Friday, August 19, 2011 - 1:51 PM

9 Tips For Safeguarding Your Accounts

Wisely managing your investments includes taking advantage of all possible protections. While you may already be aware of the Federal Deposit Insurance Corporation (FDIC) insurance for your bank-deposited funds, there are other ways to divide up your funds, lower your potential risk of loss and guarantee your money’s safety. Read on for some ways to keep your money safe that you may want to consider in a bear market.

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WhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,577

1. Friday, August 19, 2011 - 5:24 PM

Seems like the main focus of this article was on ways to insure more than $250K in a bank. Two of the ways to go above FDIC/NCUA insurance is to rely on private insurance (either with ASI for credit unions or DIF/SIF in MA). If you don't want to depend on private deposit insurance, there's an easy way to structure deposits at one bank or credit union to federally insure at least $1.25 million. I described the method in the blog post, Maximizing Your FDIC Coverage with Beneficiaries.

The article also mentioned brokered deposits, CDARS and MMAX. The main problem with these is low rates.

KenBDG5,147 posts since
Nov 29, 2009
Rep Points: 117,067