Ted Bauman is one of Banyan Hill’s main editors whose expertise covers not only the stock market, but also using your funds to invest in physical commodities including precious metals. But in his latest article he wrote about going beyond just owning those assets to investing in protection. Your physical assets may not be vulnerable to cyber attacks, but if they aren’t protected they are still vulnerable to physical burglary and acts of nature like fires and floods. Bauman recommends five ways to keep liquid assets safe.
If you prefer having them where you can get to them at any time of day or night, Ted Bauman recommends a home safe. Different safes have different levels of protection on them, but high quality ones can be concealed and withstand attempts of theft or mother nature destroying the home around it. If you’d rather have your assets guarded by professionals and located where nobody can get them without major authorization, a bank safety deposit box might be your answer. Bauman considers foreign bank safety deposit boxes as a third option because these cannot be seized by your home country’s government without going through major regulations. The fourth option is to have a vault company hold your assets because they aren’t subject to as much government oversight and it’s even more difficult for your assets to be confiscated from here. The final option is the most expensive one, but if you’re willing to invest huge in security, your assets stored here practically can’t be taken, and Bauman mentions they’re not subject to IRS reporting. Read this Article at analystoffinance.com.
Ted Bauman has been with Banyan Hill now for nearly five years sharing advice he’s gained over the course of his finance career. He was born in the US but lived a long time in South Africa where he worked with government agencies, non-profits and even UN coalitions. His primary focus was housing solutions for poorer families, but he also did some city planning and loan services work. He continued this work after returning to the US and becoming a director at Habitat for Humanity. Then he retired and decided to join Banyan Hill and inform his newsletter readers on solutions for precious metal investing, traditional stocks and IRAs and real estate ownership. Bauman does sometimes get into healthcare, life insurance and a few other odds and ends as well, and you can read about them in his newsletter The Bauman Letter on Banyan Hill’s website.