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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
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On Oct 1, 1:23 am, "Robert11" <r...@n...com> wrote:
> 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.
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