People can be so complacent about the security of their physical investments. They barely realize that the simplest way to protect their them is through proper storage. As a result, many physical investments have been lost due to their owners’ negligence.
Perhaps, you’ve witnessed someone falling victim to such blunders, but you want to invest and are afraid the same thing might happen to you, too. There are several reasons you should consider investing in physical investments, especially if they’re highly lucrative. After all, if you have a safe place for your valuables, what more could you ask for?
Read on to learn how to safely store your investment.
What Are Physical Investments?
Physical investments have a physical form, are tangible, and can be exchanged for goods and services. These investments are usually considered a haven for your money because they’re not easily accessible by anyone unless you give them access. The most common forms of physical investments include real estate properties, buildings, jewelry and gemstones, sculptures, antiques, and other collectibles.
Threats To Physical Investments
Physical investments aren’t immune to threats. These include:
Physical investments are susceptible to theft. If you own a real estate property, someone may break into your house and steal your valuables. Jewelry and other types of jewelry can also be stolen or misplaced if not properly stored.
- Natural Disasters
Natural disasters can also threaten your physical investments. Severe weather conditions and other natural phenomena can cause damage to your properties, which may result in the loss of some or all of their value. For example, suppose a hurricane destroys your house. As a result, you may be able to sell it for less money than you originally intended, a case referred to as under-investing.
- Expiry Of Certain Items
Some types of physical investments are only helpful for a limited period. For example, a car will eventually become outdated and depreciate. It may also be challenging to sell an outdated model at its original value because buyers prefer newer models with more features.
Taking heed of such risks will help you make the right investments and store them in the best possible way.
How To Keep Your Physical Investments Safe And Secure
There are many ways to safeguard your physical investments from harm, including:
- Hiring A Security Guard
When you’re investing in a physical asset, it can be challenging to keep it safe from theft. Thieves can steal your property in many different ways: They can break into your house and steal all your valuables; they may also break into a storage unit or vault and take everything inside.
One way to prevent theft is by hiring a security guard. They’ll patrol your property or the area where you’ve stored your valuables and ensure that no one gets access to them without permission.
- Installing Security Cameras And Alarms
Another way to prevent theft is by installing security cameras and alarms. A security camera can be installed outside or inside your property, depending on how much privacy you want to have. If you’re storing valuables that need to be protected, installing a camera is a good idea to see who’s been inside at any given time.
- Using Locks And Bars
Another way to prevent theft is by using locks and bars. You can install locks on your storage unit door so only you have the key, or you can get a padlock for each bin inside your unit. If you’re storing items that are sensitive to extreme temperatures, it’s a good idea to use an insulated unit so that they won’t be damaged during colder or hotter months.
- Getting An Insurance Policy
An insurance policy is one effective way to secure your physical investments. When you have one covering theft or damaged assets, you’ll know that if anything happens to your items, you can get reimbursed. Some insurance policies even cover more than just theft, such as natural disasters.
- Using A Safe Deposit Box
A safe deposit box is another way to protect your valuables. These small, lockable boxes are usually found in banks, post offices, and other similar institutions. You can use these boxes to store jewelry or even important documents, like birth certificates, passports, and Social Security cards. These are especially useful for people who often travel and don’t want to worry about their belongings while away.
Adopting any of these methods allows you to sleep soundly at night, knowing that your most prized possessions are out of harm’s way.
Physical investments can be a great fallback in case of emergency. You can easily find buyers for them during the hard times and provide a source of income if you require cash. However, they come with safety and security risks. But, with proper safekeeping strategies, like the ones listed above, you can be sure that no thieves or criminals can gain access to your valuables.