Wealthy people, how do you insure your money?

Mar 17, 2018 40 Comments

The FDIC only insures $250k per banking institution. Do you just open a lot of bank and brokerage accounts? Do you not care? Is there something else I’m missing here?

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TOP 40 Comments
  • Cisco
    NHoI41

    Go to company page Cisco

    NHoI41
    Most wealthy people don’t store money in cash. Their wealth is in investments, which are not FDIC insured.
    Mar 17, 2018 3
  • New / Eng
    3.141

    New Eng

    PRE
    Facebook
    3.141
    More important: get liability insurance, you’re more likely to get wiped out by a lawsuit and it is amazingly cheap for the peace of mind
    Mar 17, 2018 4
    • AT&T / Eng
      DDM2K

      Go to company page AT&T Eng

      PRE
      Optum, Windstream, AT&T, Verizon
      DDM2K
      But It protects you from living on the street.

      My $1M policy is $18 a month.
      Mar 18, 2018
    • New / Eng
      3.141

      New Eng

      PRE
      Facebook
      3.141
      Exactly, get an umbrella policy on top for very little
      Mar 18, 2018
  • New
    carlll

    New

    PRE
    Zenefits
    carlll
    I only have enough cash for 3-4 months of living expenses. Everything else is invested in the stock market, mostly index funds. Unless there’s some good reason you probably shouldn’t have 250k in cash.
    Mar 17, 2018 2
    • What’s your net worth? Does having 6 to 12 months not make you feel better?

      How old are you?

      On a scale of 1-10, where 1 is all cash everything and 10 is “I liquidated all of my assets to buy bitcoin”, how risky are you?
      Mar 17, 2018
    • New
      carlll

      New

      PRE
      Zenefits
      carlll
      PM me if you want
      Mar 17, 2018
  • Amazon
    Qmnw

    Go to company page Amazon

    Qmnw
    It’s under my mattress. I’m Asian.
    Mar 17, 2018 3
  • LinkedIn / Eng
    dheere

    Go to company page LinkedIn Eng

    dheere
    If you are married, jointly held accounts are insured up to 500k
    Mar 17, 2018 1