“Many of our clients at BFI are very wealthy,” writes our Swiss Mountain Guide friend and Swiss Gold Storage expert Frank Suess in his latest newsletter. “They spend much time on wealth planning; in other words, on how to protect and grow their wealth. However, they generally do not consider how to protect themselves in the current environment. While protecting your wealth, you should not forget how to protect YOU. Things might not seem so bad in everyday life. Your daily routine is not affected by the bigger changes occurring around you. Therefore, it all does not seem that threatening. They never do.”
Have you defined a contingency plan, an escape route for you and your loved ones, in case leaving your country becomes an unwelcome necessity? If not, we recommend you at least start considering this line of thought. I myself (Peter) was just talking about this very topic yesterday with one of my personal consulting clients. It is obviously a sensitive topic, something not everybody has the guts to face up to. But an important one, nonetheless.
Do you have in place an escape route like a second passport (for example an economic citizenship) or at least a legal residence in a far-off, neutral country where you and your family could ride out the storm?
Certainly having contingency plans in place could make you sleep better at night. The best laid contingency plans are the ones you hope you never have to use!
This is a theme we will be developing more early in 2010 here at the Q Wealth Report, as well as at our forthcoming Q Wealth ‘Strategies for Success’ event in Cancun, Mexico in March. If you are interested in joining us, please contact Frederick in our office for details.
More offshore protection news soon…