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Physical Asset Investments.

hickslawns said:
I've found a safety deposit box to be the safest/easiest way to store them and they are not in my home.
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FYI- I have known of an instance where someone has passed away. Enough time passed where it became public information. Family went down to the bank to empty the safe deposit box where some form of liquid assets were kept, and the bank said an irs agent needed to be present to document in the event of “unreported “ cash an such.
Last time was 15+ years ago and things may have changed by now. If not, instruct someone to be at the bank the day after, before it hits the papers.

I’ll be interested to know if this is still an real concern or not.
 
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CJD3 said:
FYI- I have known of an instance where someone has passed away. Enough time passed where it became public information. Family went down to the bank to empty the safe deposit box where some form of liquid assets were kept, and the bank said an irs agent needed to be present to document in the event of “unreported “ cash an such.
Last time was 15+ years ago and things may have changed by now. If not, instruct someone to be at the bank the day after, before it hits the papers.

I’ll be interested to know if this is still an real concern or not.
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Interesting info Jim. If I die early? The amount of value in the box isn't squat compared to life insurance values. Truthfully, it isn't enough to justify rental of safety deposit box. Lol. I'm optimistic in that I can add some more to the box as I advance in years.
 
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CJD3 said:
FYI- I have known of an instance where someone has passed away. Enough time passed where it became public information. Family went down to the bank to empty the safe deposit box where some form of liquid assets were kept, and the bank said an irs agent needed to be present to document in the event of “unreported “ cash an such.
Last time was 15+ years ago and things may have changed by now. If not, instruct someone to be at the bank the day after, before it hits the papers.

I’ll be interested to know if this is still an real concern or not.
Click to expand...

It's dependent on the banks policy regarding estates. The best is to put both you and another trusted person on the box as a co-leasor. In this instance, they will have access regardless of your death. The problem is they will have complete access before also.

If you are the only person on the box and you die, the bank will require a court order to release it to someone else. If you name someone in your will, that person will have to get the court to issue an order to the bank, and the bank or the court very well may require a tax agent to observe.

At some banks you can assign a deputy with stipulations. This person can access the box providing the deputy agreement is met. It's basically a power of attorney. However, a deputy agreement, as well as a power of attorney, does not have survivorship after your passing.

If it's something like a precious metal, coins, etc just burry it somewhere on your property easily locatable and leave a very detailed sealed note to whomever you want to have it upon your death. This note can be left with the same attorney who has your will. Most will charge a very small fee or no fee to store your will. Just make sure your executor knows who your attorney is.
 
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Live below your means, save and pay down debt. Have a plan and work the plan for financial freedom. It's a long haul but if you grind it out you can get there. My wife and I have worked and saved for a long time now as we approach retirement, it's a good feeling to know we should be comfortable financially. Talk to a professional, get a good picture of where you are now and where you want to be. There are a lot of layers including estate planning and tax minimization but it's worth the effort. Good Luck
 
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Paying down debt is the best thing. Myself I invest into securities with my own money. I tend to go towards large caps that pay a dividend, that way even if they drop I'm still compounding interest back into them. I have an auto transfer into a trading account and just keep adding to the portfolio. This is for long term investing so I have absolutely no plans to pull from this for decades to come. Along with this I have a 401a.
 
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Chass said:
Paying down debt is the best thing. Myself I invest into securities with my own money. I tend to go towards large caps that pay a dividend, that way even if they drop I'm still compounding interest back into them. I have an auto transfer into a trading account and just keep adding to the portfolio. This is for long term investing so I have absolutely no plans to pull from this for decades to come. Along with this I have a 401a.
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This is part of my retirement portfolio as well. Wait for a solid company to drop. Buy and hold. Stump and you are spot on. I think Jackalope is looking for a hedge though. Insurance in the form of tangible assets in times of stock decline. I'd say the happy medium would be diversifying your stock/IRA/401k/etc with some stocks in foreign exchanges. Nothing says we only have to buy American companies or purchase on the NYSE. If an American economic decline is a fear and you are only comfortable owning stocks, then mix up where you buy. Chinese A shares are on my list to buy as soon as trade war fears stop and Chinese stocks begin an uptrend again. Right now Chinese stocks are on shaky ground with Trump trade war talks. Fine by me. Let them fall lower. They will climb higher when they begin to climb again.

That said, I stay really diversified. Real estate in the form of rentals. Eventually I'll buy some land but I'm waiting for housing market to settle down. 62 Chevy II, 74 Norton Commando Roadster, bullion, some coins, stocks with a barrel attached like Colt, etc. Might do better in one thing like only stocks or only IRAs, but I like mixing up my retirement portfolio. Plus I can't drive the kids to the ice cream stand in Apple stocks but I can in 62 Chevy.
 
hickslawns said:
This is part of my retirement portfolio as well. Wait for a solid company to drop. Buy and hold. Stump and you are spot on. I think Jackalope is looking for a hedge though. Insurance in the form of tangible assets in times of stock decline. I'd say the happy medium would be diversifying your stock/IRA/401k/etc with some stocks in foreign exchanges. Nothing says we only have to buy American companies or purchase on the NYSE. If an American economic decline is a fear and you are only comfortable owning stocks, then mix up where you buy. Chinese A shares are on my list to buy as soon as trade war fears stop and Chinese stocks begin an uptrend again. Right now Chinese stocks are on shaky ground with Trump trade war talks. Fine by me. Let them fall lower. They will climb higher when they begin to climb again.

