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<<<<Of course this is easy for me to say, it's not my $3 million. If it was my money I would call Vanguard, put aside $600,000 (5 yrs x $120,000) in MMF's at several banks to get FDIC protection. Then I would invest 3/4 of the rest in VTSMX, 1/4 of the rest in VMBFX, and go enjoy my retirement. Each year I would pull an inflation adjusted $120K from accumulated dividends and sale of shares as needed to replenish the MMF.>>>>

"The FDIC protection is cummulative. It is not $100,000 per bank. It's $100,000 per person."

This is not entirely correct. It is possible to have more than $100k coverage by using multiple banks (not branches of the same bank).

Regards, JAFO
(posted before reading entire thread)
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