Planning to have a 50k CD at Citi But seeing so many news about bank failures and ratings downgrades is a bit scary. Charles Schwab was under the weather today it seems and planning layoffs. So my question is how safe is the FDIC insurance for CDs? And is it safer to keep invested in the stock market ? S&P seems very volatile and maybe time for some correction there as well. #personalfinance #investments #stockmarket
FDIC may fall only if all banks goes down or printer fails.
FDIC is government backed. Printer risk is real
FDIC : Cash = SPIC : Brokerage
If your account is FDIC insured, then the money is safe. If FDIC were to fail, then the dollar would be worthless anyway, and the world would turn to anarchy.
Are money markets also FDIC insured ?
You should be more concerned that your 50k is losing value everyday.
I do have some in S&P500 too that I don't plan to take out ever but I want to keep some cash handy for the time S&P500 comes down a bit
Where do you put it instead?