Ted Bauman likes to remind readers of his Banyan Hill newsletters that their savings shouldn’t just be tied up in bank accounts or IRAs. You need to be prepared for any number of turns in the market which is why Bauman recommends having gold, silver and even cash in your possession so that you can meet emergency needs. But having those assets aren’t enough; you also need to protect them. Read this article at Analyst of Finance to learn more.
Ted Bauman Says your primary ways of keeping your financial assets safe are through a home safe, a bank deposit box or a non-financial vault service. A safe is great if you can afford it and it’s built to withstand acts of nature, and you’ll always have access to it. Unfortunately, safes can always be cracked by burglars even if they’re technologically advanced. Bank deposit boxes offer various protection home safes don’t have, but you have pay separate insurance fees for the assets you store in them, and they could be subject in some cases to government confiscation. Foreign bank deposit boxes are better, but by far and away non-financial vaults are the best security. The government cannot come to seize assets from vaults unless they have cut through a lot of red tape with a court order to do so. Plus if you go with a foreign vault service, you can store physical cash in the vault and the IRS cannot tax or confiscate it.
Ted Bauman writes newsletters on using a variety of investments to boost your portfolio both in the stock market and outside of it. His insights are taken from experiences he’s had in 75 different countries and ways that he has found wealth outside of the usual vehicles. Bauman was born in Washington DC but traveled as a young man, and his bachelor’s and master’s degrees were both earned at Cape Town University in South Africa. He worked in the non-profit sector for many years primarily overseeing initiatives to fight poverty and homelessness and get people more access to financing. He was involved in urban development and low-cost housing solutions as director of Slum Dwellers International and worked with committees from the South African government, the UN and World Bank. Bauman retired from his life’s work in 2013 to become senior editor at Banyan Hill, but he still does research on many markets and helps investors find solutions to banking, healthcare, retirement, and a broad range of investments you don’t find too many other places. Visit: https://inspirery.com/ted-bauman/