Just so you know – I’m not talking about a scammer here, i’m talking about an actual worm. I like reading about money and finances and sometimes while I am reading I happen across some unusual articles like this one. The article talks about a man who didn’t trust the banks and so he stored his money in a bag and buried it underground.
Burying your money seems safe enough I guess, I mean the ground charges you a lot less fees than a bank will, but it does come with risks. In this instance the risk is in the form of worms that made their way into the mans life savings and ate it. I really feel for this guy and I guess it’s a good reminder that there really is no good safe place to store your money and set and forget it.
- Banks can go bankrupt and charge a lot of fees
- Investments can lost money
- Bitcoins can be accidentally dumped
- Money under the mattress or in a safe can be stolen
- Money in the ground can be eaten
I personally think that diversifying your wealth into different types of assets or storage locations is going to be your best bet not to lose it all. At the end of the day it’s your money and it’s your choice what you do with it (with the exception of superannuation) so make sure you stay on top of your finances, and remember that no one is as interested in the welfare of your finances as you are.