Make Sure Your Cash Investments are FDIC Insured
 Here’s another excerpt from my recent appearance on the Frank Pastore Show on KKLA 99.5, giving some important investment tips:
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When an FDIC-insured bank or saving association fails, like IndyMac, the FDIC protects you against the loss of your deposits. Most people think that they can have 100K in a husband’s name, 100K in a wife’s name, and 200K jointly. But you can’t, the basic insurance amount is 100K per depositor per insured bank. So you’ve got to take a look at things and spread it around.
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With the slow economy and current state of the stock market, more people are keeping cash in banks. It’s a temporary parking place and you’ve got to make sure you’re not parked in an illegal zone.
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Look at your portfolio, especially the cash portion, and don’t have more than 100K in any one given bank, not branch but bank. There are some very good banks. American Business Bank and First Commercial Bank, both in Los Angeles. They’re strong as heck and the people who run the bank own them.
Find out more about the FDIC and insuring your deposits.Â
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Listen to the interview for more advice on managing your investment portfolio.
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Tags: FDIC, Frank Pastore, i need tax help, IndyMac, insuring cash investments, KKLA, tax expert
