Financial markets around the world are reeling following President Donald Trump’s latest and most severe volley of tariffs, and the U.S. stock market may be taking the worst of it.
You are supposed to, but it is only insured to 250k. That might seem like a decent amount but if you suffer inflation and a government that is inclined to decrease FDIC rather than increase, you might end up not really getting much value out of that cash.
As the other poster said, you can have multiple accounts. Betterment, for example, automatically puts money in several banks for you and is thus insured up to $2 million.
Banks are insured by the government. If they get rid of the FDIC then I don’t know, but if a bank collapses you still get your money.
You are supposed to, but it is only insured to 250k. That might seem like a decent amount but if you suffer inflation and a government that is inclined to decrease FDIC rather than increase, you might end up not really getting much value out of that cash.
250k is not a very big nest egg for retirement.
No, but you can have multiple accounts and each is insured up to the FDIC limit.
As the other poster said, you can have multiple accounts. Betterment, for example, automatically puts money in several banks for you and is thus insured up to $2 million.