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.