Is playing it safe now the new risky?
Randy Gage, wrote a book called ‘Risky is the new safe’. Which highlights this very question.
Risk is now considered safe.
Upside Down World
From a young age, it’s beaten into us to ‘play it safe’. Our parents tell us to;
- Study hard and get good grades. Learn a trade and get a good job at a good company.
- Work hard and keep your mouth shut. Keep your head down and don’t make waves.
In my humble opinion, this is the riskiest thing you can do.
The premise of Randy’s book is that things that were once considered risky, have turned out to be very safe indeed. This was also the case during all economic conditions. Especially the downturns.
Having the “good job” turned out (in hindsight) to be the bigger risk.
Why is this the case?
I believe society is brainwashing us. You see it all around.
I’m guessing it’s because everyone worked for their (themselves) own interests. Who would be left to do the other work?
What’s your tolerance for Risk?
In my opinion, relying on that ‘good’ job is the bigger risk.
Think about it like this.
You are taking all your eggs and putting them into one basket and giving it to someone else to look after. A person whose first concern is not for your welfare.
You’re handing over your life to another person to control. This ‘someone’ controls who you are and all the people you support by means of your income.
That is pretty scary.
Here is another thought.
What is the least amount of time your employer has to give you in the form of notice? You know, to terminate your employment.
Is it 2 weeks? Is it a month? or 2 months?
Whatever the period. That is all you have. This is your margin of safety. To me, this is a high risk.
If this is you. Now! You need to de-risk.
How to De-risk?
How to de-risk? I believe the best way is to Start a side business.
People often tell me that being in business (being your own boss) is risky.
That being an entrepreneur is risky.
Maybe they’re right maybe they’re not.
However, I disagree!
I think the long-term benefits of being in business outweigh the benefits of a lifetime of employment.
Pick up any finance magazine at the newsagents, such as Forbes or the BRW rich list.
You will find everyone listed there is either;
- in a business
- is an entrepreneur
- or their own boss
Why is that a FACT?
Because you can never get rich in a job unless you have 50 years to do it.
De-Risk Check-list
- Set up a side business while you are young or you have a ‘secure’ job
- Get everything to work in your spare time (away from your day job)
- Quit when you have sufficient income to replace the 9-5 job
- Or do both and make a killing while having a job insurance policy
Learn more about the pros and cons of starting a business
Is playing it safe now a risky activity? Let us know your thoughts in the comments below.