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The Propeller – I’m a Billionaire! … and so are you! – 3-10-2024

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Your Financial Health Checkup – Do these every Year!

Knowing where you stand financially is empowering. Here I will cover three resources that can help you monitor your credit health and plan for the future: free credit reports, C.L.U.E. reports, and Social Security statements.

1. Free Credit Reports: Your Financial Fingerprint

Your credit report is a snapshot of your credit history, including loans, credit cards, and payment behavior. It’s crucial to review it regularly for errors that could impact your credit score. You are entitled to a free credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) every year.

Here’s how to get your free reports:

2. C.L.U.E. Reports: Understanding Your Insurance Risk

C.L.U.E. stands for Comprehensive Loss Underwriting Exchange. This report contains information about your auto and home insurance claims history for the past seven years. It can be used by insurance companies to assess your risk and set your premiums.  This is used in determining your insurance rates, and there are often errors on these reports.  Check it to correct any errors!

You can request a free C.L.U.E. report once every 12 months by contacting LexisNexis Risk Solutions, the company that maintains the report. Here’s how to reach them:

3. Social Security Statements: Planning for Your Future

Your Social Security statement provides an overview of your earnings history and estimated retirement benefits. Reviewing it regularly can help you plan for your future and ensure your earnings record is accurate.

There are two ways to access your Social Security statement:

  • Create a my Social Security account (https://www.ssa.gov/myaccount/) – This online option allows you immediate access to your statement.
  • Request a mailed statement – If you don’t have a my Social Security account, you can request a mailed statement by calling 1-800-772-1213 or visiting your local Social Security office.

By taking advantage of these free resources, you can take charge of your financial well-being. Regularly monitoring your credit reports, understanding your insurance risk profile, and planning for your retirement can bring peace of mind and empower you to make informed financial decisions.

March 14th is Pi Day!  (3.14)

It’s Pi Day: Let’s Get Irrational About Pie!

Hey there, math nerds and pie enthusiasts! It’s that time of year again – March 14th, otherwise known as Pi Day (because, well, 3.14…get it?). This week, we celebrate the never-ending, circle-loving number pi with, of course, pie.

Why Pie?

Because sometimes, the best way to understand a mysterious number is to devour it in delicious pastry form. Plus, let’s face it, memorizing endless digits of pi is hungry work.

Fun Pi Facts (Because Why Not?)

  • Pi is an irrational number, which means its decimal representation never ends and never repeats. Basically, pi is the commitment-phobe of numbers.
  • The record for memorizing pi belongs to a guy named Rajan Mahajan, who recited 70,000 digits! That’s some serious pie-ducation.
  • There’s even a poem about pi called “Ode to a Humble Pi,” which is surprisingly beautiful (look it up, you won’t regret it).

The Most Important Pi Day Takeaway:

March 14th is a day to celebrate the beauty of math, the deliciousness of pie, and the fact that even the most complex things can be fun. So grab a slice, raise it high, and let’s all get a little irrational about pi!What is your favorite type of pie?  Drop me an email!

Only Change 2 Things at a Time

While training in medical school, doctors are taught to recommend only two changes at a time to patients.Otherwise, there is a high chance that the patient wouldn’t stick to any of them.This is because changes (even positive ones) register as stress to the brain and body. And making more than two changes at a time can overload and overwhelm the person to the point where they don’t do anything.The scientific term for this is the Resilience Rule of 2.So the next time you’re offering someone advice, try to only recommend two changes at a time.Whether you’re giving a friend, co-worker, or employee advice, only recommend 2 changes at a time.  Once they master those changes, then you can pile on more.If you give too many pieces of advice, chances are they’ll be overwhelmed and do none of them.

A Time Billionaire

A million seconds is 11 days. A billion seconds is slightly over 31 years…I feel like in our culture, we’re so obsessed, with money. And we deify dollar billionaires.  Yet can applaud time billionaires. When you’re young, you are literally rich with time. At age 20, you probably have about two billion seconds left (assuming you live to 80). By 50, just one billion seconds remain.  Time is our most precious asset.Most of us fail to realize the value of this asset until it is gone.

 

 

 

 

Pneumonoultramicroscopicsilicovolcanoconiosis is the longest word in the English language!

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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