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But someone that has over 250K in a bank can be expected to understand that FDIC insurance is (or better was, effective now it is unlimited) 250K, right?
by Lionga 4y ago
But someone that has over 250K in a bank can be expected to understand that FDIC insurance is (or better was, effective now it is unlimited) 250K, right?
- xapata 4y agoFirst, no. My wife earns more than me, but phrases like "FDIC insurance" make her eyes glaze. She'd ask her parents, "What do you do?" They'd answer, "Keep cash under your mattress." Second, what does that really mean? How to evaluate the quality of your bank isn't typically discussed by personal finance teachers, beyond looking at the interest rates and fees.