#067 - Why are banks failing and should we be concerned about more failures?

Retirement Planning Education, with Andy Panko

Andy Panko

Roth Conversion, Roth Ira, Education, Social Security, Ira, Taxes, Retirement Planning, Annuities, Pension, Financial Planning, Investing, 401k, Tax Planning

4.9 • 1.1K Ratings

🗓️ 23 March 2023

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discussion of the basics of the U.S.'s monetary and banking systems, and why there have recently been multiple bank failures. And, should we be concerned about the broader banking system and more failures going forward? Links in this episode: Boomer Benefits website - https://www.BoomerBenefits.com FDIC Electronic Deposit Insurance Estimator ("EDIE") calculator - https://edie.fdic.gov/calculator.html Facebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube chann...

Transcript

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0:00.0	Let's talk about bank failures and whether or not you need to be concerned about your money in the bank in this the 67th episode of the Retirement Planning Education Podcast.
0:11.7	Welcome to the Retirement Planning Education Podcast, where you can learn all about IRAs and Roth IRAs, employer retirement plans, taxes, social security, Medicare, portfolio withdrawal
0:22.6	strategies, annuities, estate planning, and much more. And now here's your host, Andy Panko.
0:29.5	All righty, hello, everyone. Welcome back. Thank you as always for listening. I'm doing fine.
0:34.1	I'm doing better than a lot of banks. Sorry, too soon for that. No, today I wanted to talk about
0:38.9	it is March 19th, 2023 as I'm recording this. It will be aired on Thursday, March 23rd, to be
0:46.4	determined what happens in the next handful of days with banks, whether or not any other banks have
0:51.1	troubles. So today's episode, I want to talk about bank failures.
0:55.5	What's that all about, right?
0:57.8	Sort of reminds me of Seinfeld.
0:59.8	What's that all about?
1:00.7	Like grape nuts.
1:02.3	What's that all about?
1:03.5	They're not grapes.
1:04.3	They're not nuts.
1:05.6	Anyway, that's my sorry attempt that sound like Jerry Seinfeld.
1:08.7	I want to talk about clearly in the last
1:11.6	week or so, really big news has shaken the markets, has, you know, sort of had a crisis of
1:17.9	confidence and people scared and rightfully so and asking questions about banks and why are banks
1:24.1	failing? Is my bank going to fail? Is my money safe in my bank? What should I do if anything,
1:27.4	et cetera?
1:27.8	So I thought I would just kind of touch on that topic in a few different angles today.
	...

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