What is the safest legal way to store one million dollars cash outside of banks?

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LaurentG
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What is the safest legal way to store one million dollars cash outside of banks?

Post by LaurentG »

Keeping cash which depreciates by roughly

50% every 7 years is not a great idea.

But if you don’t like banks, and want to

do something foolish with your millions,

like just storing it in cash,

there are such things as private, non bank

storage or safe deposit box facilities. If you want smaller size, you
can convert it to larger denomintion bills — 1000 in Swiss Francs worth
the same as dollars,

or 10,000 Singapore dollar b ills each worth around $7000.

Private, non bank storage or safe deposit box

facilities are probably better than doing what

that drug lord, Pablo Escobar did—- burying cash in

plastic bags and garbage cans.

Later finding out that his millions

in paper money had often been

1) Eaten by rats, roaches or termites…

2) become damp-wet & eventually paper maché.

3) Had been found and dug up by

unknown persons, cops or rodents.

You might also buy precious metals in coins or bars,

and bury or store them. They wont deteriorate.

If I had any, I’d store my extra millions

by purchasing warehouses, or other

real estate, preferably net-leased with no

management problems and a nice 10% a year income.

Do it in other countries if you want to keep a low profile.

I hope all the Quoran readers with millions in extra

cash will benefit from this advice.

But for more practical stuff, see my many other answers.

PeterTaradash.com <http://petertaradash.com/>

PS : If you're considering storing such a high amount of money outside of banks, you could be interested by this safe and competitive offshore gold storage service.You can get an account from them from virtually any country. You're legally allocated the amount of gold you paid. This gold is stored in their vault. It's a good way to avoid inflation. Take the time to read their FAQs to learn more.

BullionVault
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