- 1). The FDIC (Federal Deposit Insurance Corporation) covers individual accounts up to $100,000 per deposit per bank or $250,000 for most retirement accounts (and that includes any accrued interest). So if you have multiple accounts you currently manage, split the money around, so that each account is no larger than $100,000.
- 2). Treasury bills (from the federal government) can be bought anywhere from $100 to millions of dollars. You can buy short term (few weeks) to long term bills so that you can have your money liquidatable at anytime you need it. And staggering purchases will help to ensure that your money is constantly maturing and being available to you. You can buy these from the treasury website.
- 3). Money-market mutual funds are not FDIC insured, however, you can choose a money-market fund that purchases only short-term Treasury securities, and you're at the top level of financial safety.
- 4). Invest in CD (Certificate of Deposit) with a bank that is a part of the CDARS network.
- 5). If you want to save all your money in one bank, but have more than $100,000, then retitle your money so that each $100,000 is under a different registration - one your name, one jointly with your spouse, etc.
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