By Burton S. Blumert
February 12, 2015
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After years of working for Reed’s in the South, there was an opening in the company’s California territory. Moving to a suburb south of San Francisco in 1958 was irresistible. My base was in San Mateo County’s new regional shopping center and nearby was a Coin Shop geared toward collectors. I soon befriended the owner. Within three months I evolved from a coin-collecting customer to becoming his partner. For a while I split my time between both businesses, but I knew I would have to decide upon one or the other. It wasn’t easy deciding between the security of the old-line retail firm or the risk of going on my own. I chose to go out on my own. I never had time to suffer any remorse. Incidentally, the security of Reed’s was an illusion. Two years after I sold my first gold coin, they were out of business.
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Burt Blumert (1929-2009) was owner of Camino Coins, president of the Center for Libertarian Studies, chairman of the Mises Institute, publisher of LewRockwell.com, and the author of Bagels, Barry Bonds, & Rotten Politicians.
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Note the illusion of security by being an “employee” as opposed to “being in your own business”.
It’s a akin to saving your money in bank CD as opposed to investing it in the market (in, of course, a well diversified set of asset classes).
I’ve often pontificated that having 10 ½ day “part time jobs” is much more secure than on better paying full time job.
And, I’ve warned to income families, where both spouse work for the same firm or are even in the same line of work, about the risk they are taking.
So forewarned is forearmed, and start finding those “part time jobs”.
You never know how things will change.
Especially when your “secure job” goes “bye bye”.
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