Ted Bauman Encourages Investors To Protect Their Assets In Case Disaster Strikes
Ted Bauman is a writer an editor with Banyan Hill Publishing, and he has been serving investors for years through his advice and experience. He focuses mainly on low-risk investing as well as asset protection and reaches people through The Bauman Letter, Plan B Club, and Alpha Stock Alert. He was born in the United States but emigrated to South Africa as a young man and lived there for 25 years. He earned postgraduate degrees in economics and history at the University of Cape Town in South Africa and has helped millions of economically disadvantaged people through his work with nonprofits.
Ted Bauman wants investors to plan ahead for disaster or any other kind of unexpected turn of events. One way to do this is to always have a portion of your assets kept somewhere financial institutions can’t get a hold of it. Many people do this by keeping cash, jewelry, or other valuables at home, but fires or other natural disasters could destroy a home. To prevent the ruin of all of these kinds of assets when a natural disaster strikes, Ted Bauman has some recommendations.
One of the first of Ted Bauman’s recommendations are to keep a lock box or home safe on-hand where artwork, guns, cash or other valuables can be kept. It is best to bolt the safe down, and it is even better to open up a safe-deposit box at a bank. The only problem with this strategy is the fact that valuables inside of a safe-deposit box are not covered by the Federal Deposit Insurance Corp. Investors may also consider getting a safe-deposit box at a foreign bank like one in Switzerland. Independent vaults in the United States are another option because they are not regulated by the government or courts. The downside with these is that a court can take a look at the inside of your vault by issuing a court order.
Ted Bauman believes a better solution is to open up a discreet vault with a foreign vault company that doesn’t bow down to the IRS or government regulations. You also don’t have to report cash, gold, or silver assets. Some companies can build personalized vaults, and these are a decent option, too.