With uncertain economic times what is the best way to protect your wealth? In 2008-09 many people lost everything they had. Businesses everywhere collapsed, real estate depreciated so much that many lost their homes and even the banks had to be bailed out.
With our current debt crisis and devaluing currency, we continue to live on the edge. Many live day to day stressed about what the future holds. So, is there a real-life solution for our economic crisis? The simple answer is Yes! While you may not be able to control the world economy, you do have the ability to control your own personal economy.
According to the study done by Inc.com, they have revealed 5 assets wealthy people use to preserve their wealth. These 5 assets have become even more popular following 2008 as people have gotten wiser to the frailty of our economy.
The five assets reported were:
– Exclusive real estate
– Fine art
– Rare coins
– Usable precious metals
Make note that 3 out of 5 assets the wealthy have turned to as wealth preservation are precious metals.
Exclusive real estate; they are not talking about your personal residence. They are referring to rare real estate that doesn’t hit the market often like a historical building.
Fine art; isn’t always collected because people love the art, but often because of the maintained value.
Rare coins; according to CNN Money the super wealthy individuals each invest $1.1 million every year on rare coins. Rarity creates a premium that is not as easily affected by the economy. There is an environment of excitement when you own something so rare only a few people in the world have it and you become the strong arm that controls it and its value.
Gold; has always been a store house for the wealthy going back centuries. When an economic struggle has taken place, history has shown us time and time again how the wealthy have survived through simply buying large amounts of this coveted metal.
Usable precious metals; more and more the wealthy are turning to precious metals that have industrial use. This includes silver, titanium and platinum. Silver in particular is being consumed in the electronics industry and may become a rare metal if the current rate of usage continues, rarity equals increased value.
It is vital to preserve as much of your wealth as you can. This will cause you to be protected against the falling value of our currency. Do as the ultra-wealthy do and protect your own personal economy with precious metals and rare coins. You’ll be happy you did!
"A good man leaves an inheritance for his children's children..."