1. **State the problem:** Solve the inequality $\frac{1}{2}x - 1 < 3$. 2. **Formula and rules:** To solve inequalities, we isolate the variable on one side. Remember, when multiplying or dividing by a negative number, the inequality sign reverses. 3. **Step 1:** Add 1 to both sides to isolate the term with $x$: $$\frac{1}{2}x - 1 + 1 < 3 + 1$$ $$\frac{1}{2}x < 4$$ 4. **Step 2:** Multiply both sides by 2 to solve for $x$: $$2 \times \frac{1}{2}x < 2 \times 4$$ $$x < 8$$ 5. **Final answer:** The solution to the inequality is: $$x < 8$$ This means any value of $x$ less than 8 satisfies the inequality.