There are several reasons for a hardline attitude when it comes to personal loans.  For one thing, just because you have better-than-adequate funds at your disposal doesn’t mean you can afford to flush them down the drain on bad investments (which personal loans could definitely become).  After all, you didn’t get where you are by making bad financial decisions.  And if you continue to lend without first getting repayment on earlier loans, you’re basically letting people walk all over you.  That’s not a good feeling for you, and believe it or not your family and friends will grow to resent you for it.  So if you’re going to make personal loans to your loved ones, you must do so with the expectation of repayment.

This is not to say that you have to sue your family and friends should they fail to repay a loan (although you definitely shouldn’t lend to them again).  But you should take steps to make your intentions known, including a written agreement.  This could be as simple as an IOU or as complex as a legal contract, but between friends you should probably go with a basic document that includes the amount of the loan, the interest rate, and a schedule for repayment, as well as your signature, the signature of the borrower, and perhaps a notary public to act as a witness.  This document will hold up in court (should you find it necessary) and it will protect you from having to pay any gift tax (should the IRS require proof that the money was a loan rather than a gift).  Further, such an agreement will likely deter anyone who has it in mind to take the money and run.

You aren’t an ATM, so don’t let your family and friends treat you like one just because you have money.  You also aren’t a bank or a company that offers payday loans; if you were, you’d offer much less favorable terms.  Remind your family and friends of this when they come to you for money, and let them know that while you’re happy to do them a favor, you do expect them to live up to their end of the arrangement.  But if you feel uncomfortable about the situation or you’ve simply been burned too many times, simply say no.  Your family and friends might be mad, but they’ll come around eventually.

1. Loss of investment.  A big part of security for the wealthy is ensuring that their coffers remain intact and that the inheritance they leave their children continues to grow long after they’re gone.  This means protecting not only capital, but investments, as well.  So in an economic climate like a recession, for example, the rich amongst us are finding ways to preserve their wealth (probably with safer investments).
2. Identity theft/hackers.  While identity theft is a minor annoyance for most people (who may have to pay a small fee in order to recover funds from their bank or credit card company, and then wait for a replacement card), it can be a real nightmare if a wealthy person’s bank accounts are hacked, simply because only so much money can be federally insured.
3. Kidnapping.  Plenty of high-profile people have been kidnapped for ransom simply because their families are known to have wealth.  Just look at the 1932 kidnapping of Charles Lindbergh, Jr., the “Lindbergh Baby” (in which a ransom of $50,000 was demanded by note), the 1975 abduction of Patricia Hearst (whose captors had a political agenda and demanded that her wealthy parents distribute free food to the tune of $6 million), or the 1973 kidnapping of John Paul Getty III (whose grandfather was the richest man in the world at the time, and was asked to pay $3 million in ransom).  The wealthy must be ever vigilant about watching their vulnerable children, it seems.
4. Mugging.  When you walk around in haute couture clothing, wear a Rolex, and drive a Ferrari, you might start to get a bit worried about highway robbery, as well.  For this reason, many wealthy people forego these hallmarks of high-end living in favor of more modest apparel and transportation, especially while vacationing in foreign countries.
5. Home invasion.  Despite the fact that cyber criminals run rampant, attacking high-profile persons and businesses alike, the security concerns that most rich people harbor are of the garden variety (i.e. home break-ins).  Luckily, there are all kinds of protections to be had, including gated communities, ADT, Brinks, or Vivint security systems, surveillance cameras, and even bodyguards, and the wealthy can afford them all.  The rich of the world may have different worries than the rest of us, but they can certainly pay to assuage them.

1. Roll over accounts.  If you’re nearing the age of retirement and you’re worried about losing the money you’ve carefully invested in your retirement accounts over the years, then there’s no reason you shouldn’t protect your funds by rolling them over into low-risk options like bonds (since you should be able to do so without incurring any penalties).  You’ve basically accumulated all that you’re going to, and if it is enough to live out your retirement, a low interest rate may sound a lot more appealing than the possibility of future losses.
2. Consider stocks.  Most people think that this is a terrible time to invest in the market, but that’s not really true.  If you already have stocks and you’re losing money on them, you may want to sell in order to cut your losses.  But if you’re just getting into investing and you think you’re better off playing it safe, you may want to think again.  Many reliable companies are suffering from low stock prices right now, but that only means that they stand to rebound over time.  So some solid advice from your broker could help you to choose the stocks that are going to show a significant return in a few years.
3. Look into global investments.  Diversity is the name of the game when it comes to making safe investments and protecting your capital.  Although some growing countries (like China) are enjoying premium rates at the moment, which may prompt you to steer clear of investing there, overall the global economy may be a safer bet than the national one.
4. Ask for proof.  Most brokers will send you regular reports regarding your investment portfolio, but if they give you the runaround or send you only company printouts (like Madoff is rumored to have done), you can bet that something isn’t right.  A broker on the up and up will have stocks registered with the SEC (Securities and Exchange Commission), along with paperwork to that effect.  And he should be willing, at any time, to provide you with proper documentation regarding your investments and your account statements.  And if it seems too good to be true (low risk, high reward) it probably is.
5. Insure your property.  Not all investments are on paper.  You can also consider assets, properties in particular, to be investments since they stand to appreciate over time and show a significant return.  But in order for housing to pay off, you need to keep it safe.  That means getting it insured, performing proper maintenance, and potentially even doing upgrades to increase value.

