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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]Who keeps that much cash around? I don't see the rich doing it and the poor definitely shouldn't do it. [/quote] What are you supposed to do with it then?[/quote] Apparently put it all in the market. We put it in CDs/MM/Treasuries/Bonds/etc. Only a small percentage is in MM, but even the CDs need to be "managed across banks" to get the FDIC insurance. Sure we could put 95% in stocks, but why? We have enough to not need to take that risk. So we manage the rest accordingly [/quote] Why buy CDs when you can just buy treasuries that pay more? I don’t understand at all why you would open all these CDs at different banks when you have a risk free asset that pays more, is 100% guaranteed and easy to manage. There is no risk.[/quote]
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