That said, I stay really diversified. Real estate in the form of rentals. Eventually I'll buy some land but I'm waiting for housing market to settle down. 62 Chevy II, 74 Norton Commando Roadster, bullion, some coins, stocks with a barrel attached like Colt, etc. Might do better in one thing like only stocks or only IRAs, but I like mixing up my retirement portfolio. Plus I can't drive the kids to the ice cream stand in Apple stocks but I can in 62 Chevy.
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The only bad thing about physical assets is that generally if you don't maintain them which at the minimum costs you time, they tend to depreciate pretty fast which also shrinks your liquidity since less people would be apt to purchase whatever it might be from you for a better alternative.
The good thing about physical assets, if it's something like restoring a car and that's something you love to do, you have yourself a business which is one of the best investments you can get if you love to do it.
I would still pick securities myself unless I planned on cashing out within the decade. Anything past a decade and even if we had a major crash, you have plenty of time to come out a head. I like my money to make money and me not have to intervene.
 
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Chass said:
The only bad thing about physical assets is that generally if you don't maintain them which at the minimum costs you time, they tend to depreciate pretty fast which also shrinks your liquidity since less people would be apt to purchase whatever it might be from you for a better alternative.
The good thing about physical assets, if it's something like restoring a car and that's something you love to do, you have yourself a business which is one of the best investments you can get if you love to do it.
I would still pick securities myself unless I planned on cashing out within the decade. Anything past a decade and even if we had a major crash, you have plenty of time to come out a head. I like my money to make money and me not have to intervene.
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Well said. It is NOT for everyone. Vehicles must be maintained, repaired, insured, etc. They are not a guaranteed profit. They simply fit into the tangible category. Some of the return on this investment vehicle (corny pun intended) is the enjoyment factor.
 
hickslawns said:
Well said. It is NOT for everyone. Vehicles must be maintained, repaired, insured, etc. They are not a guaranteed profit. They simply fit into the tangible category. Some of the return on this investment vehicle (corny pun intended) is the enjoyment factor.
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Completely agree, looking to get a project car soon myself. Not so much for the investment factor as I'm sure I'll put more into it than it will be worth but much more for the fun factor.
Kinda wondering where exactly this guy with the 60 Chevelle's is at down here 🤔
 
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"J" said:
My wife has had power of attorney for me since just before the first golf war...

Close 30 years, some people cringe when they hear this but if you can’t trust the woman you’re sticking your Willy in, who can you?
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I think POA is only good While your still breathing and can be used in the event you are unable to sign documents, banking and so on... the moment you pass away, it’s no longer empowering (in your example) your wife.
 
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hickslawns said:
This is part of my retirement portfolio as well. Wait for a solid company to drop. Buy and hold. Stump and you are spot on. I think Jackalope is looking for a hedge though. Insurance in the form of tangible assets in times of stock decline. I'd say the happy medium would be diversifying your stock/IRA/401k/etc with some stocks in foreign exchanges. Nothing says we only have to buy American companies or purchase on the NYSE. If an American economic decline is a fear and you are only comfortable owning stocks, then mix up where you buy. Chinese A shares are on my list to buy as soon as trade war fears stop and Chinese stocks begin an uptrend again. Right now Chinese stocks are on shaky ground with Trump trade war talks. Fine by me. Let them fall lower. They will climb higher when they begin to climb again.

That said, I stay really diversified. Real estate in the form of rentals. Eventually I'll buy some land but I'm waiting for housing market to settle down. 62 Chevy II, 74 Norton Commando Roadster, bullion, some coins, stocks with a barrel attached like Colt, etc. Might do better in one thing like only stocks or only IRAs, but I like mixing up my retirement portfolio. Plus I can't drive the kids to the ice cream stand in Apple stocks but I can in 62 Chevy.
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But if you'd have bought Apple early on you could just buy the ice cream stand! That said I don't have individual stocks any more. That drove me crazy, I leave it up to the pros and am a long term sorta guy. You only loose in a down turn if you sell.
 
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Stump said:
But if you'd have bought Apple early on you could just buy the ice cream stand! That said I don't have individual stocks any more. That drove me crazy, I leave it up to the pros and am a long term sorta guy. You only loose in a down turn if you sell.
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Not to derail the thread but how’d you get the title “Ass Regulator” 😂
 
CJD3 said:
I think POA is only good While your still breathing and can be used in the event you are unable to sign documents, banking and so on... the moment you pass away, it’s no longer empowering (in your example) your wife.
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Exactly, that’s how it’s set up....
 
Jackalope said:
If it's something like a precious metal, coins, etc just burry it somewhere on your property easily locatable and leave a very detailed sealed note to whomever you want to have it upon your death. This note can be left with the same attorney who has your will. Most will charge a very small fee or no fee to store your will. Just make sure your executor knows who your attorney is.
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If you see someone with a light and a metal detector in your yard tonight, just pay no mind to me. :ROFLMAO:
 
cspot said:
If you see someone with a light and a metal detector in your yard tonight, just pay no mind to me. :ROFLMAO:
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Between the 20,000 BBs, powdered aluminum, and these dudes across the road pumping out EMI you better bring a dozen guys to help you dig targets. Not to mention about a 3k detector that'll get that deep. Plus I never said it was in MY yard. Lol. Honestly. You could go on public land with a post hole digger and bury it and nobody would EVER find it.

1. Metal detecting state land is illegal.
2. Even the expensive detectors like 2k+ won't reach a target that small 2 feet down.

20180816_200457.jpg
 
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