Post #39725 by albaby1 on the US Policy board

Halls of Shrewd'm / US Policy

Unthreaded | Threaded | Whole Thread (11)

Post New | Post Reply | Report Post | Recommend It!

No. of Recommendations: 5

Ms. Wolf and I keep our 3-5 year of emergency funds in banks EXACTLY because of the FDIC. We’re actually thinking of withdrawing the bulk of the funds because of the morons currently in charge.

Is that necessary? While the FDIC's staffing cuts definitely increase the possibility of any given bank possibly failing, the $250K of government-backed insurance is far less dependable on the amount or quality of staffing. Whatever your 3-5 year emergency fund amount is, you should be able to place it in a manageable enough number of separate FDIC-insured banks, keeping your deposits below the insurable limit and diversifying a bit against the irritation of a possible bank failure.

Post New | Post Reply | Report Post | Recommend It!

Print the post

Unthreaded | Threaded | Whole Thread (11)

Prev | Next

Announcements

US Policy FAQ

Contact Shrewd'm
Contact the developer of these message boards.

A community forum supporting civilized, and highly helpful, self-educating investors that come together for Shrewdness and merry spirits. These message boards closely follow the look and feel of the old message boards at boards.fool.com prior to the boards redirected to discussion.fool.com. Shrewd'm is not affiliated with the comprehensive and excellent investment website, The Motley Fool (TMF), in any way. The Shrewd commmunity here has owed, and continues to owe, gratitude to The Motley Fool for nurturing a culture of jovial irreverence towards Wall St, and that tradition will continue here.