Social Security- not what you are thinking

How to pass, fit in, eventually set an example, and ultimately lead the way.
Riggerjack
Posts: 3186
Joined: Thu Jul 14, 2011 3:09 am

Re: Social Security- not what you are thinking

Post by Riggerjack »

7w5, you certainly choose odd ways to eventually ask a question. I'd given up on this thread before you got around to asking:
Maybe I'm not explaining very well, but there are a lot of contracts we enter into that involve other people that are more likely than not to fail in some manner eventually, but it is still the case that the sum of these entered into, worked upon, and then failed contracts over time is better than doing everything in a more self-reliant manner. So, what I am trying to figure out is how to best plan for failure rather than suffer the losses associated with planning to avoid it?
And suddenly this started to make sense. The best way is to plan the failure, and sometimes help it along. To explain will take a long story, those not REALLY interested in what a manipulative bastard I can be should move along. This will be long, and not particularly interesting.

I'm cleaning up a rental for sale. I hired labor off of Craigslist. The problem with a humming economy is it is hard to get someone to operate a shovel for $20/hr, and I had just injured my knee. I had burnt through a few unlucky volunteers and this is where S enters the scene.

S is strong, 23, clearly not the sharpest tool in the drawer, with a history of working manual labor jobs. I have him work basic landscaping for a while, then show him how to lay pavers, and then strip paint, prepping to repaint the exterior. He did great work when I worked with him, and I arranged for him to come strip paint the next day, while I did something else, and since the house was empty, gave him a key.

The following day, we come back, and S has used the pressure washer to strip paint, damaging the siding, exactly how I had told him not to do it. And he turned out about an hour and a half's work and claimed 6. (No problem, I knew this was a possibility before I set this up. Now I know S can't work on his own. Cheap lesson, $90.)

But at the end of the day, my DW notices my nail gun is gone. Look all over, it's gone. S never saw it. Uh huh. well, I didn't need it to finish the job, and it was $99 new on sale. S wasn't the only one with a key, but I knew the other guy, for 15 years. He didn't grab my cheap knockoff gun. DW is pissed. S leaves with his girlfriend, I round up the tools not needed, and take em home, generally clean up a site that shouldn't have gotten so messy anyway, and choose a few tools to leave out.

Go home, come back with my lock box, and change the locks on all the doors. S is working outside. I make sure to keep an eye on him, I'm looking for odd behaviour. Then I spot it. He's carrying his jacket from the side of the house he is working on, to the side he's not. We're close to end of day, so I yell to my wife, asking where the hose nozzle is, then go on that side of the house, moving stuff around, and moving his jacket at the same time. My nice metric gear wrench set falls out with a clatter, and S comes around the corner, looking guilty and a bit stupid.

At this point, he has lied, cheated, and stolen from me, but, I'm injured, need the work done, and even with these costs adding up, S is a known evil, and the previous laborers were weak enough to make him valuable, still. So I look him in the eye, and ask if he has seen the hose nozzle, then wander off looking for it. I went around back where DW is cleaning up, ask her to look on that side of the house for tools, and mention the wrenches specifically. She grabs them, unaware, and continues the clean up.

Soon S comes up, looking sheepish, and apologies, he should have just asked to borrow the wrenches, blah blah. I tell him fine, and loan him the wrenches, pointing out that they are my favorites, and Costco doesn't sell them anymore, so please return them in the morning. He's surprised that I want him back.

Now, I know there's a 50/50 chance I never see S or the wrenches again. But, even with the problems, he does good work, and now he has some guilt to work off if he comes back, and no hard feelings if he doesn't. It's always good practice to let the really stupid and flawed ones feel like they had a victory.

He came back, worked like a fiend for a few days, then back to normal, then stopped showing up.

I replaced him with 4 ex cons, but that is a different story.

So, let's review. I took a risk hiring strangers off Craigslist. I took another leaving him alone with a key.
I took another after he lied and cheated, and another after I knew he stole, and another to catch him, and another to bring him back after I caught him.

But in each case, I had a limited downside, and as each problem developed, I reduced my risks, and accepted the losses as part of the cost of doing business. Even with all the losses, I feel like I came out even, when you factor in the value of the story, which I've told a few times now.

Some folks think I'm gullible, others, too forgiving. I am neither. I was never wronged, I was just wrong. I took risks, knowing that things could go as they did, and really, they could have been much worse. I gave S every chance to succeed, knowing I would profit if he did, and that my losses would be minimal if he didn't.

So, I would encourage you to take risks, but only after checking to ensure failure does minimal damage, and sometimes it helps to encourage the failure, so you can control the fallout. As I did when I chose which tools to leave out.

I hope that helps. Good luck.

7Wannabe5
Posts: 9375
Joined: Fri Oct 18, 2013 9:03 am

Re: Social Security- not what you are thinking

Post by 7Wannabe5 »

@Riggerjack:

Gotcha-lol.

I think the risk in my recent lifestyle portfolio has mainly resulted from spreading my eggs into so many baskets, it's less like one sturdy parachute, and more like a fistful of brightly colored helium balloons. So, even though I am clearly able to float along happily with a certain size clutch of balloons, I don't know exactly how many can pop, yet leave me with enough left to keep me from landing on my butt. Luckily, it seems like I am still doing okay ;)

EdithKeeler
Posts: 1099
Joined: Sun Sep 01, 2013 7:55 pm

Re: Social Security- not what you are thinking

Post by EdithKeeler »

I'm late coming into this discussion, but to me the answer to this question is risk management (which is also my profession). In any endeavor or relationship, it essentially comes down to three questions:

1) if I enter into this arrangement or relationship, what are the possible positive and negative outcomes?

2) what can I do to either prevent or mitigate the negative outcomes?

3) even if negative outcomes happen, is it still worth it to me (however you choose to define worth here) to engage in this relationship or endeavor?

So, anticipate that it's possible that your business partner might do something that affects you--address it in advance in the partnership agreement. Your teen daughter starts a drug habit and starts pawning your stuff: rehab numbers and safe deposit box. Your aunt could change the password: decide it's not worth the hassle and have a private plan for a few extra bucks.

Into every life a little shit must fall, but if you're smart about relationships and planning for possibilities, it doesn't have to be a catastrophe.

And I personally don't believe the MBTI has much to do with it (or anything, frankly). It doesn't predict for mental illness , it doesn't anticipate the actions of others around your partner or whoever, so I don't see much point in relying on that.

Post Reply