There are several investments suitable for long term tax and estate planning, but investing in art, fine wine and other collectables has the added benefit of there being something tangible that you can enjoy. The comfort and security of knowing that your money is backed by an appreciating asset that can be used to preserve wealth is something that all investors aspire for.
At Morrinson Wealth, although we can’t directly help you invest in these commodities, we appreciate that these kinds of investments form part of a truly diversified portfolio. It is always important to do your own research on any investment, but especially within the arts and collectables market. Due to the expertise required in evaluating these kinds of investment vehicles, you should always be aware of paying more than you need to or falling victim to some kind of scam.
Throughout our years of helping individuals make the most of their assets, we have been both amused and horrified at some of the most lavish and audacious scams, heists and tricks that have taken place. The upper echelons of the investing world is a tight-knit circle that relies on tradition, reputation and expertise. But sometimes, even they can get it wrong! Let’s look at some of the most memorable.
The skill of wine tasting is something that is developed over many decades, and within the circles of those who “know wine” there are rarely new members. That didn’t dissuade Rudy Kurniawan from attempting…