Ted Bauman Explains How to Keep Your Collectibles and Money Safe

A University of Capetown trained Economist Ted Bauman edits “The Bauman Letter”, “Plan B Club”, and “Alpha Stock Alert” for Banyan Hill Publishing. The newsletters help readers protect their wealth. For 25 years Ted worked for non-profits like Slum Dwellers International that provide housing for the less fortunate.

Ted Bauman advises against keeping valuables at home or even in a safe-deposit box. Valuables stored at home are susceptible to loss from burglary, fire or natural disasters. For home storage keep valuables in a fire and waterproof safe that is bolted in place

Safe-deposit boxes have their advantages but, items in a safe-deposit-box are not covered by the FDIC. The bank and the government will both know the items exist. Rent a safe-deposit box from a foreign bank. The government cannot seize items kept in a foreign bank and the bank does not have to comply with US court orders.

With the exception of a court order, in the US private vault companies do not have to share your information with the government, . An independent vault in a foreign country puts your valuables beyond the reach of the government and the IRS. The downside is these vaults are expensive, and with the exception of New Zealand, you can’t open an account remotely. You will have to travel to the vault company’s physical location.

Ted Bauman suggests that people protect their finances with full-disc encryption. This is the one cyber-security measure hackers cannot defeat. The encryption software will not impede a computer’s performance and takes less than an hour to install.

Microsoft and Apple offer encryption tools, but Ted recommends programs like DiscCryptor which is open-source. Encrypting your hard drive means using a password to start your commuter. Instead of password Ted Bauman recommends a harder to defeat pass sentence.

Using services like PayPal, Google Wallet, and Apple Pay are safer than using credit or debit cards. Using Square Cash and SnapScan make cardless ATM transactions possible and eliminate the risk of card skimming. Pay close attention to your 401(k). The retirement accounts are a popular target for hackers.