UNLESS YOU ARE WELL INTO YOUR nineties or have lived in a country without an established banking system, it’s highly unlikely you’ve ever lost money due to a bank failure. Since the Federal Deposit Insurance Corp. was created in 1933, no bank customer has lost a penny in insured deposits, even during the darkest days of the 2008–09 financial crisis.
But that didn't prevent some savers from breaking into a cold sweat in March when Silicon Valley Bank failed and regulators assumed control. It was the largest bank failure since the financial crisis, and it was followed by a cascade of unnerving banking news, including the collapse of Signature Bank, the shutdown of Silvergate Capital and efforts by some of the country's largest banks to shore up the finances of regional giant First Republic Bank after customers withdrew $70 billion in deposits. But unless you have a large amount of money in the bank, that is probably something you can cross off your worry list.
The FDIC insures traditional bank deposits such as checking and savings accounts, money market deposit accounts, and certificates of deposit for up to $250,000 per depositor, or $500,000 for joint accounts, per bank. The National Credit Union Administration (NCUA)-also a federal agency-provides the same coverage with the same limits for credit unions.
هذه القصة مأخوذة من طبعة June 2023 من Kiplinger's Personal Finance.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة June 2023 من Kiplinger's Personal Finance.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
GUARD AGAINST IDENTITY THEFT IN THE NEW YEAR
Scammers are getting better at impersonating legitimate businesses.
SHOULD YOU BUY PET HEALTH INSURANCE?
You can fend off big veterinary bills with a policy that covers your furry companion.
THE LOWDOWN ON BUYING A VACATION HOME
If you return to a beloved destination again and again, purchasing a home there may be a smart move-but don't overlook the costs and effort that go into it.
My Top 10 Stock Picks for 2025
SINCE 1993, I have offered an annual list of 10 stocks with the potential to beat the market in the 12 months ahead. My 2024 selections notched the highest return ever: an average of 48.9%. I beat the S&P 500 index by 10.8 percentage points, and every one of my stocks was up-six by more than 30%.
WHAT MAKES AN ETF SUCCESSFUL?
EXCHANGE-traded funds have exploded in popularity, with the industry now reaching the milestone of $10 trillion in assets.
TIPS FROM INSIDERS
When corporate insiders buy or sell, it can offer clues on whether you should do the same.
CHOOSE THE BEST FUNDS IN YOUR 401(k)
Our guide can help you make the most of your workplace retirement plan.
ANOTHER GOOD YEAR FOR STOCKS
With the economy growing and the Federal Reserve easing, there's a lot to like about this market.
WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS
You typically need earned income to contribute to an individual retirement account, but a spousal IRA provides an important exception to this rule.
DIVIDEND STOCKS ARE READY TO REBOUND
Our favorite dividend payers are poised to benefit as falling interest rates lure investors back.