Thanks for analysis. FDIC limit is probably the standard $100K. I've got a couple of those oversized eggs parked there but have been uninterested in splitting them up and distributed them around the system.
You're welcome. Mostly likely the 100k limit applies, but check with Schwab on that, as "in trust" type accounts will have the 100k limit multiplied by the number of "qualified" beneficiaries.
Back in 2000 I was coexecutor on an estate that had that distribution thing quite developed, 13 banks, three of which had safety deposit boxes stuffed with original certs both stocks and bonds going back to the late 1940s.... The guy who died was a product of the Depression and the Big War.
I went through the same thing a few years back. With the addition of tens of thousands of dollars and silver coins "hidden" in coffee cans, piggy banks, and a safe.
Today things are different and yet much the same. Its probably time to review my operating plan, some diversification may be wise at this time.
We're going to see increased bank failures this year and for a few after that - no doubt about that. As for Schwab Bank, from their filings it appears they steered a nearly perfect course through the housing tumult, but I think it's prudent to be at least moderately skeptical of that.
I sort of ducked out of the way in the early 2000s, after the dot.com crash, leaving the markets to their immoral ways. Now self preservation seems to be the priority, again.
Well, you picked a good decade to duck the stock market. It's had the lowest return of any other decade in the last 100 years. Of course, that is partly the cause and result of everybody and his brother purchasing real estate. |
