This week’s theme on the Retirement Quick Tips Podcast is: Why Banks Are Going Bust & What To Do About It

Yesterday I talked about the most important way…

• Brokered CDs - spread out coverage among financial institutions within one account. For businesses, they can do basically the same thing with what’s known as Certificate of Deposit Account Registry Service

• Treasuries - backed by the full faith and credit of the US government without the much smaller FDIC insurance limits

• Money Markets - variety of institutions to spread out the risk even though they’re not FDIC backed

• Stash Your Cash with the Biggest Banks - Too Big To Fail & more diversified (remember SVB was a niche bank catering to venture capital and tech startups, so they were doomed as soon as the perfect storm hit of deposits and new capital flows drying up because their customers VC businesses were also drying up, and interest rates started rising which created huge losses for them as they sold bonds to cover withdrawals from the bank)

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.    

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance