Preserving wealth in tough times can certainly be a challenge. This is especially true for those of us that live in so-called "developed" nations. We're subjected to constant government scrutiny of our spending patterns, saving patterns, and financial choices.

Much of it is done in the name of preventing fraud of one kind or another. Tax fraud is used to pressure banks into reveal customer account information, and to scare other countries away from accepting foreign direct investments. Identity fraud is used to justify round the clock monitoring of purchases and funds transfers.

Yet every time it seems as though this fraud prevention turns into a way for an outside party to get their hands on our wealth. Governments tax interest income on savings accounts, banks charge service fees, and credit agencies bill for watching it all happen. It can make protecting and preserving wealth an uphill battle for those determined to take a conventional approach.

For those of us who are willing to think a little more unconventionally, however, there are a growing number of options. These aren't shady pyramid schemes or suspect tax shelters. These are perfectly legal and perfectly legitimate ways to protect our assets from greedy fingers.

A cornerstone of many of these options is the need to have an international mindset. When we only focus on the little bubble around us, we're trapped in that circle. Getting outside is a whole new world with a plethora of options for residency, tax breaks, and lowered costs of living.

Preserving wealth in tough times can be as simple as moving some of it offshore and into another currency. It's basic diversification of a style that many investors overlook. We get to thinking that we're clever because we have money in different places, but if it's all denominated in the same currency we actually haven't changed our risk profiles.

Instead, we need to realize that in tight times, we can't always trust the home team. The governments of many first world nations are falling short of ready money, and they have their eyes firmly trained on our pocketbooks as a source of cash. They can easily destroy our nest eggs by devaluing the currency and raising the tax rates as they attempt to balance their budgets and raise tax receipts.

Thus, the key to preserving wealth lies in planning for the worst, expect a cash grab, and moving assets into another currency in a protected investment zone in advance. It's easily done, and international basket CDs are even available online. There's no reason not to get out there and take the first steps to saving our own assets before it's too late.

About the Author:

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