of the iMac in 1998, with its all-in-one design and vibrant colors, set a new standard for desktop computers and hinted at the company’s future innovation.

The introduction of the iPod in 2001 changed the way we consume music and paved the way for the iconic iPhone in 2007. Despite my preferences, it’s clear that Apple has made their devices accessible to users with varying levels of technical skills, essentially making them ‘idiot proof.’ This accessibility serves a large portion of the market, enabling even those who may lack technical expertise to enjoy a seamless and intuitive experience. Today, with products like the iPad, Apple Watch, and an array of services, Apple continues to maintain its reputation for sleek design and cutting-edge technology, redefining the tech landscape for a broad audience.

Here is a view of the last 30 years of Apple products. Have you used any of these products? Which was your favorite?

1994

2004

2014

2024

The Starfish Rule

I recently came across this story:

An old man was walking along the beach when he noticed a young boy picking up starfish and throwing them back into the ocean.

Approaching the boy, he asked, “Excuse me, but what are you doing?”

The boy replied, “The sun is rising and the tide is going out. If I don’t throw the starfish back in, they’ll die.”

The old man shook his head and said, “But there’s too many starfish on this beach. You can’t possibly make a difference.”

After thinking for a moment, the boy bent down, picked up another starfish and threw it into the ocean.

Then, he turned to the old man and said, “Well, I made a difference to that one.”
– Adaptation of Loren Eiseley’s “Starfish Story” (1969) –

It’s easy to adopt a negative mindset in the face of a seemingly enormous challenge. You’re trying to transform your life, but it’s impossible to see how the tiny actions today will ever create the change you seek.

In those moments, remember the little boy from the story:

Bend down, pick up a single starfish, and throw it back into the ocean.

You won’t change your life in a day, but if you change your days, you’ll eventually change your life.

Quote of the Week

“Do not conform to the pattern of this world, but be transformed by the renewing of your mind.” – Romans 12:2

Every single day, the world will push you to conform.

Every single day, it is your responsibility to resist.

The significance of this lies in its call for self-awareness and conscious living. It reminds us that true change starts from within and encourages us to continually seek wisdom and understanding. By renewing our minds, we can break free from negative patterns and embrace a more fulfilling and purposeful life.

To apply this principle, start by evaluating your daily habits and thought patterns. Are there areas where you feel pressure to conform to societal expectations that don’t align with your personal values? Practice mindfulness and reflection to identify these areas. Engage in activities that promote mental and spiritual growth, such as reading or spending time in nature. By consistently renewing your mind, you can create a life that reflects your authentic self and aligns with your core beliefs.

Stay warm and bundled up – unless you’re a snowman, in which case, keep doing you! And remember, hot cocoa is the ultimate defense against winter blues.

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.

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