Secret Compartment

I’ve often wondered why do old folks like to stosh their gold, valuables, etc in a safe deposit box. Rental of SDB can range anything between $100+ to $600, depending on the size of the box and location. It is so expensive.


Do people actually evaluate if it is worthwhile to keep their valuables in SDB. For example, if the items kept are worth $10,000 and the storage cost is $300, this could easily means that you are paying 3% just to safe-keep the items. In similar token, if the items are only worth $5,000, this person would be paying 6%. That’s quite a hefty sum. If you lose your keys or forgot to maintain sufficient amount for giro deduction, there could be penalties as well.

My suggestion is, if you have intention to do up any renovation/carpentry work at home, to consider creating “secret compartment” at home, where you can keep your valuables - a place where only your spouse and yourself knows the exact location, and better still, have it under lock and keys. And it can be anywhere at home, for instance, a well camouflaged corner of a cupboard. The key is, it must be well camouflaged. So let your imagination fly. Afterall, a penny saved is a penny earned.