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re: How do lottery winners or extremely wealthy keep their $ safe?
Posted on 3/30/13 at 7:40 am to The Mick
Posted on 3/30/13 at 7:40 am to The Mick
Investment firms fall under SIPC which covers institutional failure/fraud up to $500k per investor.
Many can also pool CDs from multiple banks in one account and not exceed FDIC coverage. Easy to have multiples of millions of "safe money" all within FDIC limits in one account. Of course rates are horrible now, but the OP referenced FDIC coverage.
Many can also pool CDs from multiple banks in one account and not exceed FDIC coverage. Easy to have multiples of millions of "safe money" all within FDIC limits in one account. Of course rates are horrible now, but the OP referenced FDIC coverage.
This post was edited on 3/30/13 at 7:55 am
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