by David Eisner

The Wall Street Journal wrote an article about strategies to keep cash stowed away and still be protected by the FDIC.

“As the financial system reels from one disaster after another, financial planners, estate planners and bank officials say they’ve been receiving calls from panicked savers concerned about the safety of their deposits. The Federal Deposit Insurance Corp. guarantees bank deposits up to $100,000 per person, per insured institution. But what if you have a lot more cash than that?” asks Jane Kim of The Wall Street Journal.

Protecting Your Savings
Savers with big balances have options to make sure their deposits are fully insured:

-Use the FDIC’s EDIE the Estimator program (www.fdic.gov/edie) to determine if your deposits are within coverage limits.
-Buy CDs through brokerages or deposit-placement services, which can quickly disperse money across different firms.

Read more about this at: http://online.wsj.com/article/SB122169783324750379.html

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