First off let me state that I am not a financial advisor. These are simply my opinions and thoughts.
The banks have a lot of problems that they are not sharing with the public. Big Problems! I wish I owned my home so I could have a hidden safe somewhere, but I don't. Of course a safe can be stolen or robbed also so it would have to be well hidden and NO ONE should know you have one. I would not even let someone install it and I would not let the company I buy it from know where I live. As far as banks go, if your savings account and your checking account are fdic insured then your money is supposedly protected. The problem is that some studies show that the fdic does not have enough money to cover all the losses if the huge banks fail. Also if the fdic has to deal with a huge bank that fails you have to wonder how long until you can get your money back since the fdic has millions of accounts to deal with. A smaller bank the fdic can handle much easier. Usually they just move your money into a healthier local bank. Personally I would reccomend that you use your big bank for monthly bills and find a smaller bank with a five star rating to put your excess money into. For example USAA bank has one of the highest ratings in nevada -- 4 stars at bauerfinancial.com. But I would still keep an eye on their ratings throughout the next year. Especially stay away form banks that were big into home and commercial real estate loans over the last few years. Those banks are headed for more trouble. I wonder to myself if putting money into a reliable brokerage firm like Scottrade may be a good idea as they have no exposure to real estate loans. Just a thought. Good luck to all.
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