Buying Gold Overseas

The case for holding a chunk of your wealth outside the US, in the form of Gold Bullion...


OUR MAJOR FOCUS
here at DailyWealth is on helping you grow your wealth as quickly and safely as possible, writes Steve Sjuggerud in his free daily email.

But for ideas on how to protect your wealth once you have it, I don't know anyone better than asset-protection attorney Joel Nagel.
 
I've known Joel for a long time. He's one of the nicest guys in the business... and he's spent over a decade helping some of the world's richest people protect their wealth from disasters.

We're in a crazy situation right now in America. Instead of making the future brighter for our children, the government is making things worse.
 
That's why my publisher, Stansberry Research, recently held a private conference call with Joel...and he shared some great ideas. Given the problems I've written about recently, I wanted to share some of them with you today.
 
Stansberry Research: Joel, could you give us an overview of what you recommend folks do to protect themselves from the things we see happening in the next few years – whether they have $5 million in the bank or $50,000?

Joel Nagel: It really does come down to the level of financial wherewithal a person has and what they're trying to protect. The strategies are very different for somebody who has, say, $50,000 that they want to protect as opposed to somebody who has millions of Dollars.

We advise our clients to consider opening up a foreign bank account based outside the United States. This will give you the ability to open cash deposits in foreign currencies. It'll provide you with insurance should something happen to the Dollar or the US banking system. And as you mentioned, in the event of future currency controls, you'll already have a nest egg outside the United States from which to operate.

Secondly, along the same lines, foreign currencies – most of our clients look to have some portion of their net worth held outside the US Dollar. And again, you don't have to be a millionaire to hold an account with some Swiss Francs, New Zealand Dollars, Canadian Dollars, Australian Dollars...

There are plenty of currencies that aren't based on the huge debt model the US Dollar has taken on, and therefore aren't as susceptible to the kinds of crashes the US Dollar is going to face.

Stansberry Research: How about Gold Bullion and other precious metals?

Joel Nagel: You don't have to be that wealthy to consider owning precious metals either. We recommend clients hold at least 10% of their net worth in gold, Silver, platinum, palladium. And the precious metals should be located outside the United States.

Along with metals, physical metals, you have metal certificates, often referred to as "foldable gold" that you can quickly and easily move from one location to another and redeem either for physical metal or for cash later.

Stansberry Research:
How about another idea?

Joel Nagel: Foreign real estate rounds out the bottom category – again, having not only foreign real estate as an investment, but also as a physical safe haven where you can go not only for vacation, retirement, or any other reason that you wish to leave the United States.

There are several easy steps you can take to safeguard your wealth. It doesn't take millions in the bank to make it worthwhile. So even though you might not have considered these before, you ought to now.

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Former stock-broker, mutual-fund vice-president and hedge-fund advisor Dr. Steve Sjuggerud is the founder and editor of True Wealth. Launched in 2001 and now one of America's best-followed newsletters for private investors, True Wealth also provides free analysis and ideas in the Daily Wealth email service.

See the full archive of Dr. Steve Sjuggerud  articles.

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