How to protect your pile...
http://money.cnn.com/2008/07/16/pf/b...ney_topstories
How safe is your money, and how to protect it
Yes massive bank failures are rare, but not unheard of. Here's what you need to know to shelter your money if it happens to you.
By Jessica Dickler, CNNMoney.com
Last Updated: July 16, 2008: 3:18 PM EDT
NEW YORK (CNNMoney.com) -- The chances are your bank is not going to shut down overnight.
But if you're at all worried about this in the wake of IndyMac's collapse, there are easy ways to eliminate your exposure today.
"This is the portion of your portfolio that's supposed to help you sleep at night not keep you awake," said Greg McBride, Senior financial analyst at Bankrate.com.
The FDIC, short for the Federal Deposit Insurance Corporation, fully insures individual accounts up to $100,000 per deposit per bank, and $250,000 for most retirement accounts.
The FDIC does not cover money invested in stocks, bonds, mutual funds, life-insurance policies, annuities or municipal securities.
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Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but rather we have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit.
- -- Aristotle
Believe nothing on the faith of traditions, even though they have been held in honor for many generations and in diverse places. Do not believe a thing because many people speak of it. Do not believe on the faith of the sages of the past. Do not believe what you yourself have imagined, persuading yourself that a God inspires you. Believe nothing on the sole authority of your masters and priests. After examination, believe what you yourself have tested and found to be reasonable, and conform your conduct thereto.
- -- The Buddha
It is the mark of an educated mind to be able to entertain a thought without accepting it.
- -- Aristotle
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