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Reply to "If savings account are only FDIC insured to $250K do you need to open another account?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]don't you use more than one bank OP? I use CapOne, Ally, and Vanguard. You can spread your money[/quote] This is pretty f**king stupid. I guess if you have tens of millions, then keep $750k in cash earning nothing. Maybe just have one account and then buy $500k of treasuries that will earn real interest.[/quote] Well some of us do have a lot more than $750K in cash and "tens of millions". Sure I could put it all in the market, but I have enough in the market to live the next 20+ years off of. And I have enough in cash/cash alternatives to live off of for 25+ years and never touch the principal. So yeah, I keep a portion in cash as I don't need the risk associated with the market. And yes, my Financial advisor manages it so we have FDIC/NCUA protection. [/quote] We use muni bonds, CD ladders, etc. It’s not just sitting in a bank.[/quote]
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