Financial Expert Ted Bauman: Strategies to Protect Your Assets
Financial expert Ted Bauman recommends keeping part of your wealth in secure safe deposit boxes at banks and foreign vaults to protect your money from disaster scenarios. Bauman has spent his entire career helping people to protect their resources, so his recommendations influence many investors. He attended the University of Cape Town in South Africa where he earned postgraduate degrees in economics and history. An economist by trade, Bauman worked for many years in South Africa in executive roles for low-cost housing projects, hedge funds, nonprofit companies and even urban planning. He returned to Atlanta, Georgia, in 2008 and later joined Banyan Hill Publishing where he edits “Alpha Stock Alert,” “Plan B Club” and “The Bauman Letter,” which has more subscribers than any other newsletter published by Banyan.
Safeguarding Wealth from Political Turmoil, Economic Chaos and Other Disasters
Protecting your wealth is critical in today’s uncertain times, and Banyan has long been an advocate for diversifying and protecting assets. Economic and political mayhem can result in losing a great part of your wealth or having your funds frozen for an uncertain period of time. Shifting some assets into precious metals and jewelry is a sound way to diversify your portfolio without the risks of converting assets to cash. At a minimum, Bauman recommends installing a large safe to store liquid assets and weapons for self-protection. He warns that “it’s worth contacting a safe contractor to see about your options in this respect.”
However, Bauman believes in diversifying your assets in multiple ways, and strongly recommends putting some of your assets into secure outside storage options. He has advocated this approach frequently over the years in “The Bauman Report.” The storage options that Bauman recommends include safe-deposit boxes at U.S. banks, safe-deposit boxes at foreign banks, vaults at nonfinancial institutions and foreign vaults. There are sound reasons for each of these recommendations.
Bank Safe-Deposit Boxes in the United States
Ted Bauman grew up in the United States but emigrated to South Africa where he spent 25 years. He has consulted with African and European governments, delegates to the united Nations and American economists on a wide range of economic issues. In 2008, he returned to the United States to work for a nonprofit organization as the director of international programs. After joining Banyan Hill Publishing, Bauman quickly established a reputation for providing practical advice to protect wealth and assets.
Bauman recommends storing some assets in U.S. safe-deposit boxes because your assets are generally secure and easily accessible. However, there are some disadvantages as well:
- Safe-deposit box contents aren’t insured by the FDIC, so you need separate insurance.
- U.S. safe-deposit boxes can be targeted for civil and criminal investigations.
- There is the possibility of court-ordered confiscation of your assets.
- The government could order banks to hand over the contents of safe-deposit boxes in a financial crisis.
Safe-Deposit Boxes in Foreign Banks
Safe storage at foreign banks has the benefit of an extra security layer against court-ordered confiscation of your assets. Swiss banks provide safe-deposit boxes when you open an account, and these banks are known for their strong security protections. Your assets are safe from U.S. government confiscation, and most jurisdictions won’t enforce orders from foreign courts. Any potential claimants would need to start a new proceeding in the jurisdiction where your foreign bank is located.
Vaults at Nonfinancial Institutions
There are private vault companies that can give your assets an increased level of security in the United States. These vaults aren’t subject to the leverage that governments and courts have over the banking industry. In the United States, banks routinely surrender privileged information to the government. Private companies require a formal order from a U.S. or state court before they’ll supply this kind of information.
Foreign vaults at private companies rank among the most secure storage spaces for liquid assets. You can store precious metals, cash and other high-value assets without being reported under the Foreign Account Tax Compliance Act.
Bauman Discusses Changing Gears in Mid-Life
Bauman admits that he enjoys helping people protect what they’ve earned regardless of their incomes and assets. That’s why he became a financial writer. Bauman’s father, Bob Bauman wrote on financial topics, but Ted Bauman was too busy in South Africa to follow his dad’s path to success during the first part of his life. During this time, Bauman had time-management challenges. Being employed in the public sector creates an extraordinary demand of anyone’s time and emotions. Bauman learned that boundaries must be set if you want to be more productive.
Bauman offered this explanation of the demands of working in the public sector, “ I worked in the public sector for many years as the executive director of a housing finance company that worked with very low-income households to construct housing. One of the things that we did was to try an intervention to help those communities develop financial management systems that would allow them to get the most out of the money they had available.”
After returning to Atlanta, Bauman eventually joined Banyan Hill Publishing in 2013 and finally found the time to try his hand at financial writing on a full-time basis. Bauman commented, “I travelled extensively in Africa and Asia during this period, developing a keen understanding of the relationship between political and economic dynamics in various societies. I’ve also published research and commentary in a number of prestigious international journals, including The Journal of Microfinance, Small Enterprise Development and Environment and Urbanization.”
Bauman’s writing includes work for the “Smart Money” service, which is an ETF-trading platform, and “Alpha Stock Alert,” which is a stock-trading service. He developed a trading system with help from Wall street experts. The system provides real-time insights into the markets to help investors make wiser decisions.
Although Bauman espouses protecting your assets and living a sovereign life, he has worked tirelessly to give back to the community in a variety of nonprofit organizations. He helped to establish Slum Dwellers International, a group that helps low-income families find housing. The group has helped more than 14 million people in 35 countries.
Bauman has devoted years to helping people from all socioeconomic classes lead better lives. He advocates working hard to find ways to protect your assets from corporate greed, excessive taxes and governmental oversight. Vaults and safe-deposit boxes can provide security, flexibility and diversification for people trying to protect their financial resources.