• jjjalljs@ttrpg.network
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    19 hours ago

    So if the stocks fall enough you won’t have your money anyways.

    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.

    • jerakor@startrek.website
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      18 hours ago

      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.

      • jjjalljs@ttrpg.network
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        16 hours ago

        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.

      • tomkatt@lemmy.world
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        17 hours ago

        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.