Question for the Money Doctors
Question submitted on Sep 13, 2012.
QuestionI am thinking about putting money in a Swiss bank account. Is that safe and a good idea? What are the drawbacks of doing this and what are the benefits?
Thank you for the question. However, I think this question needs to be directed to a personal advisor. There are too many unknowns to give you a relevant answer. Some things to keep in mind are:
-Why are you considering doing this (taxes, safety, etc.)?
-Are you investing US dollars, buying Swiss Francs, etc.?
-How much are you thinking about putting there?
-What is your time period?
I recommend that you contact a qualified, local advisor for advice. You can visit www.findacpapfs.org to find a personal financial planner in your area.
For additional information visit http://www.360financialliteracy.org/