|
Posted by PeterL on October 1, 2008, 12:45 pm
> Hello,
>
> Believe I have a basic understanding as to what the FDIC covers re CD's in a
> savings bank. Frankly, never thought too much about it, but with all the
> bank problems, etc., thought I'd do a little worrying now.
>
> Surprisingly, the bank mgr's I spoke to about this, weren't all that sure
> either.
> Doesn't inspire confidence.
>
> So, let me please ask here.
> Sure do appreciate the fine answers and help I've received in the past.
> A bit rough when you are in your 70's to fully understand all the nuances of
> this.
>
> Let's say a husband and wife have several Joint CD's in a savings bank
> totaling 200K
> My understanding is that it all (the 200K total) would be fully FDIC fully
> insured.
> Correct ?
>
> In addition, the husband alone has a traditional IRA as a CD in the same
> bank for
> 150 K.
>
> Is this IRA CD, and the other 200K total CD's ALL FDIC insured ?
>
> I guess I'm asking if the IRA CD insurance is handled differently, and
> carries its own (additional) insurance ?
>
> Much thanks,
> Bob
>
Try the FDIC insurance calculator: http://www.fdic.gov/edie/
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.
| 
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap