Most Americans are investors. They enjoy putting money into all sorts of physical assets. For example, about $730 billion is being invested in art and culture alone. That’s about 4% of the overall GDP of the country.
Investing in physical assets such as art, machinery, or jewelry can secure your finances for the future. However, it can be problematic if you don’t know how to store them. But with enough creativity, you can find various ways to keep your asset and ensure that they don’t depreciate over time.
Storage units are the most common way to store physical assets. It’s a safe and reliable way to keep your things away from the elements. Storage units also come in different sizes, so you can choose one that fits your needs. They are your cheapest option, but they also come with some downsides.
The first disadvantage of a storage unit is that they aren’t as secure. If you purchase one in a bad neighborhood, your assets are at risk of being stolen. Also, if you live in an area with extreme weather conditions, floods or storms could damage your storage unit. Storage units might not also be ideal for storing things like gold or jewelry because of frequent break-ins.
However, storage units are great for big and bulky assets such as furniture and machinery. You can also purchase insurance for your storage unit, which will give you peace of mind knowing that your assets are protected.
If you want a storage unit nearer your home, you should consider investing in a cargo trailer. Much like a storage unit, a pull cargo trailer can last forever. It might even be better against storms and handling depreciation.
The best part about investing in a trailer is that it’s customizable. You can add security features such as an alarm system, cameras, and locks. You can also add a climate control feature to ensure that your assets are stored in the best possible condition.
You can also place it on any property you own, making it easy to keep it near you. It’s a smart way to store your assets, and you can even use it for recreational activities!
Safe Deposit Box
A safe deposit box is a great way to store small valuables such as jewelry, important documents, and family heirlooms. They are usually located in banks or credit unions.
The main advantage of a safe deposit box is that it’s highly secure. Your valuables will be stored in a vault, and you’ll have your key to access it. In addition, only you can access your safe deposit box, making it one of the most secure storage options.
However, there are some downsides to using a safe deposit box. For example, if you need to access your valuables in an emergency, it might take some time to get to them. Also, banks might charge you a fee for renting a safe deposit box.
If you want quick and easy access to your valuables, you should consider storing them in a safe home. Home safes come in all shapes and sizes, so you can choose one that fits your needs.
The main advantage of a home safe is that it’s always accessible. You don’t have to go to a bank or storage unit to get your things. They are also usually more affordable than other storage options.
However, home safes aren’t as secure as other options on this list. If someone breaks into your home, they can easily access your safe, despite how well protected it is. It’s essential to choose a high-quality safe and ensure it’s properly installed, but those are relatively expensive.
If you’re desperate and want to store your assets in a highly secure location, you should consider buried containers. Buried containers are great for storing valuables such as gold, jewelry, and essential documents.
The main advantage of a buried container is that it’s highly secure. If you bury it deep enough, it will be virtually impossible for someone to find and steal your valuables.
However, there are many disadvantages to using a buried container. For example, if you lose the location of your buried container, you might never be able to find it again. Also, if the ground around your buried container shifts, it could be exposed, and your valuables could be at risk. People who might purchase the land also are legally allowed to own whatever’s buried underneath. So technically, you must buy the land where you bury the container to avoid this problem.
Investing in physical assets is a great way to secure your future. However, you need to choose the right storage option to ensure that your assets are safe and sound. These five options will ensure that your assets are well-protected. However, ensure that you manage the disadvantage of each option to keep your assets as safe as possible.