4.6 • 1.8K Ratings
🗓️ 27 August 2008
⏱️ 7 minutes
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0:00.0 | Hello and welcome to Money Girls Quick and Dirty Tips for a Richer Life. |
0:10.0 | I'm your host Laura Adams. Today's episode is about how to keep your money safe in |
0:18.0 | uncertain financial times. When times are tough in the financial markets, investors need to adopt a survival mindset. |
0:26.0 | Sometimes the best we can hope for is not a return on our investments, but simply the return of our investments. |
0:33.7 | You should always question how safe your money really is. |
0:36.8 | Never assume your money is protected just because it's in a bank CD or money market fund that |
0:42.2 | has traditionally been safe. |
0:44.0 | The rules of the investment game are changing, and every investor needs to become more aware of this. |
0:49.0 | The credit crunch we're experiencing from the distressed housing market is taking its toll on financial |
0:55.0 | institutions that were once considered too big and powerful to fail. |
0:59.7 | As of the date of this podcast, the Federal Deposit Insurance Corporation, or FDIC, lists eight banks that have |
1:07.1 | failed since the beginning of 2008. |
1:09.7 | My guess is that there will probably be many more to come. |
1:13.0 | I'll put a link to the FDIC failed bank list in the show notes. |
1:18.0 | To help keep your money safe in today's financial environment, consider the following three guidelines. |
1:24.4 | Number one, don't chase unrealistically high return investments. |
1:28.8 | Extraordinary returns may be assigned that an institution is desperate for your deposits and could actually be in trouble. |
1:35.0 | If you do find an irresistible offer, make sure you're okay with higher levels of risk or that the full amount of your money will be FDIC insured. |
1:44.3 | Number two, know which investments are insured by the FDIC. |
1:48.6 | Make sure your deposits are held at banks with FDIC insurance. |
1:53.0 | The FDIC only covers deposits in checking and savings accounts, |
1:58.0 | money market deposit accounts, |
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