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Are Your Life Saving Insured?

By
Services for Real Estate Pros with The Real Estate Investment Institute 1retiredsage

With all the bank failures, mergers, sales, and take overs we could relax as our Deposits, CD's, and Retirement accounts were insured by FDIC. But, now that they have been merged, swallowed, and assimilated it's time to make sure you're still insured.

My own accounts opened with WaMu are now part of "J P Morgan Chase" are still insured (hopefully), but that could change on at varied times depending on when they were opened.

Have you checked with your bank? Your bank doesn't need to be taken over for you to exceed insurance limits, your bank could have quietly acquired another bank or it's accounts that you have money in.

As long as I've got your thinking about your retirement accounts, are you directing yourself directed IRA's?

Bill

William J Archambault Jr

The Real Estate Investment Institute

Posted by

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org      Cell 832-259-7078,      Houston 832-582-8415,       Las vegas 702-516-1569

     http://www.reii.org  Back Cover One House At A Time http:www//reii.orghttp://www.flippingforfunandprofit.info/ http://www.billarchambault.com   

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

http://www.reii.org

©William J Archambault Jr   ©The Real Estate Investment Institute   ©REII

Comments(3)

Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Indeed I have checked.  I have been advised by no less than 3 banks that it's O.K. to have more than $100,000 in any one account. 

It's amazing the misinformation spread by the banks. 

 

Jan 12, 2009 06:56 AM
Ron Withers ----Retired Mortgage Professional
Kissimmee, FL

Bill, this is a good question to pose. In our present encomic times it is believed that more people are focusing on holding onto their money.  While I am in tune with this...although my personal debt are somewhat low I am focusing moreso into eliminating it and then increasing savings. Great  advice sir!

Jan 13, 2009 01:51 AM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Lenn, Ron,

Thank you.

I just got this notice from the bank that there was diffrent coverage depending on when the deposit was made or the account opened.

I just wanted people to think.

Bill

Jan 13, 2009 03:22 AM