Elections. Inflation. Wildfires. Earthquakes. Pandemic. International tension.
We are starting to get a lot of calls from clients asking for suggestions on what to do with their investment to make sure they weather these economic, political, and natural disasters.
We are not financial advisors. We are not safety experts, but I happened to come across a piece written by Joy Wiltermuth for MarketWatch.
She spoke to Deron McCoy, chief investment officer at Signature Estate & Investment Advisors, in Los Angeles about the necessity of combining your disaster preparedness plan with your investment plan.
McCoy’s strategy is hinged in planning ahead.
Don’t wait for calamity to strike to have something ready when it does strike.
Well over 4 million acres have burned in California since the beginning of the year, more than double the land burned in any prior year, according to the California Department of Forestry and Fire Protection.
For McCoy, that means urging clients not to get caught in a position where they become forced sellers when anything bad happens. Desperation is never a good card to play.
McCoy said, “Don’t have your living expenses in stocks. Don’t have December’s rent in Tesla.”
Make sure you have enough liquidity so that when you need to move or get repairs done, you can do so without having to cash out your retirement.
There’s insurance, of course.
California is supposed to be overdue for the “big one,” or a catastrophic earthquake of a 7.8 magnitude or higher.
We are not experts in this field and we have no idea whether that is a month away or a decade away but we do know that we need to be prepared regardless.
Unfortunately, California is not prepared for this. Luis Strohmeier, a partner and wealth adviser at Octavia Wealth Management, suggests reexamining the build of our houses for safety and making sure the insurance coverage is good.
That applies to your investments too.
You need to make sure that you will not lose the wealth you are building now because of economic disasters.
That’s where we come in.
Gold and other metals hold up their value through all disasters, natural and economic. It was, is and always will be the safest investment.
Call us and we will answer all your metal questions.