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> The security you might implement to protect $100 vs $100k vs $100 million is different. This almost makes sense, except that you have to take into the relat
by warkdarrior 4y ago
> The security you might implement to protect $100 vs $100k vs $100 million is different.
This almost makes sense, except that you have to take into the relative value of that amount, in particular relative to one's total net worth. If I want to protect $100, and that is all the money I have, I'll worry about security a lot. If I have $1,000,000, protecting $100 is not a priority.
The general assumption is that people put all of their money in one place, which is not true for anyone I know -- poor, middle class, or rich. Everyone has cash, bank accounts, various physical valuables, stock, etc.
- throw_nbvc1234 4y agoIt could be absolute and/or relative depending on the mechanisms. Relying on FDIC insurance to protect $1 million in a bank account is probably not a good idea.