Ted Bauman, who is an editor at Banyan Hill Publishing, has an educational background that includes advanced degrees in economics and history. He spent 25 years in South Africa where Ted Bauman worked for nonprofits including Habitat for Humanity. He also helped get Slum Dwellers International off the ground which now provides assistance to people in 35 nations.
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— Ted Bauman Guru (@TedBaumanGuru) October 1, 2018
He says that he learned a lot when he was younger worked jobs at Burger King and McDonald’s. It taught him what it is like to work physically demanding jobs all while getting criticized by managers. Ted Bauman just wishes that he had been more productive early on his career. It took him a while to learn that you should figure out what your most productive time of day is and then perform the bulk of your work during that time.
A relative of his recently passed away and while their children were going through their stuff they found a pile of precious metals, cash, gems, and collectibles. While it’s good to keep some assets out of the hands of financial institutions they should be protected, he says. Ted Bauman said that this relative’s house was once almost engulfed in flames and these assets would have been destroyed.
If you’re going to keep these assets in your home you should protect them from accidents and theft. He shared five ideas for doing so in one of his financial newsletters, The Bauman Letter. The first was to invest in a home safe or lockbox that can be bolted to the ground and is fireproof. You can also keep these assets in a bank’s safe-deposit box. He also recalls that in Greece the banks were once forced to give the government everything in their safe-deposit boxes so that is something to keep in mind.
Ted Bauman says you could get a safe-deposit box at a bank in a foreign country. Switzerland would be the best choice due to their banking laws. He says another choice is an independent vault not managed by a financial institution in the United States or, finally, one in another country.