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6 Global Diversification Strategies To Secure Your Future

11 Jun
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6 Global Diversification Strategies To Secure Your Future

The World Has Gone Completely Sideways—Here's What You Need To Do Now

With all the doom and gloom coming from the media, you might be feeling intimidated or even overwhelmed. For sure, we all have good reasons right now to be confused about which way to turn from here.

What do you do when the whole world goes sideways?

You take a step back and remind yourself what’s within your control… and what’s not.

You and I can’t control global response to the global pandemic. We can’t affect travel restrictions or quarantine requirements. We can’t calm the civil unrest we’re watching play out in U.S. cities. We can’t say when the U.S. stock market bubble will bust (though I’d say that’s surely going to happen). We can’t influence the value of the U.S. dollar (though right now we can take advantage of its super-sized buying power in key markets worldwide).

And so on.

What we can do is stay our course.

If you’ve been reading these dispatches for any time, you know my mantra:

Don’t hang all your hopes on any one country… any one economy… or any one currency. If you do, you’re putting your future at risk, making your life and your financial situation unnecessarily vulnerable.

What do you do instead?

You diversify.

Now, maybe you’ve already taken some steps toward spreading your wealth across different asset classes within the United States. Maybe you hold some stocks… a little gold or silver… an investment property… or you keep a stash of cash at the ready in case of emergency.

Those are the things that most U.S. financial advisors recommend you do to keep a “diversified portfolio.”

And that strategy may have done the trick a century ago. Pulling out of the stock markets and investing in railroads, oil, precious metals, and Hollywood studios is how America’s wealthiest families sailed through the Great Depression.

But that level of diversification doesn’t cut it today.

Frankly, if everything you own is tied to the United States and the U.S. dollar, you’re putting yourself and your family’s future at risk.

To fully protect yourself and your loved ones in the long term, you need to take your assets offshore. At least some of them.

Diversifying at an international level means that, come what may, you’ll never have to give up the quality of life you’ve come to enjoy.

Not only that but you could substantially increase your wealth over the next decade and beyond… and leave behind a tidy legacy for your loved ones.

Whether you’re just getting started at this… or you’ve been working to diversify your portfolio and your life for some time… current global events demand that we regroup.

How do you go about diversifying not only your investment capital but also your lifestyle so that you’re truly in control of your future no matter what happens next?

Let’s break this down…

Diversification Strategy #1: Open A Foreign Bank Account

Opening a bank account overseas can be the quickest going-offshore box to check. Some offshore banks and banking destinations will still open a bank account long-distance, meaning you don’t have to make a trip to meet with the bank in person.

An offshore account not only allows you to get some of your money out of your home country’s banking system, but it also can allow you to hold multiple currencies, meaning additional diversification without any additional effort.

Diversification Strategy #2: Protect Yourself With A Backup Residency

If you were to adopt just one of these six strategies right now, it should be this one.

Get yourself a backup residency… and get it as soon as possible. This is important even if you intend to continue living in the United States.

The COVID-19 pandemic has shown that diversification is critical not only for your investment portfolio, but also for your personal safety. Having legal residency in another country allows you to stay there indefinitely should you decide life is too uncomfortable or unsafe where you’re currently living… whether because of a global pandemic, country-wide protests, or something even worse.

Because we believe the idea of a backup residency is so important right now, we’re making my just-updated and expanded “Passport To Freedom: The World’s Top Havens For Residency, Citizenship, And A Second Passport” program available for a special reduced price. Today is the final day for this discount.

You can read more about it here.

Diversification Strategy #3: Consider Second Citizenship

Faced with a lockdown in the future, where would you hang out? Having a second citizenship gives you more options.

Legal residency allows you to stay in a country. Citizenship does that, as well, giving you additional rights including the ability to work if you so choose.

Having a second passport can also make travel in general easier and safer at times.

Diversification Strategy #4: Protect Your Assets

Moving at least some of your wealth offshore is wise no matter where you live. Diversifying your investments across multiple currencies and economies protects your wealth long-term and reduces the overall volatility of your portfolio.

It also can help protect you from frivolous law suits if you structure the ownership of assets carefully.

This isn’t about hiding your income or assets from the IRS. It’s about keeping others from trying to take away what’s yours.

Diversification Strategy #5: Move Your Business Offshore

Depending on your situation, taking your existing business offshore or starting a new business in another country could provide huge legal and tax advantages. Incorporating offshore won’t make sense for everyone, but, if you’re operating your own business, for example, or working in a high-risk profession, you should consider an offshore corporation.

Diversification Strategy #6: Grow Your Wealth Away From The Stock Market

You know my preference. Give me real estate over stocks any and every day of the week.

Holding tangible property in other countries is what makes it possible for me to sleep at night, no matter what new or impending disasters the media is reporting.

In addition, property in a foreign jurisdiction is safe from any U.S. court, meaning safe from any potential U.S. litigant.

The best part, though, and the bottom line is that key overseas property markets right now offer the potential for turn-key double-digit returns.

If you’re interested in learning more on this diversification strategy in particular, make sure you’re reading my free weekly Overseas Property Alert.

I’ve never been a doom-and-gloomer, but I do believe in being prepared. And, it turns out, the decades I’ve spent preparing for potential global crisis are proving time well spent.

My message today is that it’s not too late for you.

It is not too late for you to take control of your life.

Lief Simon