Ep #180 - How To Get the Most Out Of Your FDIC Insurance

In the past few weeks, we have been in a banking environment where lenders are running into problems that started at Silicon Valley Bank six weeks ago. Today on the show, we are going to talk about the situation of the banks, the risks, and, more importantly, what you should do if you are concerned about the viability of your bank. We will also cover FDIC insurance, what's covered and not covered in it, the limits on different types of accounts, the difference between banks and credit unions, a few strategies you can use to protect your cash, and more. [04.43] Silicon Valley Bank – Starting the conversation, Grant explains what happened to Silicon Valley Bank in a nutshell and why its customers are at risk. [11.50] FDIC insurance – We discuss why we shouldn't rely on the FDIC or the federal government to cover insurance above $250,000. [17.42] The rules – Grant dives into the rules of FDIC insurance. [24.37] Other institutions – Grant shared why he is not a fan of other institutions like JPMorgan Chase & Co. and Wells Fargo. [31.44] Office buildings – We talk about how office buildings' value is falling dramatically in commercial real-estate space. [35.28] SIPC - Securities Investor Protection Corporation is the brokerage affiliate of the FDIC. Resources Fed report blames SVB execs — and itself — for bank's failure msn.com/en-us/money/other/fed-report-blames-svb-execs-and-itself-for-bank-s-failure/ar-AA1aufuL Deposit Insurance At A Glance fdic.gov/resources/deposit-insurance/brochures/deposits-at-a-glance/