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Folks with more than 250k know not to put any of it over the bounds of the FDIC.
by pkulak 4y ago
Folks with more than 250k know not to put any of it over the bounds of the FDIC.
- AmericanChopper 4y ago$250k is only just a home down payment in a lot of cities.
- majormajor 4y agoThat doesn't stop you from spreading it out... while you say "only" just a down payment, it's also worth noting that a down payment is the single largest cash transaction many people will ever make. Which is all the more reason that it doesn't make sense to have a giant balance all in the same spot 99% of the time. ("A lot" of cities is also doing a lot of work in that sentence... 250k is 20% of 1.25M. That would buy you a lot of house in the vast majority of US cities.