What happens when a bank fails? If you’ve been watching the news lately, you may have noticed a lot happening around the Silicon Valley Bank and then Signature Bank. These are specific banks that cater to a specific client. How might these recent collapses impact your money or financial plan? Troy and Alan talk about the common situations that lead people to have large sums of cash in the bank and how to protect your money.
Instead of reacting out of fear from the recent headlines, listen to Alan and Troy explain what you need to know about the money you put in the bank and how to approach your strategy around safe money.
What we discuss in this episode:
- Is this something I need to be worried about? (0:50)
- How does a person get to having so much cash in the bank? (3:20)
- When is it appropriate to have large sums of cash? (6:03)
- How safe is your money in life insurance or an annuity? (8:32)
Get additional financial resources here: https://mercurioadvisors.com/podcasts/
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