This nagging question regularly emerges again and again for thousands years. Unfortunately, this is a hot issue even nowadays. The reason may be military or social conflicts, economic blockages, nature disasters, epidemics, expropriation, failing economic systems or other extraordinary situations. If you want to protect your assets effectively, you should follow several rules.
The most important aspect is to be able to recognise the potential risk in good time, thus have enough time to find solutions. You need to define all potential threats - and you need to search for the ways to solve them. What if bank accounts are closed and drawing from the accounts made impossible? What if securities are extensively devaluated? What if your bank gets in trouble and want you to repay the mortgage or loan?
Think of protection of your assets as if it was an investment, whose management is connected with some expenses. You pay for financial consulting or bank account anyway, and it is the same with management and protection of your assets as well.
Keep a well-balanced and resistant portfolio. Professional organizations use project portfolio management, individuals can work, for instance, with mind maps in order to identify and process a wide range of opportunities. Get together all options you may encounter, and critically analyse them each and all, eliminating one by one.
Do not forget to establish adequate liquidity. A part of you assets should be liquid very well. Thus, if - all of the sudden - you need cash, you may avoid huge loss from being forced to sell assets under financial pressure. If you can keep a part of your assets in your personal deposit box, for instance, it means distribution of risk. Think of the people queuing in front of the banks.
The today's world is much more interconnected and dependant than before. Nevertheless, spreading your assets around the worlds is worth doing. Do not bet everything on a single country, a single politic - economic block. There is a permanent danger of state bankruptcy, limited bank services or government interventions making free capital circulation impossible. Consider the fact that the European Union is an example of a block, with high probability of coordinated interventions by tens of governments simultaneously.
A part of your assets should be allocated in safe products permanently. Political elites tend to make unexpected decisions in effort to catch the public unable to react. If you are caught unprepared, the loss may even grow. It is good to maintain multiple ways to protect your business capital and private savings.
Keep yourself informed. Follow the developments in politics and economy in destinations of interest. If necessary, modify or change your strategies, always search for new opportunities, participate in topic-specific anonymous discussions and draw inspiration from them.
One of the ways to protect your assets from the crisis is another point of view. Try and look at the current events as if they were possible new opportunities. New demands are emerging, rules of the game are changing, thus creating new space for your activities.
Well-prepared insurance policies may become an important segment of your portfolio. Your partner should be a large insurance company, with a number of clients. Then you may assume that in case of trouble, the issue will become a political issue. In this case, legal obligations and liability, at least its part, will be passed onto the government, although the compensation may delay.
Invest in people, in the people you know, in your employees and in your customers. Keep abreast of latest developments and enter in new contacts. Just imagine the old times, when people used to be more dependent on each other than nowadays. At that time, it was not possible to buy absolutely anything or travel anywhere you want. Commodities were not transported over a half of the planet and people used to live on local production and counter trade. Be a part of the community. Even the worst disasters can be addressed but you need to collaborate with many other people. Do not get isolated!
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