Silver Lining or Silver Mining?

Posted on April 20, 2012 at 5:41 pm

I was having a whiskey in the Pipeline Lounge when I met Jeff.

Reno. They say it’s the biggest little city in the country. I’m not quite sure what that means, but this stop was pretty interesting. When speaking to the crew and brainstorming on how some of our interviews will progress, I was affirmed of our goal for all of us to just have open, honest and frank discussions with everyone we meet.

Smoking indoors is such a weird thing these days, but still quite novel, so I welcomed Jeff when he asked if he could have a seat and share a smoke with us. He appeared to have been in the casino for a while drinking Michelob and puffing Camel Wides. We chatted about his relationships, the calling habits of ex’s, and driving cabs, his new career.

While serving the streets of Reno as a cabbie sounds like an adventure to me, it was hardly his first choice. I let him know we were in town for work, spreading the word about the “looming retirement crisis.” How folks weren’t saving enough and that we need to find a solution. He quickly remarked he’s got his retirement plan all set.

“Do you know what silver mining is?”

“The kind where you chip into the earth for the metal?”

“Nope. It’s how I’ve made a living and paid my $800 rent.”

Basically, silver mining can be described loosely as found money. You see a $5 poker chip on the floor of a casino, it’s yours. You found it. It’s not stealing if it’s laying on the ground. Now that most slot machines are electronic, folks leave small winnings on a machine, 5 cents, $5, $500. However, you cannot just take that as your own.

Money left on a machine, be it slot or otherwise, legally belongs to the casino. If you’ve got a career in silver mining, you’ve gotta have a few bucks at the ready. Insert your dollar, win a little bit, take the money out and you’ve made some cash. If you’re like Jeff, you could make $150/night. That’s more than enough for rent, food, and some cheap, cold beer.

This gave me cause for reflection on what retirement actually means. Is it simply saving via any means necessary? Is an extra job taken strictly for savings the solution? I’m a big believer in working smarter, not necessarily harder.

Still searching for the solution. Next stop: Las Vegas, Nevada.