Skip to main content
No. of Recommendations: 1
When I was at Exxon in the early 1980's there were guys taking $100,000 loans from their 401k to purchase brokered CDs with 17% yields. Some of those banks went under, but as long as you FDIC insurance, all you lost was a few months interest.

One manager just below the VP level put over $500,000 in a Houston bank (FDIC protection at the time was limited to $100,000. He lost a good piece of it.)



IIRC, the FDIC insurance was "per entity" or some such wording. So, you could get insured to the max in one account of John Smith, another of J.W. Smith and still another of Mr. and Mrs. John W. Smith. So, it took a small bit of care to make sure large amounts were insured, but you could do it.
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.