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Even having a safe in your home for your valuables and cash does not make it a secure location. Less than 10% of Americans said they kept more than $1,000 in cash at home, according to a 2023 ...
Storing your money in a bank account is a far better option than carrying around cash, thanks to the added protections that come with keeping your money with a financial institution.
Seniors are taking the brunt of financial fraud to the tune of $3.4B+. Learn the most common peer-to-peer, impersonation and other scams on the rise to keep your money safe.
Money market funds invest in stable, short-term assets that are typically backed by the U.S. government, large companies and local governments, making them safe to a pretty good degree.
From a safety perspective, money market accounts are also considered deposit accounts, meaning they carry the same $250,000 FDIC insurance as CDs and savings accounts.
I lost all faith in US banks in 2009 — but now I'm 52 with $650,000 in cash sitting in a safe at home. Can I even deposit this money legally? Christy Bieber. September 28, 2024 at 7:50 AM.