Hello,
Believe I have a basic understanding as to what the FDIC covers re CD's in a savings bank. Frankly, never thought too much about it, but with all the bank problems, etc., thought I'd do a little worrying now.
Surprisingly, the bank mgr's I spoke to about this, weren't all that sure either. Doesn't inspire confidence.
So, let me please ask here. Sure do appreciate the fine answers and help I've received in the past. A bit rough when you are in your 70's to fully understand all the nuances of this.
Let's say a husband and wife have several Joint CD's in a savings bank totaling 200K My understanding is that it all (the 200K total) would be fully FDIC fully insured. Correct ?
In addition, the husband alone has a traditional IRA as a CD in the same bank for
150 K.Is this IRA CD, and the other 200K total CD's ALL FDIC insured ?
I guess I'm asking if the IRA CD insurance is handled differently, and carries its own (additional) insurance ?
Much thanks, Bob
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