Having nice and valuable things is great, but keeping them in mint condition and keeping them safe can be a bit of a hassle at times. Whether it’s your investments in NYSE stocks such as shares in Alamos Gold Inc (AGI), classic or exotic cars, or your collection of Patek Philippe grand complication and super complication luxury watches, you don’t want to lose them.
So, how can you protect your investments and other valuables? In this article, we’ll give you some tips to help keep your valuables safe and in mint condition and your investment portfolio profitable.
Invest in a display case for valuables you want to show off.
Not all valuables should be hidden away in your safe deposit box. After all, who goes online to shop Patek Philippe watches or Rolex perpetual timepieces only to hide them? If you have smaller valuables that you want to display, you should consider investing in a glass display case that comes with a heavy-duty lock or combination system.
It’s important to do your due diligence before investing in a display case. The display case will be an investment in and of itself, but it will be well worth it to let your valuable Patek wristwatch or Tiffany bezel bracelet collection shine the way it’s meant to.
Put your valuables in an irrevocable trust.
Another great thing about valuables is you can pass them down to future generations to enjoy or utilize. Indeed, if you have a significant estate and valuable assets, you should schedule a meeting with a financial advisor to set up an irrevocable trust. You can put anything in an irrevocable trust, from your stocks in Alamos Gold to ounces of gold.
When you purchase valuables, whether we’re talking about luxury watches or ounces of gold, you must invest in their long-term care if you want them to maintain their value. It’s wise to do everything in your power to protect them from degrading and theft. With an irrevocable trust, you can protect valuable assets, from your quarterly dividend to your cash from taxes, creditors, and more.
The trust transfers possession of the items therein over to a trust manager until your passing (or other specified time) for their dissemination to your beneficiaries. Anything you put in an irrevocable trust no longer belongs to you, but it protects your assets for your heirs. This ensures no one but your beneficiaries gets your valuables when you pass away.
Put alternative investments in a safe deposit box.
Of course, you know you can put your money in a bank and probably already do. However, you can also store some of your valuables there. Almost every bank in the United States offers safe deposit boxes, which clients can access during bank hours.
The way a safe deposit works is you store your belongings in a box in the bank’s vault. Both you and the bank have a key to the box, and it takes both keys to open the box. So, if you own loose pearls, diamonds, a couple of grams of gold, or other precious metals or jewelry, you could place them in the safe deposit box for safekeeping. This is a great option for those who purchase valuable physical assets for the sake of investing rather than merely collecting.
One of the best ways to protect small valuables such as precious metals and timeless timepieces is to put them in a safety deposit box at a bank. Of course, you could always show off a couple of ounces of Alamos Gold’s bullion and your Patek Philippe watch collection in a secure display case. You should also consider putting large valuables like antique cars and other valuables in a self-storage unit. Placing your valuables in an irrevocable trust for your beneficiaries is also a great way to protect them. All of these services and tips can help protect your valuable investments.
