Deposits under 250k are insured by FDIC and guaranteed against just such a loss if a bank goes under. Don’t keep more than 250k in one bank. Any investments like 401k should be held by a fiduciary that does not comingle funds. As far as hedging against the coming storm, I’ve converted most of my equities to cash within a couple of accounts and am waiting to start buying the bottom. Gold and silver are a small hedge against total loss but I’m just not seeing them worth the effort. Right now, you can get a yield of 5% in a certificate of deposit. Not bad return for a safe place. Just be careful who you buy them from.
Deposits under 250k are insured by FDIC and guaranteed against just such a loss if a bank goes under. Don’t keep more than 250k in one bank. Any investments like 401k should be held by a fiduciary that does not comingle funds. As far as hedging against the coming storm, I’ve converted most of my equities to cash within a couple of accounts and am waiting to start buying the bottom. Gold and silver are a small hedge against total loss but I’m just not seeing them worth the effort. Right now, you can get a yield of 5% in a certificate of deposit. Not bad return for a safe place. Just be careful who you buy them from.
And keep the certificates under 250,000 each.
Money is guaranteed, but it may take awhile. And you may lose the house waiting for it.