Some of you missed the point...I want something that will not be on the bike...If I leave the bike I want my wallet and pocket stuff on me, not in the bike cases or my pockets. I have seen the results of someone taking a spill with keys in their pockets.....
The leg drop pouch is the trick....now just to find one that I like and feel secure about.
When I ride, especially on a trip I keep it simple. I use a front pocket wallet that only contains the items I may need on the trip. Example, cash, one or two credit cards, insurance (medical and bike) cards, and so on. I leave all the other stuff at home. In my state we do not need to carry the registration, so that is not an issue. All the other stuff I carry in a Giva tail trunk.
Now for my cell phone, it all depends. If I am wearing a shirt where I can securely put it in a pocket, then I put it there, if not, then it goes in the trunk. As for a weapon, mine is usually in the trunk. I rarely carry it on my person when I am riding. I know all the arguments, but that is just what I do.
I do not like putting a weapon or wallet in a jacket pocket. Too many times I have left the jacket on the bike while I went to the restroom and such forgetting that it was there.
Everyone has their own ways, but this is how I do it, and it has worked for me for the last 40 years, so I think I will stay with it for a while longer.