With all this talk of the economy and the stock market is anyone else scrambling to find the information they need to make wise choices? ME TOO!
There is a site you can go to that will tell you if your investment is FDIC insured. If it is not, please, please, please find a place to transfer your investments to. This is no time to risk your lifetimes savings.
Here's the web-site, it's super simple to use! Just click "get started". Then come back and share with us what you discovered!
Loading ...Darla is the Financial Editor for Blissfully Domestic and can be found blogging at Sassy Homemaker.
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First I have to say I'm totally ignorant of how I would even get my investments FDIC insured…so this comment may be biased or wrong!
When I invest money, I take on risk. That risk wouldn't be there if my investment was insured. When I go to a casino (hey, it could happen!) I can't get insurance for losing money on the slot machine.
My checking and savings accounts are FDIC insured, but I don't know anyone that thinks of a savings/checking account as an investment. It's a parking lot for money.
So, I'm confused how someone can have an FDIC insured investment by the definition of investment. Guess me and Google are going to get close for the next little bit…because if there are insured investments that aren't savings accounts, I'm all ears.
But my non-FDIC insured investments don't worry me. I don't invest enough of my money that I would be bankrupt if my investments failed. That's the nature of investing, you don't take on more risk than you can afford to lose. Right?
Hi Jenny,
What this is referring to is IRA, SEPs, etc. Retirement type investments. NOT just stocks that you basically "gamble" with. I think you are right, with stocks we shouldn't expect them to be guaranteed. The point is that there ARE retirement investments out there that are NOT FDIC insured and now is not the time to be investing in those w/your retirement accounts.
Thanks for the thought provoking comment!
Darla
So what companies out there carry FDIC insured investments besides the money grubbers at AIG?