I am sure many of you have savings more than 250K. Since FDIC only insures up to 250K only, what do you do with excess deposit to make sure it is covered by FDIC? I don't want to invest, as I would need this amount soon for home purchase
I know I can open accounts in other bank institutions and keep it there. just wanted to see if there are any other better options out there. TIA.
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comments
That money is losing value as it sits in your acct and is not at all keeping up with inflation.
FFS, but I-bonds and and ladder some CDs so at least your cash holdings are somewhat liquid and still earning interest