Emma Martin is a contributing writer for Hologuard, where you can find security labels and adhesives that protect against theft.

In terms of investment value, gold should be considered in the same way as any other stock, which is to say speculatively.  At the moment, the price of gold on the investment market is quite high, which means it definitely isn’t a good time to buy.  In fact, many people who have invested in gold are currently trying to sell.  Like any other commodity, the value of gold will go up and down.  Remember a couple of years ago when the price of gold crashed?  It had been at all-time high and then the bottom dropped out.  But it came back up slowly over time, so that it is once again terribly high.  It goes in cycles that are not exactly predictable, but you can bet that if you hold onto gold investments long enough, they’ll eventually go down and then come back up again.

So at the moment, you probably don’t want to buy, but considering the supply-demand equation, more people selling than buying means that the price should begin to come down in the near future.  Another factor to consider is the value of the dollar, which is really what determines the value of gold.  It is relative to currency.  If you’re confused, consider that gold is what backs paper currency for most countries.  Since nobody really wants to carry around gold as a means of currency (it would get quite heavy), we use paper money that is guaranteed to have a value in gold.  If you’ve heard of Fort Knox, then you probably realize that there are places in the country where gold is stored.

Now, money continues to be printed, but the amount of gold in our coffers stays roughly the same, year upon year.  What this means is that the value of a dollar goes down, so that more dollars are needed to equal the same value in gold.  So the further the value of a dollar drops, the more gold becomes worth (although there are also times when the government takes money out of circulation to increase the value of the dollar).  So it’s not just about supply and demand of gold bonds on the stock market, it’s about the number of dollars you would theoretically have to spend to get a certain amount of gold.

The long and short of it is that you don’t want to start buying up gold coins online or purchasing gold stocks for your investment portfolio at the moment.  Wait until the price drops significantly before buying.  If, on the other hand, you have gold or gold bonds to sell, now might be an ideal time to do so – if you can find a buyer.

1. Form a budget.  Overcoming any financial trouble starts with forming a budget.  This means checking your income against your expenses in order to see where you’re going astray.  Creating a budget that allows you to live within your means will help you to get spending in check, pay down debt, and curb the financial arguments that have plagued your marriage (as long as you both stick with it).
2. Consolidate debt.  When people get into financial trouble, they often find themselves in debt with various creditors, from lending agents (like banks) to credit card companies.  By shredding credit cards and consolidating debt to one low-interest loan, you have the opportunity to lower your monthly payments and reduce your overall debt, which will allow you to pay your debt down more quickly (especially if you’re not adding to it).
3. Consider banking options.  Problems can arise when two people with very different spending habits throw all their earnings into one pot (a joint banking account).  Even though both parties may have done well enough on their own, blending money can lead to issues when one hand doesn’t know what the other is doing.  Although online banking has made it easier than ever to check your balance in order to avoid overspending, one partner might know the money in the account is for an automatic withdrawal while the other thinks it’s okay to go on a shopping spree at Bloomingdale’s.  You may be better off keeping separate bank accounts and splitting the bills, with each party responsible for what they can handle with their earnings.  Every independent adult needs to feel like they have control over their own money and this may be the only way to get it and to keep both partiesaccountable.
4. Meet with a financial planner.  If you’ve tried to fix your finances on your own with little success, perhaps it’s time to consult a professional.  A financial planner can not only set you up with a budget and help you to manage your debt; he can also give you the tips you need to go it alone in the future.
5. Marriage counseling.  Serious arguments about your finances may seem fairly self-explanatory on the surface, but it could be that there’s something more going on.  So in addition to getting some help with financial planning, you may want to see a marriage counselor.  This way you can deal with both your financial issues and any other problems (communication, for example) that could be exacerbating the situation.