Ted Bauman is a financial analyst who looks at different trends and news in real estate and precious metals among others, and he gives his newsletter readers insights on what those trends mean to them. He writes articles for Banyan Hill as well, and in one of those articles he discussed how investors should protect hard assets. Precious metals are by far the most important precious metals for when the economy takes a downturn, but Bauman said it’s also good to have cash and jewelry on hand for such situations as well.
“The IRS agrees with us: Current tax rules treat cryptocurrency as an asset rather than a currency.”https://t.co/ktZIokKvm7#AssetProtection #Retirement #Commodity #Money #ProfitableInvesting #WealthProtection #Commodities #NaturalResources #OptionPlays #Opportunity
— Ted Bauman Guru (@TedBaumanGuru) March 27, 2018
Ted Bauman recommended three ways to protect hard assets which included safes, bank deposit boxes and vaults. Safes had the advantage of being able to keep in your own home with access whenever you need, and you can manage their security. The disadvantage is that thieves could find out you own a safe and figure out a way to get inside it. Also you have to spend more money to get safes that can resist natural disasters. Investing in a bank deposit box offers a little more security advantages than a safe, but it has disadvantages such as different bank fees to maintain it, being subject to certain tax laws and even vulnerable to government confiscation. Batman’s most recommended protection was to invest in either a foreign bank deposit box, or a vault company. Those offered security unlike any other and items stored in them could not be seized or taxed. The only disadvantage was that these options were the most expensive.
Ted Bauman has been both an investor and a financial consultant to firms and non-profit groups around the world. He was born in Washington D.C. but spent many years in South Africa where he got his bachelor’s degree at Cape Town University. He helped the South African housing authority with various developments in their cities and also worked with a few humanitarian aid groups to fight poverty and hunger. Ted Bauman even helped start Slums International which helped many homeless people find housing for much cheaper prices than what most of the market had available. After years of traveling the world, Bauman retuned to the US and served a few years as managing director of Habitat for Humanity. He then retired and joined Banyan Hill with a new found interest in investing, and most of his insights are shared in “The Bauman Letter.”