Bodyguards and Panic Rooms- Is Now the Right Time?

Bodyguards and Panic Rooms- Is Now the Right Time?

Executive Protection, i.e. Bodyguards and Panic Rooms

Now may be the right time for bodyguards and panic rooms. Looking several years back, I met an interesting individual during a family office networking event. Based on the crowd in attendance, I expected him to be a successful entrepreneur, but as it turns out he was a bodyguard. It was my first opportunity meeting someone who worked in executive protection. The fact that he admitted what he did was probably not the best move on his part, but since then I have wondered how many others around me are actually working as private protection for the people I interact with.

Bodyguards

While there are definitely ultra-visible Hollywood stereotype bodyguards out there, most bodyguards working in executive protection serve as quiet sentinels and meld into the background. Depending on the needs of their client, they can operate solo or function as highly coordinated teams.  Many bodyguards are ex marines and attend industry training schools focused on protecting high net worth families. They are trained in areas such as protection driving, defensive tactics, firearms, surveillance technology and travel operations. Bodyguards can either be hired as permanent household employees or by contracting with a private security firm. While the decision of which route you use is ultimately up to you, it is worth noting that if you’re going to have someone around you a good portion of the time, make sure they’re someone you feel comfortable with and trust.

Panic Rooms

Another solution you may consider for amping up your personal protection is a panic room: a hidden safe- room in your home that you can retreat to if the need arises. The entrance to panic rooms can be concealed and lockable, and the room itself can even be constructed to be bullet proof as well as safe from smoke and gases. Having a video system to monitor what is going on outside is also important. Stock it up with plenty of essential supplies and you and your family could live in it for days, if necessary. Some of the best hidden door systems I’ve come across for panic rooms have been constructed by Creative Home engineering; some of their work can be seen in this video.

Overkill?

Your friends might think you’re taking security too far when you bring up the subject of extra protection. If you’re worried about it or think you need more security, then that might be your answer.  If you sleep better at night and you can afford it, then what’s the harm?  However, discretion is not a bad idea when considering a panic, or safety room.  Of course immediate family should know about it, but nobody else.  If you talk to friends about it, you have already, even if slightly, diminished it’s potential to protect.

Bodyguards and panic rooms are a little like doctors, lawyers, and accountants, because they beg the same question: should you get, hire or upgrade them with plenty of time before you actually have the need?  So, is now the right time to consider private protection or a panic room?  If so, you may already be late to the table, but with that being said, late is better than not at all.  All of that provided you can afford to hire or build such specialized protection.

We hope you found this article about bodyguards and panic rooms helpful.  If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page  or our website at www.GROCO.com.  Unfortunately, we no longer give advice to other tax professionals gratis.

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Considerately yours,

GROCO, GROCO Tax, GROCO Technology, GROCO Advisory Services, GROCO Consulting Services, GROCO Relationship Services, GROCO Consulting/Advisory Services, GROCO Family Office Wealth, and GROCO Family Office Services.

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