Episode 123: How Banks Fail and Should You Move Your Money
The Retirement Matters Show with Dale Smothers · Dale Smothers
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Show Notes
In this episode of The Retirement Matters Show with Dale Smothers , Dale talks about how banks fail, why they fail and he uses the SVB failure in 2023 as an example. The most recent bank failures have caused savers to realize that banks are, indeed, a for-profit-business! To seek their profits, rather than putting our money in their vaults, they will invest our money in risky propositions.
While those risky investments are mostly balanced by very safe investments, it is possible for the bank to see itself upside down in environments like the ones we are facing today, especially with a 'run on the bank'. If this happens, the FDIC steps in and takes control. At the end of the show, Dale discusses a few alternatives to saving money in the bank- if you have reached the FDIC limit for insurance or if you have simply lost trust in the bank.
There are powerful alternatives to saving money when it comes to banks. If your money isn't working, it's lazy money…and lazy money will COST you money.
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This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of publication and are subject to change without notice. Past performance is not indicative of future results.