The Propeller – July 30, 2023 – AI-tastic 2023: Rise of the Robot Overlords (Just Kidding, but Not Really)

Hold onto your inflight snacks because this year is flying by pretty fast.  Can you believe it’s already going to be August this week? Wasn’t it just yesterday that we were making New Year’s resolutions with the hope of finally becoming tech-savvy? But now, here we are, trying to summon our AI assistants just to remember what day it is. We’re living in a future where AI technology is advancing faster than you can say “virtual reality.” Before we know it, we’ll be having conversations with our microwaves, and ordering pizza via mind-reading devices. So, hold onto your neural networks, because the year isn’t slowing down for anyone. We’ve got to embrace this AI-driven rollercoaster ride and make the most of the mind-boggling adventure that is 2023!

In my professional capacity, I have the privilege of utilizing cutting-edge technology to empower companies in their pursuit of increased efficiency and profitability. The integration of AI has proven to be particularly transformative, enabling the individuals and companies I collaborate with to perform data analysis at an unprecedented speed. Moreover, AI’s analytical capabilities have led to valuable insights and recommendations, enabling companies to optimize their processes and develop superior products, thus driving sustainable growth and success.  The impact of harnessing rapidly evolving technologies in my professional endeavors is truly remarkable, significantly elevating the quality of products and services utilized daily by a vast majority of you, your family, and your friends. While these advancements may not be readily discernible to you, it is important to recognize the remarkable developments occurring behind the scenes in numerous companies, all thanks to the pervasive application of AI. The remarkable potential of these technologies is paving the way for enhanced experiences and unparalleled efficiencies, thus shaping a more advanced and innovative landscape across various industries.

As we find ourselves hurtling through the months like shooting stars in a cosmic race, I can’t help but wonder: what epic adventures do you have planned for the rest of this year? Are you embarking on a thrilling journey to far-off lands, finally conquering that passion project you’ve been dreaming of, or perhaps diving headfirst into the ever-evolving world of technology and AI? Will you be soaring like a digital nomad, exploring new frontiers, or embracing the coziness of familiar traditions with loved ones? Whatever path you choose, I’m eager to hear about the exciting escapades and marvelous moments you’ve got lined up. So, spill the beans and share your amazing plans for the rest of this unforgettable year!  Drop me an email and let’s catch up! E-Mail me at Leonard@LeonardMack.com (Or just reply to this email).  I’m looking to finish out the year with some traveling to see some friends, so if your city has something fun to do, let me know.  I’d love to explore new places and visit old and new friends.

Money Mule Scam

• Never accept money from an unknown source or accept money for someone else. If you’ve received money from an unknown person via Zelle®, Venmo, Cashapp or other payment services, report it to payment service company.
• Scammers will ask you to send the money back to their accounts, but the payment they made to you will never clear or will be pulled back by their bank, leaving you with the loss.  Do not send them money!  

 
Impersonation Scam

• Never feel pressured or threatened to provide your personal information or transfer money by someone claiming to be a Capital One associate, tech support or even your electric company.
• Call the mentioned company directly to confirm any request. Your Capital One service team’s number is on the back of your debit/credit card and bank statement.

 
Online Purchase Scam

• When responding to ads on social media marketplaces, research sellers and products independently and compare prices with other websites to ensure legitimacy.

Business Email Compromise

• Don’t click on anything in an unsolicited email or text message asking you to update or verify account information. Never send money to a merchant until you can confirm that the request to change a payment destination is legitimate, like a statement from them or a verified customer service phone number.

Just a little tidbit of presidential history.  On July 12, 1957, Dwight D. Eisenhower became the first president to ride in the newest advance in aviation technology: the helicopter.

Although experimental military helicopters had been tested since 1947, it was not until 10 years later that a president considered using the new machine for short, official trips to and from the White House. Eisenhower suggested the idea to the Secret Service, which approved of the new mode of transportation, seeing it as safer and more efficient than the traditional limousine motorcade. The HMX-1 Nighthawks squadron put into the president’s service was initially administered jointly by the Army and the Marine Corps. In 1976, the Marine Corps took over all helicopter operations.

During his second term, Eisenhower used a Bell UH-13-J Sioux to fly to the presidential retreat at Camp David and to his farm in Gettysburg, Pennsylvania. According to the White House’s Military Office, presidents since Eisenhower have used the Sikorsky VH-3D, otherwise known as a Sea King, for travel both in the continental United States and abroad. Most presidential helicopter flights depart and arrive from the White House’s south lawn. The official presidential helicopter is always called Marine One, just as the official presidential airplane is always referred to as Air Force One. Marine One and a second decoy helicopter now accompany Air Force One on all presidential trips. 

