A shoe having the unique feature of a concealed compartment within the shoe to enable valuables to be concealed in a safe and secure manner so that they are concealed while at the same time not interfering with the wearability of the shoe. The concealed compartment is either formed within a two-piece inner sole so that the compartment is formed within the lower portion of the inner sole and the upper portion of the inner sole is removably attached to the lower portion of the inner sole through fastener means so that when the fastener means are closed, the compartment is concealed and when the fastener means are opened, the upper portion of the inner sole can be moved away from the lower portion of the inner sole to expose the compartment. Alternatively, the compartment is formed into a separate compartment layer which is positioned above the outer sole and below the inner sole.