You’ve probably seen TV ads or read articles about why you should invest in gold, silver or other valuables, but owning them is only the first step. Ted Bauman of Banyan Hill says investing in protection for those valuables is equally as important because you don’t want to lose then to theft or natural disasters. You should consider the five ways he says to keep them safe, the first of which is getting a strong home safe. Depending on how big the size of your assets and how valuable, your home safe could be a small concealed safe or a big heavily-locked one. Read more about Ted Bauman at Bloomberg
Even though Ted Bauman admits safes can be the most common security measure and sometimes the most practical, sometimes you are better off having them stored in a secure location outside your home. Bank safety deposit boxes are one option for that since they’re usually carefully guarded with advanced ID checks to access them. Unfortunately there are still special situations where items in those boxes could be seized by the government. A third option is a foreign bank safety deposit box since assets stored there can’t be seized without direct permission from the hosting country’s government. The fourth and fifth options Bauman mentions are to store your assets with a vault company, or better yet a foreign vault company. They aren’t run like banks and it would be much more difficult for a government to gain access to any assets you store in them. Plus precious metals stored in a foreign vault will not be taxed by the IRS.
Ted Bauman currently lives in Atlanta, but he’s traveled all over the world and has researched different economies and investment markets. He was born in the US but spent a lot of his adult life in South Africa where he got his bachelor’s degree at Cape Town University. His professional career there was spent in urban planning, real estate investing and promoting housing initiatives for poorer citizens. Groups he worked with to remedy the housing crisis there included the South African government and a UN poverty fighting coalition. He returned to the states to do more of the same as an executive for the Habitat for Humanity non-profit for five years. He retired in 2013 and then focused on investing in alternative funds. Bauman became an editor for Banyan Hill working alongside Jeff Yastine, Ian King and Paul Mampilly, and his regular newsletter which shows readers different portfolio diversification strategies is “The Bauman Letter.”