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Showing posts from June, 2019

Odds Are, You Have Never Seen One of These

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By Michael Cochrum
We like to know our odds.What are the odds that you will be struck by lightning?In the span of one year, that could be one in 700,000, but in your lifetime, one in 3,000[i].Yikes! That is a little too close for comfort.How about the odds of dying from cancer?There are a lot of factors here, but roughly your odds are about 0.5%, or 5 in 1,000[ii],about the same as your chances of dying in a car accident.Living in America, your odds of being a victim of murder is about 1 in 6,000.According to a 2002 Department of Justice study, the chances of you being murdered by someone close to you as opposed to a stranger is 74%[iii].So, based on the odds of getting struck by lightning and the odds of being killed by someone close to you, why on earth would one ever plan a family reunion at an outdoor venue.Would you agree, knowing our odds helps us to make better decisions?
I find it interesting, however, that when I conduct training classes with credit union lenders, many of the…