This week in MoneyWeek: how to get a second passport
In MoneyWeek magazine this week: why getting a second passport is probably a good idea (and how to go about it); how to invest in gold; and how to hedge against market shocks.
In MoneyWeek magazine this week: why getting a second passport is probably a good idea (and how to go about it); how to invest in gold; and how to hedge against market shocks.
Plus: the battle for the future of bitcoin; do you need life insurance; and is Putin really a threat to the West? All that and much, much more could be yours if you sign up now. You'll get the magazine delivered to you door, full access to the MoneyWeek website and the smartphone and tablet app. Why not give it a go now?
Diversify your nationality
When the result of the EU referendum was announced last year, the Republic of Ireland was flooded with passport applications from every traumatised Briton with even a tenuous ancestral connection, desperate to hang on to their EU citizenship. While the sudden rush may have been an overreaction we've still got a couple of years before we're cast adrift, after all "getting a second passport for an EU country before late 2019 could make sense" says Merryn Somerset Webb. Those of us who don't have an Irish granny may think we're scuppered. But for those with money, the world is your oyster.
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So, how exactly would you go about it? There are a few options. Cyprus and Malta are the cheapest and easiest countries to head to, though you will need at least half a million euros up front. And if you fancy settling down farther afield, there are plenty of attractive destinations in Central America, the Caribbean and Asia. Merryn lists them all, and outlines the procedures you'll need to follow. Sound interesting? Read more with a subscription to MoneyWeek magazine.
Why it still pays to buy gold
Gold is nothing like as cheap as it used to be. When we started banging on about it, it was under $300 an ounce (or about £200). Now, it's around $1,200 (or about £985). But it's still worth having some of the shiny stuff tucked away in your portfolio somewhere. It comes in several different flavours, however. There's bullion coins and bars that you can hold avariciously in your hand or perhaps you'd like it locked away in a vault somewhere in an "allocated account". Another way is to invest via exchange-traded funds. Chris Carter explains the pros and cons of all the ways to get your hands on gold, and how to go about doing it. Find out what he says by signing up to MoneyWeek magazine.
How to hedge against market shocks
There's a lot of worry about at the moment that we're approaching a top in the equity markets. And there's no doubt that some Western markets the US especially are looking overpriced. David C Stevenson is "fully invested in equities at the moment", but nevertheless, he's concerned that things are looking " a bit too frothy", with little protection against "nasty surprises". And while current volatility could just be a "breather" before more bullishness, it makes sense to hedge your portfolio a little. David explains a few strategies you could employ to help you sleep more soundly. Find out what there are with a subscription to the magazine.
There's an awful lot more than that, of course. John Stepek looks at why so few new firms are listing on the stockmarket; I look at the heated argument raging among bitcoin aficionados and how it could lead to two competing cryptocurrencies; and Sarah Moore explains how to snap up a property bargain at auction.
Plus, there are the best share tips from the rest of the UK press and from professional investors; pages on personal finance, property and pensions; plus trading tips and all the markets and economics news form the past week.
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Ben studied modern languages at London University's Queen Mary College. After dabbling unhappily in local government finance for a while, he went to work for The Scotsman newspaper in Edinburgh. The launch of the paper's website, scotsman.com, in the early years of the dotcom craze, saw Ben move online to manage the Business and Motors channels before becoming deputy editor with responsibility for all aspects of online production for The Scotsman, Scotland on Sunday and the Edinburgh Evening News websites, along with the papers' Edinburgh Festivals website.
Ben joined MoneyWeek as website editor in 2008, just as the Great Financial Crisis was brewing. He has written extensively for the website and magazine, with a particular emphasis on alternative finance and fintech, including blockchain and bitcoin.
As an early adopter of bitcoin, Ben bought when the price was under $200, but went on to spend it all on foolish fripperies.
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