Is Your Money Safe?

Is my money safe? As expected, this is the number one question we have been getting from clients and prospects following the SVB collapse and banking crisis. So, where should we begin? Well for starters, it is certainly an unusual time in the economy, where we as humans never really thought about whether our money was safe in a traditional style bank account. Obviously when it comes to investing, we know there are plenty of risks involved, but now we are facing a new layer of risk with the banking system.

If this banking crisis has taught us one thing, it is the importance of making sure your funds are FDIC insured. So, only depositing $250,000 per FDIC-insured bank, or $500,000 total if you have a joint account. Being FDIC-insured means that the FDIC protects the money you as the depositor place into insured banks in the event of an insured-bank failure. So, while we had all thought bank failures were quite unlikely, leading some individuals to ignore the FDIC insured limit, given the recent news, make sure you are diversifying your banking institutions to remain within the insured-limits.

If you are a small business owner, the fall of SVB has now added another layer of risk to your business operations, requiring further due diligence on deposits and banking institutions. We know that this banking crisis is scary and causes doubt in the strength of the bank system, which is why we are here to recommend you to re-visit your cash management and seek advice from a financial professional. Given the economic uncertainty, now is a good time to ensure your cash is diversified and you are exploring alternative vehicles, including Treasury bonds, CDs, and money market accounts. If you have any questions or concerns about your cash given the banking crisis, email us at or schedule a complimentary intro call here.



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