Rule #1 – The Tracking Rule
Always track where your money goes each month.  You’ll be amazed at how much you spend the first time you do this.  Nothing creates behavior change like seeing where your money is going.  Remember: This isn’t budgeting, it’s tracking.

Rule #2 – The Employer Match Rule
Always contribute enough to get the full employer match on your companies 401(k).  It’s a guaranteed return of 25%, 50%, or even 100%!  This is, quite literally, free money!

Rule #3 – The Automation Rule
Always automate whatever financial transactions you can. 

• Credit Card and Utility Payments
• Mortgage/Rent Payments
• HSA Contribution
• Investment Contributions

Optimize your finances for laziness.

Rule #4 – The 3-Day Rule
Want to make a $500+ impulse purchase?  Give yourself permission to buy it 3 days from now.  If you still want it after waiting, buy it.  More often than not, you won’t.

Rule #5 – The 2X Rule
Always invest the same amount as your splurge purchases.  Did you make that $500+ impulse purchase?  Make yourself invest that same amount.  This will make every impulse purchase feel twice as expensive – but at least you’ll be getting a benefit of asset growth out of half of it!

Rule #6 – The 50% Rule
Always use at least 50% of any raise, bonus, or windfall to build wealth including: 

• Pay down debt
• Build an emergency fund
• Invest it in appreciating assets

The easiest money to save & invest is the money you didn’t even know you had.

Rule #7 – The Net Worth Rule
Always calculate your bet worth on an annual basis.

• Add Up all your assets
• Subtract all your liabilities

You can’t know where you’re going financially without first figuring out where you are.

Bonus Rule – The most important financial decision you will ever make is to always live below your means.  Spend less than you make.

My goal of reading one book a week in 2023 is still underway.  I am on book number 29 this week!

What I read Last week:

Think Like a Monk by Jay Shetty is a captivating and enlightening book that draws inspiration from the author’s experiences as a former monk. The book imparts valuable life lessons and practical wisdom, encouraging readers to embrace a monk’s mindset to find inner peace and purpose in today’s chaotic world. Three major points stood out to me in this transformative read.

Firstly, Jay Shetty emphasizes the significance of mindfulness and self-awareness as foundational pillars for personal growth. He encourages readers to detach from their ego-driven desires and adopt a more introspective approach to life. By practicing meditation and mindfulness, individuals can become more in tune with their emotions, thoughts, and behaviors. This heightened self-awareness allows them to break free from destructive patterns, make conscious choices, and cultivate a deeper understanding of their true selves.

Secondly, the book delves into the importance of service and compassion towards others. Drawing on his monastic experiences, Shetty illustrates how serving and giving to others can lead to profound fulfillment and joy. By practicing empathy and compassion, readers can build stronger, more meaningful relationships and contribute positively to their communities. Shetty’s insights serve as a reminder that true success is not solely measured by material achievements but also by the impact one has on the lives of others.

Lastly, Think Like a Monk emphasizes the significance of pursuing one’s purpose and passions with unwavering dedication. The book encourages readers to identify their core values and align their actions with their authentic selves. By breaking free from societal expectations and external validation, individuals can create a life that is fulfilling and purpose-driven. Shetty’s practical advice and thought-provoking exercises inspire readers to take actionable steps toward their dreams, making the journey of self-discovery and fulfillment an empowering and rewarding experience.

This book is a powerful and thought-provoking guide that offers transformative insights for personal development. Jay Shetty’s wisdom derived from his monastic experiences instills the importance of mindfulness, compassion, and purpose in achieving a fulfilling and balanced life. With practical exercises and heartfelt anecdotes, the book encourages readers to embrace their inner monk and embark on a journey of self-discovery, leading to a profound and positive impact on both their own lives and the lives of others around them.

Pick up your copy here:  https://amzn.to/44ZKKrZ

What I am reading this week: 

From the Amazon Description:  “Christopher Schacht shares his incredible experiences, revealing what he has learned along the way about life, love, and God, describing touching and bizarre encounters and insights that aren’t found in any travel guide.”

Read along by picking up your copy of the print or audiobook here:  https://amzn.to/471eiY5

Happy Birthday, Dad!

Wishing you a productive and prosperous week ahead!

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.