In the past, I wrote quite a bit about network area storage (NAS) and disaster recovery. Then I changed my mind to prefer third-party backup services. Well, technology moves fast and there are now companies producing fireproof and waterproof NAS hardware.
Third-party backup services can be expensive, and I find many advisers tend to take the risk with some form of disaster recovery, but that’s really not very efficient or effective. This new hardware may be the solution. There are two companies I found that make it: ioSafe and SentrySafe. Both have demos on their sites showing the unit on fire—pretty cool to watch.
Although I have not had the opportunity to actually test or use these devices, from what I read they work just like any other NAS. The Sentrysafe system actually uses a Maxtor (now Seagate) hard drive. The one thing I do like about ioSafe is that they are focused on the hardware market. SentrySafe is more of a safe company (think fireproof safes and filing cabinets). And ioSafe is set up for support, data recovery services, etc.
As I have said in the past, you can have two NAS devices work together for remote backup. A 1TB unit will cost under $300 on Amazon.com. If you get two working together, this is a very effective and inexpensive solution for your disaster recovery needs.
Ash Bhatnagar, CFP®
RIA Independence Co.